Social Security payment this week
Data from TSCL’s 2024 Senior Survey shows 62% of older Americans worry their retirement income won’t even cover essentials such as groceries and medical bills. Will 2026's COLA increase help?
The Social Security Fairness Act increased benefits to millions more retirees, including some who never claimed them.
An important footnote in the memo calling for a federal funding freeze exempted Social Security. The White House subsequently walked back the freeze after a federal judge issued a temporary restraining order.
Related: Suze Orman warns Social Security recipients of a looming threat. Substantial contributions to employer-matching 401(k)s and investments in tax-advantaged IRAs are also ef
Louisiana Senator Bill Cassidy said the Social Security Administration must implement the Social Security Fairness Act as quickly as possible.
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.
By now, all seniors on Social Security should have gotten their first checks for 2025. With the latest 2.5% cost-of-living adjustment (COLA) in effect, the average benefit has climbed to $1,976 per month. That's about $49 higher than the average in December 2024.
Unclear if sweeping executive order will affect Medicaid and other federal assistance programs for older Americans.
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.
Those who are unable to work in retirement may be eligible for other government benefits, depending on their income. Supplemental Security Income (SSI) is for the blind and disabled as well as low-income seniors. It provides a monthly check worth up to $967 per month for a qualifying individual or $1,450 per month for a qualifying couple.
The Social Security Fairness Act will provide benefit increases to more than 3 million individuals. But it's uncertain when they will see that money.