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2027 Social Security COLA Could Be One of the Biggest in Years. Here's the Catch.

2027 Social Security COLA Could Be One of the Biggest in Years. Here's the Catch.

Retirees could see a bigger raise in January, but rising prices and Medicare premiums may eat up much of the extra money.
USA TodayUSA Today
Social Security checks are coming. Who gets paid next?

Social Security checks are coming. Who gets paid next?

The next round of Social Security payments is approaching. Here's who gets paid next and the full October benefit schedule.
El Paso TimesEl Paso Times
Did you get an extra $90 from Social Security? Here's why

Did you get an extra $90 from Social Security? Here's why

Millions enrolled in Medicare are beginning to receive a $90 payment as part of a new initiative announced by President Donald Trump.
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Social Security Administration Warns SSI Beneficiaries to Report Changes to Avoid Penalties

Social Security Administration Warns SSI Beneficiaries to Report Changes to Avoid Penalties

The United States Social Security Administration (SSA) has issued a warning to beneficiaries of Supplemental Security Income (SSI) regarding the critical importance of reporting changes in their personal and financial situations. The agency emphasizes that failure to report these changes in a timely manner can lead to incorrect payments, the obligation to repay overpaid funds, and potential penalties that could reduce future benefits. Key changes that must be reported include alterations in income (such as wages, pensions, or unemployment benefits), financial resources (like bank accounts, vehicles, or property), employment status (starting, leaving, or changing jobs), address, housing situation, marital status, and immigration status. For those who are married and live with their spouse, changes affecting them must also be reported. If the benefit is for a minor, certain parental changes are also required to be reported. The SSA mandates that these changes be reported no later than the 10th day of the mon...
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Social Security Administration Details Conditions for Obtaining a New Social Security Number

Social Security Administration Details Conditions for Obtaining a New Social Security Number

The Social Security Administration (SSA) has outlined specific circumstances under which individuals may be eligible to request a new Social Security Number (SSN). This process is not routinely granted and is reserved for particular situations where the existing SSN poses significant problems. The SSA details these cases on its official website, emphasizing that while a new SSN can resolve certain issues, it can also introduce administrative and financial complexities. The agency maintains a link between the old and new numbers in its records to ensure accurate tracking of work earnings. Individuals seeking a new SSN must undergo an evaluation process, which includes scheduling an appointment, gathering necessary documentation to prove identity, age, and citizenship or immigration status, and providing justification for the request. An interview with an SSA representative is also required to determine if the situation meets the established criteria for a change.
TheStreetTheStreet
Social Security hides a double tax break inside one loss

Social Security hides a double tax break inside one loss

A year-end brokerage decision could shift how the IRS reads your return.
USA TodayUSA Today
Half of workers fear they will never fully retire

Half of workers fear they will never fully retire

Nearly half of working Americans doubt they'll ever be able to fully retire, a survey finds.
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Social Security Full Retirement Age Varies by Birth Year, Affecting Benefit Reductions

Social Security Full Retirement Age Varies by Birth Year, Affecting Benefit Reductions

The full retirement age for Social Security benefits in the U.S. is not a single fixed number but ranges between 66 and 67, depending on an individual's birth year. This sliding scale was established by the Social Security Amendments of 1983 and has been phased in over decades. While workers can begin collecting benefits as early as age 62, doing so results in a permanent reduction of their monthly benefit. The percentage of reduction increases for each month benefits are claimed before the full retirement age. For instance, someone born between 1943 and 1954, with a full retirement age of 66, would see a 25% reduction if they claim at 62. For those born in 1959, claiming at 62 results in a 29.17% reduction, and for those born in 1960 or later, with a full retirement age of 67, the reduction is 30%. Conversely, delaying benefits past full retirement age, up to age 70, can increase the monthly amount through delayed retirement credits.
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The 4 Percent Rule for Retirement Withdrawals Requires Adaptation for U.S. Retirees

The 4 Percent Rule for Retirement Withdrawals Requires Adaptation for U.S. Retirees

The 4 Percent Rule for Retirement Withdrawals Requires Adaptation for U.S. Retirees
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Federal Employees Retirement System (FERS) Provides Three-Tiered Retirement Benefits

Federal Employees Retirement System (FERS) Provides Three-Tiered Retirement Benefits

The Federal Employees Retirement System (FERS) is a comprehensive, three-tiered retirement plan that automatically covers all federal employees hired after December 31, 1983, or those who transferred into FERS during an open season. This system is designed to provide benefits for retirement, disability, and survivors. The three tiers consist of a basic annuity, Social Security, and a tax-deferred retirement savings and investment plan known as the Thrift Savings Plan (TSP). The Office of Personnel Management (OPM) administers the basic annuity, the Social Security Administration manages the Social Security benefits, and the Federal Thrift Investment Board oversees the TSP. Upon retirement, federal employees receive benefits from all three of these agencies, forming a robust and integrated retirement package.
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Food Industry Faces Margin Squeeze as Diesel Prices Surge 78% While Food Prices Remain Flat

Food Industry Faces Margin Squeeze as Diesel Prices Surge 78% While Food Prices Remain Flat

Food Industry Faces Margin Squeeze as Diesel Prices Surge 78% While Food Prices Remain Flat
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U.S. Retirement Income Taxed Differently Across Account Types and Income Levels

U.S. Retirement Income Taxed Differently Across Account Types and Income Levels

U.S. Retirement Income Taxed Differently Across Account Types and Income Levels