Here’s the Timeline for Social Security Cuts — and What Lawmakers Can Do to Avoid Them
There’s a rumor circulating that Social Security is headed toward bankruptcy. And thankfully, that rumor isn’t true. Social Security can’t completely go bankrupt because it gets funded by payroll taxes.
Paying Social Security Tax? Here’s How It’s Calculated
Social Security tax, officially known as the Old Age, Survivors, and Disability Insurance (OASDI) tax, is a mandatory payroll tax. Employers and employees each contribute 6.2% of the employee’s income,
Social Security Payments: Millions May Not Receive Boost For Over A Year
Callers to the SSA hear a message about the Social Security Fairness Act, intended to reduce long and frustrating wait times for those seeking information on the new law. However, more than 7,000 people per day still choose to wait for a live representative, leading to a backlog that is expected to grow in the coming weeks and months.
Social Security Fairness Act’s boosted payments may be a year away
Social Security beneficiaries who stood to see a boost in payouts as the result of a law approved earlier this month may have to wait a little longer than expected for higher payments. Under
Don’t Miss This Social Security Benefit for Older Parents
A child’s benefits can only begin once their parent has begun receiving retirement benefits. If a parent claims Social Security before their full retirement age, both their benefit and their child’s benefit will be reduced. However, claiming early for a reduced amount could still mean some families come out ahead financially.
Are You Eligible for the 2025 Maximum Social Security Benefits? Find Out Now
The year you were born, how much you've worked, and the year you claim your benefits determine how much you receive, but very few will qualify for the maximum benefit.
Social Security Payment This Week: Up to $967 To Be Sent Out
This Friday, January 31, SSI payments will be made to claimants across the U.S. from the Social Security Administration (SSA). Usually, SSI payments are made on the
Should You Claim Social Security at the Same Time as Your Spouse? Here's How to Know.
For one thing, you get the company of someone else at a time when you're not busy working every day and you may have a greater need for company. Also, if both you and your spouse have savings, you can pool that money and stretch it by sharing expenses like housing and transportation.
Social Security: Don’t Claim Benefits Until You Reach This Milestone
There's a magic number to know that can help you maximize your Social Security income when you are ready to retire. Trending Now: Need to Cut Expenses While on Social Security? Here's the First
First Social Security payments of 2025 coming soon; what to know in NJ
Over 162,000 New Jerseyans who are low-income, blind or disabled and rely on payments from the Social Security Administration will see their first paychecks for 2025 this week — and they will include a slight increase in funds.
3 Types of People Who Should Claim Social Security at 62
Claiming Social Security at 62 is popular strategy because it gives recipients the most checks. At the same time, it reduces the size of their checks by up to 30%. That's because the government penalizes beneficiaries for every month they claim benefits before their full retirement age (FRA),
Trump's Tax Plan Could Slash Social Security Benefits 33% By 2035, Ramsey Show Host George Kamel Weighs In
President Donald Trump's tax proposals are reigniting concerns about the future of Social Security. During his campaign for ...
Here are changes Americans would make to close Social Security's financing gap
Social Security benefits may be reduced in the next decade due to a financing shortfall. A new survey asks Americans how they ...
Worried About How President Donald Trump's Social Security Plans Could Affect Your Retirement? Do These 4 Things to Prepare Now.
Those who are unable to work in retirement may be eligible for other government benefits, depending on their income.
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What you need to know about the Social Security Fairness Act
On January 5, 2025, the Social Security Fairness Act was signed into law, marking a major reform for public sector workers, ...
Trump's no-tax-on-overtime proposal: What to know
President Donald Trump has pledged to end taxes on overtime pay, as well as other things like tips and Social Security.
Social Security Cost-of-Living Adjustment (COLA) Update: Here's the Projected Increase for 2026
With the latest 2.5% cost-of-living adjustment (COLA) in effect, the average benefit has climbed to $1,976 per month. It's ...