Security Archives - Page 68 of 75 - DR News

Social Security Alert: Nikki Don’t Lose That Number for Unclaimed Benefits

Los Angeles, California – Social Security is essential for many people in the United States, providing financial support during retirement and in the event of disability. However, the process of applying for and receiving Social Security benefits can be complex and overwhelming for some individuals. In recent years, there has been an increase in the number of individuals who are being denied Social Security benefits upon their initial application. This has led to a growing …

Retirement Experts Weigh in on Social Security and Medicare Future Funding

Cleveland, Ohio – As the future of Social Security and Medicare remains uncertain, financial advisors across the country are planning for the possibility of reduced benefits for their clients. The potential funding shortfalls facing both programs could lead to cuts in benefits within the next decade if no action is taken by Congress. With Social Security facing the possibility of a 20% benefit cut after 2034 and Medicare’s hospital insurance fund projected to only cover …

Homeland Security Secretary Alejandro Mayorkas Narrowly Dodges Impeachment Vote Over Migrant Crisis

WASHINGTON, DC – In a dramatic and decisive vote, the Republican-led House of Representatives narrowly failed to impeach Homeland Security Secretary Alejandro Mayorkas over the ongoing migrant crisis at the US-Mexico border. The vote, which ended in a 216-214 decision against the impeachment measure, saw four Republicans break ranks and join all Democrats in the chamber. This outcome, amid heightened tension over border security, underscores the growing political volatility surrounding immigration in the lead-up to …

“Pension Puzzles” – Navigating the Windfall Elimination Provision and Early Social Security Benefits

AUSTIN, Texas – Many individuals face uncertainty about their Social Security benefits, especially when it comes to factors such as pensions and continuing to work. One such individual, a 63-year-old state employee from Illinois, seeks clarity on whether their Windfall Elimination Provision (WEP) reduction will be eliminated if they continue working in a job that contributes to Social Security. The Windfall Elimination Provision (WEP) is a rule that applies to individuals who have earned a …

Social Security Retirement Income: Statistics and Maximum Benefits in 2024

San Francisco, CA – Social Security benefits are not intended to be the sole source of income for retirees. Typically, these benefits are designed to replace about 40% of an average worker’s salary. Many financial planners assert that retirees will need approximately 80% of their pre-retirement income to maintain the same standard of living after leaving the workforce. As a result, the majority of Americans rely on other sources such as savings in 401(k) or …

Disabled Adult Children (DAC): Navigating Social Security Benefits for Parents of Disabled Adults

Columbia, MD – The Social Security Administration provides benefits to minor children of retirees, but did you know that these benefits can also extend to disabled adult children (DACs)? Since its inception in the 1930s, the Social Security program has allowed minor children to receive benefits based on a retiree’s record. These benefits usually stop when the child turns 18, but if the child is disabled, they can continue to receive benefits indefinitely. To qualify …

Social Security Tax Elimination Bill Would Extend Program Shelf Life in a ‘Win-Win’ Situation

Sen. Shelley Capito (R-WV) and Sen. Ben Cardin (D-MD) have reintroduced a bill in the United States Senate that aims to eliminate federal income taxes on Social Security benefits. The proposed legislation, known as the “Senior Tax Halt Act,” is not only designed to provide relief to retirees and seniors but also to extend the shelf life of the Social Security program. The bipartisan effort has been praised by advocates for seniors and retirees, who …

Retirement Age Flexibility: The Potential Blessing and Curse of Early Social Security Filing

Philadelphia, PA – Seniors in the United States have the option to choose their Social Security filing age, but this decision comes with both pros and cons. Many may find it appealing to receive their money sooner, especially if the need is urgent. However, filing early could lead to long-term financial difficulties, making it crucial to carefully consider the implications of such a decision. When discussing early Social Security claims, it typically refers to signing …

Social Security Strategies: Start Early for Maximum Benefits in Retirement

Denver, CO – As retirement approaches, understanding the intricacies of the Social Security program is crucial for making informed decisions. With a bit of planning and strategic thinking, individuals can maximize their benefits and integrate them into their overall retirement financial plan. Seeking advice from a qualified individual is essential, as each person’s situation is unique. Relying on friends or neighbors, or making decisions based on emotions can lead to costly mistakes. It’s important to …

Civil Service Retirement System and Social Security spousal benefits

Washington, D.C. – A retired federal employee under the Civil Service Retirement System (CSRS) expressed concern about how his wife’s eligibility for full Social Security benefits will impact his CSRS annuity. The retired employee also inquired about the potential effect of his CSRS retirement on his wife’s Social Security benefit. According to expert Reg Jones, the retiree’s wife’s Social Security benefit will not affect his CSRS annuity, and vice versa. However, the retiree can expect …