Not all is what it appears to be when it comes to the value of a Social Security dollar. For an overwhelming majority of retired workers, Social Security is more than just a monthly check. It represents a financial lifeline that they’d struggle to make do without. Since 2002, national pollster Gallup has surveyed retirees […]
Millions of Americans could soon feel the impact of the deep staffing cuts being planned at the Social Security Administration, which is undergoing a massive reorganization that the acting commissioner has acknowledged is being steered by Elon Musk’s Department of Government Efficiency. The loss of experienced employees who manage Social Security’s fragile and interdependent web […]
In June 2024, President Donald Trump told supporters at a campaign rally, “As president, I will not cut one penny from Social Security or Medicare.” He made a virtually identical statement in July 2024 on social media. “I will not cut one penny from Social Security or Medicare, and I will not raise the retirement […]
The outgoing Congress passed the Social Security Fairness Act at the end of last year which repealed two laws that reduced benefits for certain workers, their spouses and survivors who receive pensions for non-covered employment. The Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) reduced or eliminated the Social Security benefits for over 3.2 […]
(NewsNation) — More Americans are raiding their retirement savings to cover emergency expenses, taking early withdrawals from their 401(k)s. A record 4.8% of account holders took hardship withdrawals last year, up from 3.6% in 2023, according to Vanguard Group, which examined data from nearly 5 million people with 401(k)-type accounts. Hardship withdrawals let savers tap […]
The U.S. stock market has stumbled in recent weeks as the Trump administration imposed tariffs on goods imported from Canada, China, and Mexico, potentially starting a trade war. The market has been especially volatile because the White House has wavered on its trade policy, first imposing duties and then delaying or changing the terms. The […]
Last year was a pretty good year if you were among the tens of millions of employees who put their savings to work in a 401(k) plan. Sure, strong returns on the S&P 500 helped. It rose nearly 25% for the year. Same goes for the Nasdaq, which was up about 32%. And bonds made […]
This month’s Social Security payments are scheduled to land in the bank accounts of most retired workers in the U.S. in mid-March at the earliest. The same goes for many recipients of disability pay, Social Security Disability Insurance (SSDI), and survivors’ benefits who receive monthly instalments. When will Social Security payments be made in March […]
(NEXSTAR) – In an apparent example of government waste, Trump drew laughs during his congressional address Tuesday when he alleged that the Social Security Administration (SSA) had millions of beneficiaries well over 100 years of age. “Three-point-five million people from age 140 to 149,” Trump said, claiming that “money is being paid to many of […]
WASHINGTON − Elon Musk sharply criticized Social Security in a Friday podcast interview with Joe Rogan, labeling the critical elder benefits program a “Ponzi scheme.” Musk, who is the world’s richest man and an increasingly powerful adviser to President Donald Trump, also described the federal government as “one big pyramid scheme.” Musk is a leading […]
It is well known that the economic situation for the most needy households in the United States is not in the best shape, so the help that Social Security Income entails is of paramount importance, as well as the timely monitoring of the payment schedule for the dispersion of the resource. The Social Security Administration […]
March 3 (Reuters) – The U.S. Department of Health and Human Services told employees on Monday they could apply for early retirement over the next 10 days and should respond to a request for information on their accomplishments of the past week, according to emails seen by Reuters. Republican President Donald Trump and billionaire Elon Musk, who oversees […]
