Social Archives - Page 65 of 73 - DR News - News, Retirement, Finance

Surviving Spouse Social Security Benefits: Understanding Your Options After Losing a Spouse

Tampa, Florida – A 69-year-old retired woman recently reached out with a question about Social Security benefits after the passing of her husband. The reader, who was twice widowed, wanted to know which husband’s benefits she was eligible to receive. This situation raised a common concern for many surviving spouses who may be unsure about their entitlement to Social Security benefits. The reader’s specific case brought up an interesting point about eligibility for survivor’s benefits …

Retirees Will Not Receive Social Security Payments in February Due to New Schedule

Residents of the United States who are retired and receiving Social Security payments may experience delays in their February benefits due to irregularities in the payment schedule. It is important for beneficiaries to understand the groups they fall into and when they can expect their payments based on their year of retirement and birth date. For pre-1997 beneficiaries, the payment usually arrives on the 3rd of each month, unless it falls on a weekend or …

Social Security Payments Increase by 4.4% in January: Find Out if You’re Eligible to Receive on 14 February

Chicago, Illinois – The new year has brought an increase in Social Security checks for retirees, with the average payment now at $1,909.01, a 4.4 percent rise from last year. This boost is due to a 3.2 percent Cost-of-living adjustment (COLA) and the higher average salaries of retirees who began claiming benefits over the past year. However, it’s important to note that while the average payment is just over $1,900, most beneficiaries do not receive …

401(K)s Tax Breaks Favored by Right, Abandoned by the Left as Plan to Plug Social Security Shortfall

Boston, MA – Tax benefits on retirement plans could be facing potential changes, as a new report claims that these benefits primarily advantage the wealthy. The report suggests that axing these tax benefits and redirecting those funds to Social Security could help bridge the shortfall in payments. According to a report co-authored by Alicia Munnell, a former assistant Treasury Secretary under President Clinton, and right-leaning economist Andrew Biggs, the current tax breaks on 401(K) and …

Assistance for Social Security and More: Helping Your Loved Ones Apply

In Inverness, Florida, many individuals struggle to navigate the process of applying for Social Security and other benefits. The complexities of the application process can leave people feeling overwhelmed and unsure of where to turn for assistance. Social Security benefits can provide important financial support for those who are unable to work due to disability, illness, or old age. However, the application process can be daunting, and many people are unsure of how to get …

Maximize Your Social Security with Holistic Retirement Planning Strategies

LEWES, DELAWARE – As Social Security approaches its 100th year in existence, many people are still uncertain about the best time to claim their benefits for maximum financial optimization. The decision of when to claim can have a significant impact on a person’s retirement portfolio and financial future, so it’s crucial to consider all factors before making a decision. It’s not just about maximizing the amount of money received from Social Security, but also about …

Senate Chair Urges President to Dismiss Social Security Watchdog Over Plunging Morale and Stalled Investigations

Washington, D.C. (AP) – The chairman of a powerful Senate committee is calling on President Biden to dismiss the lead watchdog for the Social Security Administration over issues related to ongoing investigations and declining staff morale. Senator Ron Wyden of Oregon, who chairs the Senate Finance Committee, voiced his concerns in a letter sent to the White House, questioning the effectiveness of Inspector General Gail Ennis’ leadership. Wyden described promises to establish a transparent and …

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 …

“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 …