Calculations Archives - DR News - News, Retirement, Finance

Retirement Benefits Eroded Over $1,700 Due to Flawed Social Security Calculations, Expert Reveals

Retirees in the United States have faced a concerning dilemma regarding their Social Security benefits, with experts pointing out significant losses in purchasing power over the years. According to financial analyst Trevor Jennewine, the way cost-of-living adjustments (COLA) are calculated has led to retirees missing out on more than $1,700 in retirement benefits. Despite seeing increases in Social Security benefits in recent years, Jennewine argues that seniors have actually experienced a decrease in their ability …

SSI Rule Change Removes Food Relief from Income Calculations, Boosts Financial Support for Millions

Chicago, Illinois – The Social Security Administration (SSA) has recently announced new regulations for Supplemental Security Income (SSI) that will impact millions of beneficiaries across the country. This significant change aims to improve the financial support for individuals receiving SSI benefits. Under the new regulations, relief in the form of food, categorized as support and maintenance in kind (ISM), will no longer be considered in the eligibility calculations for beneficiaries. Currently, relief for food and …

Social Security Administration Removes Food from Supplemental Security Income Calculations, Simplifying Eligibility Process

Washington D.C., U.S. – The Social Security Administration recently announced a significant change in the calculations used to determine eligibility for Supplemental Security Income (SSI) payments. As of September 30, food will no longer be included in these calculations, marking a shift in policy aimed at easing access to benefits for older adults and disabled individuals. Under the previous rule, in-kind support and maintenance items, such as informal food assistance from friends, family, and community …