solvency
Social Security may not be as reliable as it seems.
According to the data from the Social Security Administration, among Social Security beneficiaries age 65 and older, 12 percent of men and 15 percent of women rely on Social Security for 90 percent or more of their income. According to…
The American Academy of Actuaries are urging Congress to act now
The American Academy of Actuaries has issued a new brief urging Congress to act sooner than later to stop the automatic 20 percent cut to individuals already receiving Social Security benefits. They warned if Congress does not come up with…
The True Origin of Social Security’s Solvency Problem?
Much has been written about Social Security’s impending 2022 trust fund depletion and the reduction in benefits that would be felt across the board when the reserves are gone. Most of the rhetoric over the past few years has focused…
Op-ed: Lies caused the Social Security crisis
“Equities for me, but not for thee” is the best quote from this op-ed by Brent Arends. He pens a sort of “what if” Social Security funds had been invested in higher yielding equities over low performing Treasuries since that…
Op-ed: We don’t have 10 years to think about Social Security’s insolvency problem
Brenton Smith, policy adviser for the Heartland Institute and frequent writer on Social Security issues, states, “The passage of time is financial cancer to Social Security.” Smith recaps what a decade or more of both political parties doing nothing has…
Social Security Reform and the Impact on Claiming Age
Statistically, age 62–the earliest age for collecting Social Security retirement benefits–is most popular, even though it results in a substantial reduction in monthly benefoit amounts. For some one with a full retirement age of 67, for example, the monthly benefit…
2023 Trustees Report Issued
The Social Security Board of Trustees today released its annual report on the financial status of the Social Security Trust Funds. The combined asset reserves of the Old-Age and Survivors Insurance and Disability Insurance (OASI and DI) Trust Funds are…
The Social Security insolvency app
Americans know that Social Security is facing insolvency in a decade, but what can the average person do about saving Social Security? Mr. Brian Septon, principal at the Terry Group, decided to use the new app from the American Academy…
A call for “common sense” reforms to Social Security
Former vice president Mike Pence, a likely 2024 presidential contender, is advocating for “common sense reforms” to Social Security and Medicare. Speaking to university students, “if we act in this moment with the support of this generation, we can introduce…
Is there a reasonable solution to Social Security woes?
Social Security Trust Fund will be able to pay scheduled benefits on a timely basis until 2034, according to the latest report. At that time, the reserves will become depleted. Continuing tax income will be sufficient to pay 77 percent…