Social Security
CPI-E Advanced in New Congressional Bill
U.S. Rep. Ruben Gallego (D-AZ) recently introduced legislation that could increase the monthly benefits paid to seniors by requiring the Social Security Administration to use a different inflation-calculation formula. His bill, titled the “Boosting Benefits and COLAs for Seniors Act,” calls…
Members of American Federation of Teachers attend hearing for HR 82 ( Social Security Fairness Act)
The Windfall Eilimination Provision (WEP) and Government Pension Offset (GPO) affect the Social Security benefits of some government workers who are exempt from Social Security Tax. This legislation was meant to help offset the fact that these workers are treated…
WEP-GPO “Fairness” Examined in House Ways & Means Hearing
FEDweek, a federal and military employees’ and retirees’ information source on pay and benefit issues, yesterday published a recap of last week’s House Ways and Means Social Security Subcommittee hearing on the perceived “fairness” or “unfairness” of Social Security’s Windfall…
The Social Security/Medicare Funding Picture in a Nutshell
Quite a bit of rhetoric is surfacing on the media airwaves about the operation and financial stability of America’s primary senior benefit programs, Social Security and Medicare. With much of the commentary dealing with the issue of the insolvency projections…
Understanding the Connection Between Social Security and Medicare
Reaching your sixties means it’s time to look ahead to your retirement years, and that means starting to take a look at what senior benefit programs like Social Security and Medicare will mean to you. It can appear to be…
Should you delay taking Social Security benefits until 70?
A person who is eligible for Social Security can claim benefits anytime between 62 and 70. If you take it early your benefit will be reduced. If you wait until 70 you will receive the maximum payment. There is a…
COLA Watch 2025…But It’s Still Almost Six Months Away
Projections on what the January 2025 cost-of-living benefit adjustment will look like are beginning to hit the media airwaves. Here’s one preliminary assessment from The Senior Citizens League (TSCL), courtesy of CPA Practice Advisor, forecasting the possibility of a 2.6%…
Healthcare Costs in Retirement…Often Overlooked in the Planning Process
Predicting cash needs in retirement is a daunting task. It often focuses on day-to-day living expenses (e.g., housing, food clothing, travel, etc.) compared to expected income streams (e.g., Social Security, interest on savings, retirement account withdrawals, etc.). That makes sense,…
Understanding The U.S. National Debt and It’s Future Implications
Daily Hampshire Gazette columnist Richard Fein, in a post yesterday on their website, provided a summary analysis of the U.S. National Debt and its implications for the future. Citing the potential for problems in arranging future debt service, coupled with…
Moving? Remember to Alert Social Security!
Many Social Security beneficiaries elect to relocate, some to take advantage of a better climate, some to be closer to family, and some for any number of reasons. No matter why, it’s important that timely steps be taken to avoid…