The Social Security Fairness Act will boost benefits for 3.2M public workers once the agency can plow past multiple roadblocks. Here's what you need to know.
It took 40 years for Congress to pass a law to boost Social Security for public workers. Now, SSA says they must wait at least a year for the money.
In 2024, approximately 171 million American workers paid Social Security taxes, and nearly 72.9 million Americans received Social Security benefits. Personal finance bestselling author Dave Ramsey has a strong warning about the federal program.
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.
The Social Security Fairness Act increased benefits to millions more retirees, including some who never claimed them.
The first round of February’s Social Security payments, worth up to $5,108 for the highest-income earners who retire at age 70, will go out to the first group of retirees in 13 days. Here is all you need to know about next month’s Social Security payments, which go out in three rounds.
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.
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.
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.
Louisiana Senator Bill Cassidy said the Social Security Administration must implement the Social Security Fairness Act as quickly as possible.
This little-known restricted application rule can significantly boost retirement income for surviving spouses.
Unclear if sweeping executive order will affect Medicaid and other federal assistance programs for older Americans.