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New legislation signed by President Biden will boost monthly benefits for nearly 3 million public sector employees in 26 states.

The Social Security Administration (SSA) advises you to apply for retirement benefits three months before you want your benefits to begin. Even if you have no plans to receive retirement benefits, you should still sign up for Medicare three months before age 65. 

Come January 1, 2025, retirees are on track to see their Social Security benefits checks rise slightly once again, by 2.5 percent, or an average of about $50 per month. This will bring the average payout per month for retirees to $1,976.

On July 12, 2024, the SSA announced a change affecting many account users. Those who created a my Social Security account before September 18, 2021, must transition to a different type of online account known as a Login.gov. With a Login.gov account, you can continue to access to the SSA’s online services.

spouses, also receive a monthly benefit from Social Security. Spouses can collect Social Security benefits based on their fellow spouse’s work records. These benefits are also available to divorced spouses who meet certain criteria, even after an ex-spouse has remarried. Divorced spouses are entitled to survivor benefits as well in some situations.

A bill is floating in Congress to change the formula used to calculate Social Security benefits for older adults. If passed it would mean bigger payouts for seniors.

According to the Social Security Administration (SSA), 69.1 million people benefit from Social Security programs, such as Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI).

In 2023, recipients of Social Security benefits saw the biggest increase in decades in their monthly checks. Although their payouts will indeed rise again in 2024, the cost-of-living adjustment (COLA) will be more modest – just 3.2 percent, versus the nearly 9 percent boost in 2023.

The Social Security Administration (SSA) website hosts a wealth of online tools that offer you convenient access to benefits information. To make the most of these tools, simply create a my Social Security account online. It is free to set up a mySSA account.

Do you have a friend or loved one who receives Social Security and is unable to manage her payments? If so, you can request that the Social Security Administration (SSA), the government agency that disburses Social Security, name you as the representative payee for that person.

When loved ones pass away, there are lots of considerations, including what happens to their Social Security. The decedent's payments need to be stopped, but survivor's benefits may be available to the spouse or, in certain cases, children.  Social Security benefits stop at death. ...

If you need a lot of cash on hand upon retirement, Social Security offers a lump-sum payment option that’s worth six months of benefits. However, it comes at a cost. It is important to understand the details before agreeing to the payment.

The decision of how long to wait to claim Social Security benefits depends on a number of factors, including other income sources in retirement and projected longevity.  But Social Security experts advise waiting as long as possible to start collecting benefits, up to age 70. 

The Social Security trustees are projecting that due to the economic downturn caused by the "pandemic" the Social Security trust fund will be depleted in 2033 -- one year earlier than the previous estimates. Once the fund is depleted, Social Security benefits will be reduced unless Congress acts in the interim. 

Studies have found that workers overestimate how much they will receive in Social Security benefits when they retire. Having a good understanding of the realities can help you plan for retirement. 

This year, Social Security benefits will rise 5.9 percent, the sharpest upsurge since 1983’s 7.4 percent jump. 

The coronavirus pandemic is having a profound effect on the current U.S. economy, and it may have a detrimental effect on Social Security’s long-term financial situation. High unemployment rates mean Social Security shortfalls could begin earlier than projected.

There often comes a time in a older adult's life when he or she cannot handle his or her finances any longer. The usual solution is to already have a general durable power of attorney in place that authorizes a trusted person (such as a healthy spouse or an adult child) to handle the elder's financial affairs in the event of incompetency or other disability. This is a sound strategy but, unfortunately, does not apply to management of Social Security benefits. This is because the Social Security Administration (SSA) simply does not honor powers of attorney and, because SSA is a federal agency, they do not concern themselves with state laws that require financial and other institutions to honor valid power of attorney.

If you get Social Security disability or retirement benefits and you get married again, there are four ways in which remarriage may affect your benefits:

Social Security survivor's benefits provide a safety net to widows and widowers. But to get the most out of the benefit, you need to know the right time to claim.  While you can claim survivor's benefits as early as age 60, if you claim benefits before your full retirement age, your benefits w...

Benefits are available to ex-spouses under certain circumstances. As retirement approaches and Social Security benefits become available, it is important for divorced people to be particularly aware of their entitlement rights, according to Yahoo! Finance in “3 Things to Know About Social Sec...

Social Security is likely to be very important to your retirement. But wait, the amount can vary. Figuring out when to begin taking Social Security can be a real challenge, because the time to begin filling your claim ranges from the age of 62 to 70, according to the Independent Record in “The...

Social Security options need to be approached carefully. Many people have been known to confuse “Restricted Application” with the “Claim and Suspend” strategy and that can cause some problems, according to Forbes in “Put Thousands In Your Pocket By Taking Advantage Of the Social Security...

It is your future and your money. Learn everything you can about the program. Social Security is an entitlement, and you have worked long and hard for it. It would be best to take the time to investigate what you will receive and when it would be best to take it, according to the AARP Bulletin...

Open and honest communication can be the key to a good estate plan. Most married couples have a small age difference.  However, for those who don't, it is possible that there can be complications, according to the Reno Gazette Journal...