The board of trustees of the Social Security trust funds projects that the combined fund will be able to provide full benefits until 2035, a year later than it predicted in 2023. The trustees released the2024 Old-Age, Survivors and Disability Insurance (OASDI) Reporton May 6, detailing the ...
According toSSA.gov, “You can receive Social Security retirement benefits as early as age 62. However, we’ll reduce your benefit if you start receiving benefits before your full retirement age. For example, if you turn age 62 in 2024, your benefit would be about 30% lower than it would...
The Social Security Administration announced in October that millions of Americans will get a 3.2% boost in 2024. The Social Security program pays roughly $1.4 trillion in benefits to more than 71 million people each year, including low-income individuals with disabilities. Taxes fund Social...
There have been concerns for many years that the Social Security system is simply not financially sustainable, and they're not unfounded. The 2024 annual report from the trustees of the Social Security and Medicare trust funds finds that:22 The Old-Age and Survivors Insurance Trust Fund will be...
A total of 6.2% of your gross pay goes to Social Security, and your employer typically kicks in an equal amount.3 If you earn more than $176,100 in 2025 ($168,600 in 2024), you don’t have to pay Social Security taxes on any additional earnings above that amount.45 ...
For those responsible for employment tax budgets, or just curious what the future may hold, following are the estimated Social Security wage-base limits for employers and employees for calendar years 2024 through 2032 as recently published by the Social Security Administration (SSA). (2023 Social...
Posted in Entitlements, Social Security, Social Security Privatization, tagged Entitlements, Social Security, Social Security Privatization on December 14, 2024| 3 Comments » Earlier this year, I cited the European Union’s latest Ageing Report to highlight the fact that private Social Security ...
The Social App Report provides hundreds of pages of statistics on the industry, covering all of the major social apps. In the report, we look at the financials of these apps, usage and install figures, and demographics. This report also includes benchmarking data of the social app industry....
As Congress negotiates federal funding for the 2024 fiscal year, Social Security beneficiaries can count on their checks, expert says.
The Future of Social Security Social Security may look drastically different in the next few decades, especially since theSocial Security Administration's 2024 Trustees Report estimates that the Old-Age and Survivors Insurance (OASI) Trust Fund, which pays out Social Security benefits, will be deple...