Social Security is poised to run out of money to pay full benefits in the not-too-distant future, and while potential solutions exist, they must be implemented or the program will cut benefits. If you’re concerned about that prospect, you should begin taking action today to minimize ...
After her husband died, Paternostro discovered she couldn't collect his Social Security benefits due to a pair of federal policies called the Windfall Elimination Provision and the Government Pension Offset. These provisions reduce or eliminateSocial Securitybenefitsfor millions of Americans if they rec...
Social Security stopped sending automatic statements in 2011, due to the cost of $70 million per year. It is imperative to know where you stand in regards to these potential benefits. You must sign up for online access to your statements. Social Security also offers an amazing downloadable ...
as are private pension plans. People can choose to retire early to trigger the payments, increasing the cost of the annuities. In the U.S. Social Security System, the offer to let people retire early beginning at 62 years of age with reduced benefits is a potential source of moral hazard...
Social Security benefitsRetirementLongevityEarningsDistributional AnalysisLifetime BenefitsDifferential MortalityMicrosimulationLong-term increases in life expectancy have varied for individuals with different lifetime earnings levels. This article examines two hypothetical adjustments tReznik, Gayle Leah...
Social Security is also only invested in U.S. treasury bonds, which provide a low rate of return. There have also been calls for the program to invest in assets that are riskier, but may have a potential higher reward. “The challenge with that is you have to balance the trade offs th...
Social Security benefits are primarily retirement payments, but when someone in your family passes away, you might be entitled to survivors benefits.
That’s because this change will obligate the payment of more Social Security benefits to people who are not paying into the system. …Maya MacGuineas, president of the Committee for a Responsible Federal Budget, said in a press release. “…it just restores windfalls for folks who have other...
Definition of Social Security Benefits Social Security benefits refer to government-funded financial benefits that are provided to eligible individuals who have worked and paid into the Social Security system. These benefits are designed to provide a steady stream of income during retirement, as well ...
who has no right or claim to the receipt of these benefits, currently or in the future. Were a potential beneficiary of SSB to fail to claim timely his or her benefit, it would be lost forever. A year’s — or even a month’s — delay in applying for SSB cannot be rectified; ...