Social Security
A Backtracked Social Security Decision
President Trump signed an executive order in May to convert all paper check payments from the government into digital form. However, following a meeting between Senator Elizabeth Warren and Social Security Commissioner Frank Bisignano, it has been announced that these…
The Hold Harmless rule – Why Medicare increases will not Lower your Social Security
Most years a Cost of Living Adjustment (COLA) increases Social Security recipient’s payments. However, depending on the accompanying increase to Medicare Part B, that increase may be offset. Gabriela Leon for msn explains how the Hold Harmless rule will keep…
Recent survey results shows Seniors have opinions on how to reform Social Security
With the Social Security trust fund currently on track to reach insolvency by the mid 2030’s, there are many ideas about how to reform Social Security to make it last for generations. A recent survey shows that older Americans have…
Basics of the Social Security Cost of Living (COLA) increase
Generally, the COLA is an increase in Social Security benefits that usually occurs each year. It is announced in October, effective in December and shows up in payments in January. Read this article by DJ Wilson for AMAC for a…
How does the age you Claim affect your Social Security Benefits?
You’ve worked all your life, increased your income over the years, and paid into Social Security. Your top 35 years of earnings will form the basis of your Full Retirement Age. But your benefit is determined by the age you…
Social Security Insolvency
The most recent Social Security Trustees report states that the combined trust funds are expected to be depleted by 2034. Once that happens Social Security benefits for all recipients will be cut by approximately 20%. Maurie Backman for The Motley…
Frustrated with Social Security Taxes? Why are they taken out of my paycheck?
Workers who earn (and their employers) must contribute to Social Security via payroll taxes to fund the program. When the program first started, certain employees and their employers were required to each contribute 1% of the employee’s first $3000 of…
No Surprise! Most unhappy with their Social Security payments
Although not exactly a blockbuster finding, a recent survey found that by far the majority of seniors are dissatisfied with their monthly Social Security payment. That, of course, is the result of runaway inflation in the past several years, which…
Don’t Obsess over Social Security!
At least one pundit who regularly watches what’s happening with the nation’s most important retirement program isn’t personally obsessing over Social Security’s looming financial issue. The issue at hand is a fact which has been reported by the Trustees of…
Myths – Part II: The Social Security Myth that Simply Refuses to Die!
Here at the AMAC Foundation’s Social Security Advisory Service we deal with misconceptions about Social Security nearly every day. These largely include simple misunderstandings about how Social Security works – for example, rules on how benefits are calculated, including retirement…