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The income calculation for Medicare and Social Security includes tax-exempt interest on municipal bonds.
The pandemic has created concerns about retirement security among millennials and Gen Xers.
Given their limited savings, current low interest rates and the ongoing rise in prices and out-of-pocket health care costs, most boomers need a financial lifeline.
Continued inflationary pressures could result in the largest cost-of-living increase in benefits since 1983.
The political infighting won't affect the $1 trillion in benefits Social Security sends each year to 65 million Americans. But it will likely make it more difficult to begin work on a solution to the program's long-term financial challenges.
71% of American adults worry that the program will run out of money during their lifetime and 19% say the pandemic has affected their plans to file for Social Security benefits, according to a Nationwide survey.
Here are strategies that can be helpful for clients who have regrets over the timing of their Social Security claiming decision, whether they claimed early rather than holding out for a bigger check or waited longer than necessary.
The estimate of lost income, due to planning mistakes alone, is separate from actual cuts to benefits, according to a recent academic paper.
The agency has unveiled a new 'express interview' process to help people apply for original or replacement Social Security cards and submit necessary proof of identity in person. But it encourages the public to continue to submit applications online.
But unemployment resulting from Covid could temporarily reverse that positive trend.
A senior advocacy group predicts benefits will rise 4.7% next year, based on the 0.8% increase in the April consumer price index.
Social Security Administration Commissioner Andrew Saul warns that underfunding the system will increase benefit delays.
The annual EBRI survey underscores workers' and retirees' optimism about the outlook for Social Security and Medicare.
To maximize benefits over the couple’s joint lifetimes, claiming her Social Security benefits early will likely result in the largest payout.
The level of knowledge is improving but the public still needs guidance on decisions about claiming benefits.
The National Association of Registered Social Security Analysts' program qualifies for CFP and CPA continuing education credits.
When a family member dies, the Social Security office will often ask for the last check back.
The agency includes new fact sheets that target different age groups and special situations, such as eligibility for benefits.
The application for benefits was submitted more than seven weeks earlier; persistence pays off in tracking down why the response took so long.
Can a divorced person still collect Social Security benefits on an ex’s earnings record?
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