Comprehensive and meticulously documented facts about Social Security. Learn about Social Security's taxes, benefits, financial status, reform options, and more.
This article provides the first comprehensive description of the substantial effort and resources involved in developing and implementing the annual earnings and benefit statement that the Social Security Administration (SSA) began mailing in 2000 to all workers aged 25 or older. Details about the ...
Unemployment insurance benefits are not counted under the Social Security annual earnings test and therefore do not affect your receipt of Social Security benefits. However, the unemployment benefit amount of an individual may be reduced by the receipt of a pension or other retirement income, includin...
The Social Security Administration has released the yearly forecast of the program’s long-run finances. Jut like I did in 2023, 2022, 2021, 2020, etc, it’s time to see what to expect in the future. Based on the annual fiscal data in Table VI.G9 (which is adjusted for inflation),...
Social Security used to mail workers an annual earnings statement, but suspended those mailings recently to save money. Social Security resumed mailing paper statements to workers 60 and older who aren’t already receiving benefits and will mail paper statements to workers in the year they turn 25...
part of the annual appropriations process. The annual LAE appropriation, which is discretionary, is composed of funds from the Social Security and Medicare trust funds for their respective shares of administrative expenses, the Department of
In a statement, the Social Security Administration told us "our payment accuracy rates are high," yet "even small error rates add up to substantial improper payment amounts." The agency said it's "required by law" to recover this money…and added that overpayments are not nece...
This morning the annual report on the Social Security trust fund was finally released (it normally comes out in April). To read it in fullsee here, but a word of warning — it’s very long. Here are the key findings: “The projected point at which the combined Trust Funds will be ex...
If theSocial Security Administration (SSA)is still sending you an annual statement detailing your earnings, and it looks off, someone might be using your number for employment purposes. You can register to get statements at the SSA website.6 The Bottom Line Not everyone who requests your Social...
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 ...