Social Security
Social Security will stop paper checks soon
Effective September 30th, the Social Security Administration will discontinue issuing paper checks and switch to digital payments. Although fewer than one percent of the 74 million Americans currently receive benefits by check, this change will impact about 750,000 people. What…
Demystifying Social Security Spouse Benefits
Among Social Security’s myriad regulations, few topics are more misunderstood than spouse benefits. Terminology is important here – “spouse benefits” in Social Security (SS) parlance refers to benefits one spouse can collect from the other’s record while both spouses are…
Ask Rusty – I’d like to retire early, but don’t want my Social Security reduced
Dear Rusty: I will be 65 this year and my husband is 72 (he retired in 2019 at age 66). I would like to retire and enjoy some time with him before he gets too much older. I do not…
Living on Social Security…How Much is Enough?
With an estimated three-quarters of the senior population reportedly prioritizing Social Security benefits over pensions and personal savings in their retirement plans, it becomes critical to assess the adequacy of this benefit before making a decision. There are a few…
More on “Bridging” Strategies to Enhance Retirement Income
Outliving one’s financial resources is a reasonably common fear among retirees, both current and future retirees. When coupled with the impact of claiming Social Security benefits early, that is, before monthly payments are maximized, this fear can be rather significant.…
The Social Security Trust Funds Explained
Social Security’s financial picture, dismal as it might be, is typically misunderstood. Those unable to grasp its relationship to overall federal governmental finances characterize it as a “Ponzi scheme.” Others persistently claim that money has been “stolen” or “misappropriated” from…
Further clarification on the “Senior Bonus Deduction”
The $6,000 per filer bonus income deduction enacted via the One Big Beautiful Bill Act has generated quite a bit of discussion since its July 4 arrival, much of it dealing with its mechanics at tax filing time. As explained…
Taking a Look at Social Security’s Chatbot
Customer service at the Social Security Administration continues to draw attention in the wake of Department of Government Efficiency (DOGE) activities earlier this year. One of the more recent innovations undertaken in this regard is SSA’s recent reliance on an…
A Thought on Increasing Social Security’s Revenue Picture
Addressing Social Security’s long-term financial problems typically comes down to two fundamental moves: increasing the incoming revenue or decreasing the outgoing benefits. Either move presents challenges for policymakers, and that’s why there’s a constant search for new and novel approaches.…
Why doesn’t COLA Keep up with Inflation?
It happens every year. Here at the AMAC Foundation’s Social Security Advisory Service we start receiving questions about next year’s Cost-of-Living Adjustment (COLA) in mid- to late-September. Sometimes the inquiries come from reporters seeking inside information to include in an…