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Social Security Administration May Withhold Full Benefits for Early Claimants Exceeding Earnings Limits

Social Security Administration May Withhold Full Benefits for Early Claimants Exceeding Earnings Limits

The Social Security Administration (SSA) has regulations that can lead to the withholding of full benefits for individuals who claim Social Security at age 62 while still earning above a specified threshold. For those born in 1960 or later, specific earning limits are in place, and exceeding these limits can result in deductions from their Social Security payments. The system is designed such that if an individual's earnings surpass the established limits, a portion or even the entirety of their benefits may be withheld. However, the SSA does make adjustments for these withheld amounts once the individual reaches their full retirement age, potentially increasing future benefits to compensate for earlier reductions.
TheStreetTheStreet
Dave Ramsey warns Americans on 401(k)s, IRAs, Social Security

Dave Ramsey warns Americans on 401(k)s, IRAs, Social Security

The bestselling personal finance author emphasizes a major financial consideration when saving for retirement.
Asheville Citizen-TimesAsheville Citizen-Times
2027 COLA increase announcement to come in October. Latest projections

2027 COLA increase announcement to come in October. Latest projections

The announcement for the 2027 COLA increase is expected to come in October. How much North Carolina retirees could see.
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Median Retirement Savings for Americans Aged 55-64 Stands at $185,000, Highlighting Need for Aggressive Saving

Median Retirement Savings for Americans Aged 55-64 Stands at $185,000, Highlighting Need for Aggressive Saving

Median Retirement Savings for Americans Aged 55-64 Stands at $185,000, Highlighting Need for Aggressive Saving
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Retirement Planning Emphasizes Lifelong Strategy and Flexibility for U.S. Individuals

Retirement Planning Emphasizes Lifelong Strategy and Flexibility for U.S. Individuals

Retirement Planning Emphasizes Lifelong Strategy and Flexibility for U.S. Individuals
Sarasota Herald-TribuneSarasota Herald-Tribune
$90 Medicare checks going to 1.4 million in Florida. Do you qualify?

$90 Medicare checks going to 1.4 million in Florida. Do you qualify?

More than 20 million Medicare Part B enrollees are getting $90 payments from the federal government, including almost 1.4 million In Florida.
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Baby Boomers Face Unprecedented Debt Levels in Retirement, Challenging Traditional Financial Planning

Baby Boomers Face Unprecedented Debt Levels in Retirement, Challenging Traditional Financial Planning

Baby Boomers are entering retirement with higher levels of debt than any preceding generation, a significant departure from historical financial planning norms. According to the Federal Reserve's Survey of Consumer Finances from 2022, approximately 69% of Baby Boomer households carried some form of debt. The median debt for Boomer households was $62,450, while the average was considerably higher at $147,122, influenced by a few households with exceptionally large balances. Younger Baby Boomers (ages 58-66) showed a higher propensity for debt (75%) compared to older Boomers (67-76) at 62%, and also carried more debt, with a median of $73,610 versus $43,000. This trend represents a substantial increase, with median debt for households aged 65-74 quadrupling since 1992, and for those 75 and older, it has more than septupled.
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South Carolina Disability System Faces Challenges Amid Staffing Shortages and Federal Control

South Carolina Disability System Faces Challenges Amid Staffing Shortages and Federal Control

A new state audit in South Carolina has revealed significant challenges within the state's disability determination system, particularly concerning delays in processing disability benefits. The audit, conducted by the Legislative Audit Council, highlights a complex relationship between state and federal agencies responsible for reviewing disability claims. South Carolina Disability Determination Services, a division of the South Carolina Vocational Rehabilitation Department, handles these determinations. While state employees make the decisions, the program is federally funded by the Social Security Administration (SSA), which also exerts considerable control over hiring and operational decisions. The audit found a 35% reduction in disability examiner staffing between January 2021 and June 2026, with 114 examiners lost during this period. Factors contributing to these shortages include employee turnover, pay concerns, and the loss of telework opportunities. Disability rights advocate Sue Berkowitz of the A...
TheStreetTheStreet
Jean Chatzky has strong new warning on 401(k), IRA danger

Jean Chatzky has strong new warning on 401(k), IRA danger

The former NBC "Today" show financial editor cautions Americans about a big retirement savings worry.
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DIY Investors Warned Against Seven Common Mistakes to Safeguard Wealth

DIY Investors Warned Against Seven Common Mistakes to Safeguard Wealth

DIY Investors Warned Against Seven Common Mistakes to Safeguard Wealth
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Generation X Faces Increased Tax Brackets in Retirement Due to Evolving Financial Landscape

Generation X Faces Increased Tax Brackets in Retirement Due to Evolving Financial Landscape

Generation X Faces Increased Tax Brackets in Retirement Due to Evolving Financial Landscape
Westchester County Journal NewsWestchester County Journal News
Social Security October 2026 payments: Why some SSI recipients get 2 checks

Social Security October 2026 payments: Why some SSI recipients get 2 checks

Some Supplemental Security Income recipients will receive two payments in October 2026 because November's benefit is arriving early. Here's the full Social Security and SSI payment schedule for the month.