Senior citizens are the ones with all of the guns and they are mad. They say that Congress should raise retirement age but NEVER reduce the already microscopic payments that Seniors already get. Congress has raised the third rail issue of Social security but https://socialsecurityworks.org , https://seniorsleague.org , AARP and most other Seniors lobby say it cause a ‘Civil War’.
Feb 13, 2022A recent report revealed that Social Security benefits could be reduced as soon as 2034 due to a shortage of funding beginning. See: When Social Security Runs Out – – What the Program…
The windfall elimination provision can’t reduce your Social Security benefits by more than half of the amount of your pension from the job at which your earnings weren’t subject to Social…
Your Social Security payments are calculated based on your 35 highest earning years in the workforce. If you don’t work for any of those 35 years, zeros are averaged into the calculation, which…
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Jan 3, 2023If you receive benefits and are under full retirement age and you think your earnings will be different than what you originally told us, let us know right away. You cannot report a change of earnings online. Please call us at 1-800-772-1213 (TTY 1-800-325-0778), 8:00 am – 7:00 pm, Monday through Friday, or contact your local Social Security …
To find out how much your benefit will be reduced if you begin receiving benefits from age 62 up to your full retirement age, use the chart below and select your year of birth. This example is based on an estimated monthly benefit of $1000 at full retirement age. Full Retirement and Age 62 Benefit By Year Of Birth Before You Make Your Decision
Jan 9, 2023It can reduce a beneficiary’s Social Security payment by up to one-half the amount of their pension payment. A similar rule, the Government Pension Offset (GPO), applies to people who receive Social Security spousal or survivor benefits as well as a “non-covered” government pension.
There are two ways to look at cutting Social Security benefits — i.e., reducing long-term program expenditures. These methods are: direct cuts and indirect cuts. The idea of directly…
7 days agoThe debt limit or debt ceiling is the total amount of money the U.S. can borrow to meet its legal obligations including Social Security and Medicare benefits, as well as military salaries, tax …
Jul 6, 2022And extra money from a part-time job or from investments can help stretch a Social Security check and make retirement more comfortable. However, people who opt to receive benefits before reaching full retirement age – age 67 for people born in 1960 or later – can only earn so much each year before Social Security starts reducing their …
3 days agoIf your combined income is $25,000 to $34,000 (single) or $32,000 to $44,000 (couple), up to 50 percent of what you get from Social Security is taxable. Above $34,000 for single filers and $44,000 for couples, up to 85 percent of benefits are taxable. Those rules mean retirees have options to reduce or eliminate the tax burden on their benefits.
