solvency
The ongoing Saga of Social Security’s “Full Retirement Age”
Although, for many years, age 65 was considered to be the normal retirement age, for Social Security purposes that changed with legislative changes made in 1983. In that year, legislation was enacted which gradually raised the age at which full…
Is increasing Social Security’s full retirement age on the horizon?
Social Security’s full retirement age (FRA) is the point at which you get 100% of the monthly benefit you’ve earned from a lifetime of working. Right now, the FRA for anyone born in 1960 or later is age 67. And,…
Social Security Under New Leadership
Financial services executive Frank Bisignano has taken over the helm as Commissioner of the Social Security Administration, replacing Acting Commissioner Lee Dudek. This appointment comes at a challenging time for Social Security, in the midst of several recent changes aimed…
How Taxes fit into Social Security’s Financial Future
Unless you were sleeping (or perhaps out of the country) since the last Presidential election, you’ve likely heard a lot about President Trump’s desire to change how income taxes are levied on Social Security benefits. Repealing taxes on Social Security…
Declining mortality rates do not bode well for Social Security
“Mortality rates are declining, and living beyond 90 is in reach for many, as medical advancements have made it possible to live longer than ever before.” That statement is the key thrust of this Fortune magazine article about how changing demographics are…
How Safe Are your Social Security Benefits?
Well, if you listen to all of the media reports these days, you might very well be concerned amount the safety of this crucial senior benefit program! On any given day, you may read about how “Social Security is going…
Social Security is changing; but how?
Social Security sure has been in the media spotlight recently, with many accounts predicting benefit cuts, and some even predicting the demise of the program. Of course, most of that is hyperbolic nonsense, but what is the real situation with…
Social Security promise – broken, or not?
During the recent election cycle, all candidates promised that Social Security “would not be touched.” That included President Trump, who committed that he would not “touch” Social Security. But with the recent events associated with the Department of Government Efficiency…
A Realistic Perspective on Reducing Social Security Fraud
Most media accounts of recently announced Social Security changes have been met with criticism by reporters, liberals, and anyone else wishing to label the Administration’s fraud and waste reduction efforts as misguided. But reality is that nearly $72 billion in…
About not paying income tax on Social Security Benefits
President Trump has suggested that seniors should not have to pay income tax on their Social Security benefits, and (obviously) most seniors would agree. Some studies say that eliminating income tax on Social Security benefits would provide a welcome $3,000…