Social Security
When will HR 82 be signed?
According to a Facebook post by the National Fraternal Order of Police, President Biden may sign the Social Security Fairness Act on January 6th, but this has not been confirmed. The Social Security Fairness Act will repeal the windfall elimination…
Musk and Social Security
Congress needs to make a Social Security resolution in 2025. The road to insolvency looms closer than ever. Can Musk help this process along? Read this article by Daniel McCarthy for New York Post here… As an example of the…
Will Biden Sign HR 82 into Law?
HR 82, the Social Security Fairness Act, has been passed by Congress and is now sitting on Biden’s desk waiting for a signature for it to become law. The President has until Monday to sign it, which is January 6th.…
A Common Social Security Mistake
It is well known that, if Congress fails to act, the Social Security Trust Fund will be depleted by 2035. This has caused some anxiety among upcoming retirees about when to take benefits. Those who take benefits at 62 are…
WEP-GPO Repeal: The Easy Way Out?
The Senate and House of Representatives have blessed the Social Security Fairness Act, and final enactment into law rests with President Biden. While he’s expected to sign the bill, there is a bit of speculation about the impact it will…
2025 Brings With it Several Key Changes
By now, everyone receiving Social Security retirement-related benefits is likely aware of the 2.5% increase scheduled for January 2925. That’s a welcome adjustment for millions of folks, despite the general criticisms about its inadequacy to cope in full with rising…
Rumor Mill in Operation: Thune/Musk Did Not Put a Target on Social Security
As the public’s interest in Social Security’s financial plight, we can expect to see a range of commentary about plans to address the looming insolvency problem. Some will be true and accurate, and some will not be, as discussed in…
What To Expect in 2025 for Social Security
Newsweek reports here that as the new year approaches, retirees and other Social Security recipients should be aware of several changes to benefits and services provided by the Social Security Administration (SSA). Not only are benefits boosted 2.5% but the…
Social Security: The insolvency problem & a balanced solution to it
What’s all this talk about Social Security’s problems all of a sudden? The problem is not new. The program was last “rescued” in 1983, and the reform measures were designed to buy solvency for about 75 years. But many factors,…
Average Social Security Benefits at Various Ages & The Optimal Claim Age
Sean Williams provides some exhaustive analysis and research here. Williams notes the four criteria that go into calculating benefit amounts, and he lists average benefits for people aged 62, 67, and 70. One comprehensive study shows that, statistically, one claiming…