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Social Security

So is there a retirement crisis or not? House Budget Committee members and experts who testified before the committee on May 15 did not agree. But at least they did concur on one thing: the need to take action to bolster the retirement readiness of those who are not well-prepared. Testifying... READ MORE
With the recent release of the Social Security Trustees’ 2019 report, there appears to be a renewed focus on Social Security and “stabilizing” the nation’s retirement plan.  Before efforts are made to stabilize Social Security, a hard question must be addressed. As currently designed, is the... READ MORE
In MarketBeat, John Iekel looks at the Congressional Research Service's updated report on the Social Security retirement age, which discusses trends concerning and affecting that threshold and how that age may relate to addressing the challenges facing the Social Security system. READ MORE
The IRS has issued tables concerning covered compensation under Internal Revenue Code Section 401(l)(5)(E) and Treas. Reg. §1.401(l)-1. The data is contained in Revenue Ruling 2019-6. These tables provide information on covered compensation based on calendar year of birth and Social Security... READ MORE
The average lifespan now is much longer than it was for previous generations. That’s good news! But that half-full glass has effects beyond the obvious. Among them: posing challenges and complications for retirement accounts and planning, which a recent analysis examines.  In “How Life Expectancy... READ MORE
Social Security and Supplemental Security Income (SSI) benefits for more than 67 million Americans will increase 2.8% in 2019, the Social Security Administration announced Oct. 11. The 2.8% cost-of-living adjustment (COLA) will begin with benefits payable to beneficiaries in January. For SSI... READ MORE
By 2030, all Baby Boomers will be at least age 65 and more than likely drawing income on their Social Security record, and more than one in five Americans will be of retirement age. In MarketBeat, Frank Owen offers some thoughts on Social Security and how to address the challenges it faces. READ MORE
Every year, the IRS issues thresholds and contribution levels relevant to retirement benefits, as well as their administration and taxation. In MarketBeat, Susan Diehl provides 2017 levels that will be of special interest to those who serve, provide and rely on retirement plans. READ MORE
There will be a 0.3% cost-of-living adjustment (COLA) for Social Security for 2017, the Social Security Administration (SSA) announced on Oct. 18.The COLA is based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2014 through the third quarter of 2016. The slight... READ MORE
You have a client who began to draw Social Security at age 62. He has a part-time job and participates in a 403(b) plan. He knows he’ll lose some Social Security benefits due to how much he earns at his job. In Tech Talk, Ellie Lowder tells us whether pre-tax deferrals to his 403(b) plan will... READ MORE
Suppose a school district is considering hiring a retiree older than age 62 and who is collecting Social Security. The district and the employee are trying to find a way to keep the employee’s income from exceeding the Social Security income threshold. In this week’s Tech Talk, Ellie Lowder tells... READ MORE
Many sobering reports have been issued regarding the degree to which U.S. workers are preparing — or not — for retirement. The Bipartisan Policy Center’s (BPC) Personal Savings Initiative (PSI) may not be the first effort that seeks to help turn the tide of poor savings rates, but it has heft and... READ MORE