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.
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.
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.
He's known as a Jamie Dimon protegé, a 9/11 hero, and an operational expert. Now Fiserv's Frank Bisignano can add government hell-raiser to his résumé.
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.
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.
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.
The maximum monthly SSI benefit for 2025 is $967 for an individual and $1,450 for a couple, compared to $943 and $1,415, respectively, in 2024. The increase resulted from a 3.2% Cost of Living Adjustment that started at the first of the year.
Unclear if sweeping executive order will affect Medicaid and other federal assistance programs for older Americans.
Learn how the Social Security Fairness Act may increase your retirement benefits by eliminating the Windfall Elimination Provision and the Government Pension Offset.