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Spouses: 4 Essential Things Retired Couples Need to Know About Social Security Benefits

Retired couples in the United States should be aware of important information regarding Social Security benefits for spouses. Understanding these key details can help ensure financial security during retirement. Here are four things retired couples need to know about Social Security benefits for spouses. First, it’s important to note that a spouse can claim Social Security benefits based on their own work history, or they can receive up to 50% of their spouse’s benefit amount, …

Social Security Income Tax Phase-out Bill Passed by W.Va. House Delegates

CHARLESTON, W.Va. – West Virginia’s House of Delegates recently approved a bill seeking to gradually eliminate the taxation of social security income in the state. This move is a significant development in the effort to ease the financial burden on retirees and individuals receiving social security benefits. The bill, championed by Del. Larry D. Kump, aims to phase out the state income tax on social security benefits, a measure that has been in place for …

Seniors Challenged by Projected Social Security COLA Drop in 2025

WASHINGTON, DC – A forecasted drop in Social Security cost-of-living adjustments (COLA) for 2025 is likely to impact seniors as they struggle to keep up with rising prices and expenses. According to estimates, the increase in Social Security benefits may only reach 2.5%, falling behind the moderating inflation figures. The forecast comes from the Congressional Budget Office (CBO), which predicts a 2.5% increase, slightly higher than the 1.75% estimated by the Senior Citizens League (TSCL). …

Social Security March 2024 Payment Schedule and Retirement Benefits Explained

Montgomery, Alabama – The Social Security Administration (SSA) plays a crucial role in providing financial protection for millions of Americans through its retirement, disability, survivor, and family payment programs. These programs, including Retirement Insurance (RI), Survivors Insurance (SI), and Disability Insurance (DI), offer vital support during challenging life circumstances and contribute to reducing income inequality. Financed through payroll taxes, the programs aim to provide a safety net for vulnerable communities, ensuring financial security for retirees, …

Democratic Chair Nikki Fried Slams Rick Scott’s Social Security and Medicare Plan as ‘Out-of-Touch’ and ‘Tone Deaf’

Tallahassee, Florida – Florida Democratic Party Chair Nikki Fried recently criticized Senator Rick Scott’s longstanding plan to cut Social Security and Medicare benefits, calling it a “bad idea two years ago and even worse today.” Fried highlighted the detrimental impact Scott’s proposal would have on millions of Floridians, emphasizing the critical role of Social Security and Medicare in supporting the state’s seniors. Two years ago, Scott unveiled his plan to sunset Social Security and Medicare, …

2024 Social Security Maximum Payout Revealed in February’s Last Retirement Payment

NEW YORK, NY – The final Social Security payment for this month is scheduled to be distributed next week, with the maximum amount set at $4,873. On February 21st, the second of three Social Security payments for individuals who retire at the age of 70 and earn the highest income was distributed to retirees. According to the SSA’s schedule, retired seniors born on or between the 11th and 20th of their birth month should have …

Social Security Expansion Act 2024 Could Result in $2,400 Annual Benefit Increase for Recipients

WASHINGTON, D.C. – The Social Security Administration is proposing an increase in benefits payments known as the $2400 Cola Checks 2024 in response to inflation. If approved, this rise will result in an additional $2,400 in annual benefits for Social Security recipients. This increase would be especially significant for seniors whose annual cost-of-living increases have been eroded by inflation. The 2024 Social Security Expansion Act aims to improve payments for senior citizens who receive Veterans …

Maximizing Social Security Benefits: When Is the Best Time to Claim?

DEARBORN, Michigan – A reader recently reached out with a question regarding Social Security benefits. Turning 68 and working part-time, the reader earned $28,000 last year and estimates earning $36,000 to $38,000 this year. Her husband is already collecting his Social Security, having earned $25,000 last year. Seeking guidance, she wonders if she should apply for her benefits now or wait until she turns 70, as suggested by a financial planner. As with any decision …

Retirees at Risk: New Study Reveals Shocking Lack of Knowledge on Social Security Benefits

ORLANDO, FLORIDA – U.S. retirees are facing potential financial pitfalls as a study reveals that a shocking 78% of Americans aged 55 to 65 lack essential knowledge about Social Security benefits. According to the study conducted by a financial planning consultant, this lack of understanding puts retirees at risk of making “tragic mistakes” in their retirement planning. The survey found that nearly 80% of Americans approaching retirement or already retired struggled to answer 13 basic …