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Social Security

All articles tagged with #social security

money13 days ago•2 min saved

April Social Security Payments: When Your Checks Arrive

Social Security benefits are paid on a schedule tied to the benefit type and birth date. For April 2026, SSA retirement/disability/survivor payments go out on April 3, 8, 15, and 22 (second/third/fourth Wednesdays depending on birth date), while SSI payments are issued on April 1 (with the date moving to the prior weekday if the 1st falls on a weekend or holiday). If a payment is missing, check with your bank first, and contact the SSA at 1-800-772-1213 if needed to report or replace a due payment.

via LiveNOW from FOX|

#benefits #money #payments

economy16 days ago•3 min saved

Six-Figure Cap Proposed on Social Security Benefits to Bolster the Program

A committee-backed proposal would cap Social Security benefits at $100,000 for couples (and $50,000 for singles), potentially saving up to $190 billion over 10 years and narrowing the program’s solvency gap by at least 20%. The cap could be indexed to inflation or wages to shield middle- and low-income retirees, and would target those earning above the current taxable maximum ($184,500). Critics, including AARP, warn the cap would cut earned benefits for wealthy seniors and could be a first step toward broader cuts.

via CBS News|

#aarp-reaction #benefit-cap #economy

politics23 days ago•23 min saved

GOP Pushes Constitutional Amendment That Could Erode Medicare and Social Security

Nearly every House Republican backed a proposed constitutional amendment that would bar federal deficit spending with a wartime exception, a move experts say would trigger deep cuts to Medicare, Social Security, nutrition programs and more. The final vote was 211-207, short of the two-thirds needed for ratification, with only one Democrat, Rep. Henry Cuellar, voting yes.

via Common Dreams|

#andy-biggs #deficit-spending #medicare

personal-finance27 days ago•4 min saved

Why Waiting Until 70 Often Maximizes Social Security

The article weighs the pros and cons of claiming Social Security at 62 versus waiting until 70, showing that while early claims provide immediate income, waiting yields larger monthly benefits that typically surpass early withdrawals over a lifetime (with a break-even around age 80). For most, delaying to 70 offers the best outcome, though exceptions exist for those needing money now, facing health issues, or exploring investing early benefits—despite market risks and the program's solvency concerns.

via USA Today|

#break-even #claiming-age #longevity

business28 days ago•3 min saved

Social Security Trust Fund Nears Insolvency, Urgent Reform Urged

Seeking Alpha warns the Old Age and Survivors Insurance Trust Fund could be depleted by fiscal year 2031, with the annual deficit widening due to demographics, high cost‑of‑living adjustments, and revenue‑reducing policy changes. If no action is taken, benefits could be cut by about 24% across the board, impacting roughly 70 million retirees and risking broad economic strain, prompting calls for bipartisan reform similar to the 1983 Social Security Act overhaul.

via Seeking Alpha|

#business #deficit #insolvency

politics1 month ago•12 min saved

Whistleblower Alleges Ex-DOGE Employee Exposed SSA Data

A Social Security Administration inspector general is investigating a whistleblower claim that a former DOGE software engineer accessed two highly sensitive SSA databases containing data on more than 500 million Americans and planned to transfer it to a private employer, potentially via a thumb drive; Sen. Ron Wyden and other lawmakers are calling for a full public accounting as the Washington Post corroborates details of the allegation, amid ongoing DOGE-related security concerns.

via HuffPost|

#data-breach #doge #politics

personal-finance1 month ago•9 min saved

SSA Goes National: 75 Million Seniors Redirected to Centralized Help

Starting March 7, the Social Security Administration shifts to a nationalized customer service system, redirecting about 75 million beneficiaries from local field offices to centralized support to boost efficiency and reduce in-person visits. The change aims to speed service through a digital-first approach, but could create access challenges for seniors without reliable technology, even as officials cite shorter call wait times and faster responses.

via Daily Express US|

#customer-service-transformation #digital-first-approach #personal-finance

politics1 month ago•1 min saved

Trump Proposes Universal Retirement Accounts with $1,000 Annual Match

Trump unveiled a plan to create retirement accounts for Americans without employer-based plans, offering up to $1,000 per year in matching funds funded via a box on tax forms and linked to an expanded SECURE Act, with potential philanthropic contributions; the move aims to boost savings access as concerns mount over the Social Security trust fund running dry by 2033, though more action is still needed.

via Axios|

#politics #retirement #secure-act

personal-finance2 months ago•36 min saved

Can $1 Million, Two Pensions, and Three Homes Support Early Retirement at 61?

A 61-year-old couple with $1 million saved, two lifetime pensions (about $14,000 a month) and three homes weighs whether they can retire early. With mortgages still decades from payoff, selling one property could unlock extra equity, but retirement feasibility hinges on current expenses, health costs until 65, taxes on withdrawals, and survivorship decisions. Market-win advisers say a fiduciary financial planner can help model timelines, optimize Social Security and Medicare, and craft a withdrawal plan to determine if retirement next year is realistic.

via MarketWatch|

#financial-advisers #pensions #personal-finance

politics2 months ago•3 min saved

Partial shutdown looms, risking federal pay and travel delays

A looming partial government shutdown could affect roughly half of federal workers—about 500k unpaid and 480k furloughed—while SNAP remains funded; Social Security and Medicare payments would continue but benefit verification and card issuance could pause, and travel may face delays as TSA operates without pay. Funding gaps would hit major agencies like Defense, Education, HHS, and Homeland Security, while others (Agriculture, Justice, Energy, Interior, Veterans Affairs) stay funded. Lawmakers are negotiating Homeland Security reforms to avert the shutdown, with a midnight Friday deadline.

via Axios|

#federal-workers #government-shutdown #irs

business2 months ago•82 min saved

Retirement expert says Social Security can’t be fixed—her alternatives for Americans

A retirement expert argues the U.S. Social Security system is beyond repair and outlines her recommended alternatives, emphasizing a mix of increased private savings, adjusted benefits, and broader policy reforms as the way forward for individuals and the economy.

via Yahoo Finance|

#business #demographics #policy

economy2 months ago•6 min saved

Social Security Faces a 2033 Crunch Driven by Demographics and Trump Tax Policy

The 2025 Social Security Trustees Report warns that the program’s old-age and survivors insurance (OASI) trust fund runs out of reserves by 2033, with a potential ~23% benefit cut needed to keep payments through 2099. President Trump’s 2024 tax law accelerates costs for the program (roughly $168.6 billion 2025–2034), pushing the depletion closer to 2032, but the bigger strain comes from demographics—slower birth rates, aging baby boomers, and reduced net immigration—along with a payroll-tax base erosion as earnings pass the tax cap. There are no easy fixes, and reform remains politically challenging.

via The Motley Fool|

#demographics #economy #oasi

politics2 months ago•3 min saved

Court filings reveal Doge staff exposed Americans' Social Security data, triggering Hatch Act probes

Federal court filings show Doge employees accessed and shared Social Security data via an unauthorized channel, including an encrypted file that may contain about 1,000 names and addresses; SSA learned of the breach in November and flagged potential Hatch Act violations, with referrals to investigators as lawmakers call for prosecutions in a lawsuit to block Doge from SSA access.

via The Guardian|

#court-filings #doge #doj

politics2 months ago•35 min saved

DOJ corrections flag possible misuse of SSA data by DOGE team over voter rolls

DOJ court filings reveal corrections suggesting two DOGE team members at the Social Security Administration had broader access to SSA data than acknowledged and may have helped an advocacy group match voter rolls for overturning election results; the filings also show data shared via the unapproved third‑party server Cloudflare, and Steve Davis was copied on a March 3, 2025 email that included a password‑protected file with private SSA data for about 1,000 people. SSA says the DOGE work was intended to detect fraud and modernize systems, but the disclosures raise Hatch Act concerns and questions about data handling; White House and SSA declined comment.

via Yahoo|

#cloudflare #doge-team #hatch-act

politics2 months ago•6 min saved

Justice Department flags possible SSA data misuse by Musk-backed DOGE team

The DOJ uncovers corrections to testimony about Elon Musk’s DOGE team at the Social Security Administration, showing two DOGE members may have exceeded approved data access, contacted an advocacy group aiming to overturn election results, and potentially used SSA data to match voter rolls. One member signed an agreement tied to this data use. A password-protected file containing about 1,000 private SSA records was copied on an email to Steve Davis, though it’s unclear if the data was accessed. DOGE allegedly used unapproved third-party servers (Cloudflare) to share data, contrary to SSA policy. SSA maintains DOGE never had access to SSA systems of record, but derived data may have been shared. The White House and SSA declined comment, and it remains unresolved whether any private information was actually accessed.

via Politico|

#data-privacy #doge #elon-musk