Higher March inflation boosts Social Security COLA forecast for 2025
The latest Social Security cost of living adjustments (COLA) jumped considerably after a spike in inflation last month, according to one estimate.
Your Social Security COLA increase could be bigger than expected next year
The Seniors Citizens League estimates that Social Security beneficiaries could receive a 3% cost-of-living adjustment in 2025 as inflation gains steam.
Retired Americans with student loan debt risk garnishment of Social Security benefits
Democrat lawmakers want the Biden Administration to end the practice of Social Security garnishment to pay off outstanding student loan debt that impacts millions of older Americans.
Social Security Administration announces new measures to deal with overpayments
Major changes to how the Social Security Administration handles overpayments were announced recently
BlackRock CEO says Social Security's retirement age 'a bit crazy' as crisis looms
BlackRock CEO Larry Fink issued a warning about the fiscal crisis facing Social Security in his annual letter to investors, saying the retirement age should be re-assessed.
Biden 'doesn't have a plan' on Social Security solvency, Treasury secretary says
Treasury Secretary Janet Yellen told lawmakers that President Biden “doesn’t have a plan" when it comes to preventing Social Security from running out of funds.
These 5 states rake in the most Social Security benefits
The average Social Security benefit is just under $2000, but there are ways to boost that amount.
No relief for seniors as big drop forecasted for Social Security COLA
Early estimates for Social Security benefits and cost of living adjustments are low as inflation slows, but seniors struggle to make ends meet.
Social Security is coming for a bigger chunk of your paycheck
The portion of personal income subject to the Social Security tax has increased to $168,600 this year from $160,200 in 2023.
Social Security recipients could get hit with a surprise tax bill this year
The record-high Social Security cost-of-living bump that beneficiaries received in 2023 could come back to bite them during this year's tax-filing season.
Seniors say 2024 Social Security payment increase not enough to keep up with inflation: survey
As seniors deal with rising inflation, some consider rejoining the workforce to deal with rising costs.
The future of Bidenomics: You pay Social Security tax on all of your income?
With another four years of Bidenomics, you can be certain that, at the individual and corporate level, a perpetuity tax on Social Security will become front and center.
Americans are feeling more optimistic about the future of Social Security: survey
More Americans expect to get their Social Security benefits when they retire – in three prior readings, non-retirees were more inclined to predict they would not receive their benefits, a recent Gallup survey said.
Social Security Administration burdens seniors with push for clawbacks, lawmakers say
House lawmakers are demanding answers amid a report that Social Security benefits are overpaid to more than 2 million Americans annually, who are then contacted for repayment.
12% of retired Americans plan to return to the workforce in 2024: survey
Some 12% of Americans said they planned to work again in the New Year, with 61% citing rising costs as the reason, a recent Resume Builder survey said.
Social Security: COLA increasing but Medicare costs rising too in 2024
Social Security checks are increasing next year thanks to the annual cost of living adjustments (COLA). However, the standard monthly cost of Medicare Part B will increase by $9.80, or 6%, to $174.70 in 2024, according to the Centers for Medicare and Medicaid Services (CMS).
Social Security clawed back overpayments tied to COVID-19 stimulus – lawmakers want answers
Some Social Security recipients have erroneously seen their benefits suspended or have been assessed overpayments due to COVID-19 stimulus checks.
Social Security: Overpayment process changes underway after billions mismanaged
The Social Security Administration is reviewing its overpayment process after mispayment of billions worth of benefits that people must now pay back.
Social Security reform would restore full benefits to public workers
Reform to provisions designed to even the playing field between workers who paid Social Security and public sector workers who don't but benefit from a pension program could cost as much as $150 billion.
Social Security income is central to growing number of retirement plans: survey
One in five adults aged 50 or older said they have no source of retirement income besides Social Security, up from 13% in 2014, a recent Nationwide survey said.