That said, you may qualify based on your spouse's record. The spousal benefit can be as much as 50% of the worker's benefit, depending on the spouse's age at retirement and if the spouse is eligible for retirement benefits based on their own earnings record. The Social Security Administr...
The maximum amount of an employee’s 2024 earnings (and a self-employed person’s net income) that is subject to the Social Security payroll tax is $168,600. This amount is also known as the Social Security annual wage limit, wage base, contribution and benefit base, cei...
Social Security benefits keep 16.5 million Americans 65 and older out of poverty. The reduction in benefits that would be required to balance outlays with receipts in the year Social Security is depleted would hit those just above the poverty line hardest, as well as those already living in po...
The first of these things has been the record of austerian deficit reduction efforts from 2010 to the present. The impact of austerity on economies the world over has been abysmal. Unemployment in many economies, including many of the Eurozone nations is now at levels not seen since the Great...
It's a quick turnaround to salvage what had been a bipartisan effort to pass the bill, called theSocial Security Fairness Act, during what's now the lame-duck post-election period of the Congress. What is the Social Security Fairness Act?
Social Security 2100: A Sacred Trust currently has202 Democratic co-sponsorsin the House of Representatives. It is one of several Democratic proposals that aim to tackle Social Security reform. While the proposals vary, each seeks to sweeten benefits while making the wealthy pay more into the pro...
What does the U.S. government view as “poverty” or “poor” (or, at least poor enough to be eligible for federal assistance). Am I living below that income level (assuming zero taxes)? Could I live below that level if I had to? So, what is the federal poverty line? Let’s ...
On July 21st in Washington, the U.S. President Joe Biden has ended his re-election campaign and endorsed Vice-President Kamala Harris to succeed him as the Democratic candidate for the 2024 U.S. presidential race. Biden shared his decision in a written s
Apayroll taxcap sets the maximum amount of earned income that is subject to the Social Security payroll tax. The payroll tax cap in 2024 is $168,600 (and rises to $176,100 in 2025).6 The SSA keeps track of your earnings throughout your career, indexes each year's total earnings, and...
Updated September 22, 2024 Reviewed by Thomas J. Catalano Fact checked by Maddy Simpson Part of the Series Health Insurance Basics What Is a Group Health Insurance Plan? Group Insurance health plans provide coverage to a group of members, usually comprised of company employees or members of an ...