Social Security
A variety of factors slow some individuals’ retirement saving, if not impede it outright—and one of them is student loan debt. A recent NTSA webinar looked at a step some entities pursue that affects those with loans as well as retirement saving—student loan forgiveness.
In a March 27 NTSA...
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Proposals to address the solvency of Social Security are almost as numerous as the warnings about it, writes John Iekel in MarketBeat; he discusses a recent report by the Congressional Research Service that examines the potential impact of some steps that could be taken.
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A trio of high-profile industry academics argue in a new paper that the government should limit contributions or accumulations in tax-advantaged retirement plans—or tax the earnings each year—to address Social Security’s shortfall, writes John Sullivan in MarketBeat.
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A resolution before the Alaska House calls for the state to join others in calling for the repeal of the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).
Rep. Alyse Galvin (I-Anchorage) introduced House Joint Resolution 18 on Jan. 22, 2024.
Alaska has the highest...
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Despite long being called the “third rail” of American politics, Social Security—or more precisely its viability—has reemerged as an issue in the 2024 presidential campaign, writes Nevin Adams in MarketBeat.
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The benefits of delaying Social Security benefits are by now generally accepted, writes John Sullivan in MarketBeat. And he discusses a recent analysis that suggests how to encourage more people to delay.
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The windfall elimination provision (WEP) reduces the Social Security benefits of certain workers who also are eligible for pension benefits from jobs not covered by Social Security. It engenders active discussion, and a Nov. 20 hearing offered a fresh opportunity for people to weigh in on the WEP—...
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The recently announced increase in the Social Security cost-of-living adjustment (COLA) for 2024 is much more modest than the one announced just a year ago. But milder or not, it has meaning. So what does it mean?
The milder-than-last-year hike in the Social Security COLA is due to the relative...
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Social Security—often cited as a “third rail”—has been a staple of the retirement landscape for almost 90 years. But that doesn't mean that it’s free of misconceptions; in MarketBeat, John Iekel discusses a recent commentary that highlights some to avoid.
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Teachers at a recent hearing called on the Massachusetts legislature to investigate the effects of the federal Windfall Elimination Provision (WEP) and Government Pension Offset (GPO).
The Joint Committee on Public Service July 25 held a hearing concerning Resolve S. 1656, which calls for an...
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Tech Talk addresses whether, and how, a 403(b) holder can take a loan from the account if the employer through which the 403(b) was started no longer exists.
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The American Retirement Association joined over 100 organizations—including major corporations, law firms, and advocacy organizations—in sending a letter June 29 to the House Ways & Means Committee seeking a two-year delay of the Roth catch-up requirement in SECURE 2.0 that requires anyone who...
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Concern about Social Security is as perennial as it is rife. A panel of experts in a recent seminar offered some suggestions for addressing the challenges facing the system.
Panelists in the recent National Institute on Retirement Security (NIRS) webinar “Social Security: What’s Next and New...
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Almost 70% of near-retirees either failed or barely passed MassMutual’s latest Social Security retirement benefits quiz. Over one-third failed (35%), and another one-third received a D (34%).
More than a quarter of near-retiree respondents did not know that if they have a spouse, the other...
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The third rail of American politics isn’t what it should be, according to Sen. Bill Cassidy (R-LA).
“We have to redefine what that third rail is,” Cassidy said when asked about prospects for a Social Security fix. “The third rail, according to our leading presidential candidates, is that you...
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Warnings that Social Security’s long-term solvency is questionable are not new. But how about a little good news? A recent analysis suggests that maybe all is not lost.
The glass is half full, argue Kathleen Romig, Director of Social Security and Disability Policy at the Center on Budget and...
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Social Security continues to face “significant financing issues,” says the Board of Trustees of the federal Old-Age and Survivors Insurance and Disability Insurance (OASDI) Trust Funds in its annual report to Congress. It notes that it has arrived at that finding in prior years.
The Board calls on...
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This new feature in the NTSA Advisor provides a look at what’s going on in the states and the most recent developments in their activity to provide and enhance retirement plan coverage.
Expanded Coverage Options for Certain FL Teachers Proposed
Legislation is before the Florida Senate and...
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Apparently it’s never too early to start thinking about the cost-of-living adjustments for Social Security.
While at this point such things seem to be highly speculative (to say the least), February inflation — as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (...
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A bipartisan group of Senators is spearheading an effort to draw attention to Social Security’s shortfalls and to help retirees better determine when to claim benefits.
Comprised of Sens. Bill Cassidy (R-LA), Chris Coons (D-DE), Susan Collins (R-ME) and Tim Kaine (D-VA), the lawmakers on March 6...
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