SOCIAL SECURITY

Some lawmakers want to revise the retirement program to shore up its funding and boost benefits for its 69 million recipients.

Older Americans who rely on Social Security for income have been forced to make some tough financial choices amid record high prices.

Some lawmakers want to revise the retirement program to shore up its funding and boost benefits for its 69 million recipients.

New data shows which states have been hit hardest with regard to Social Security staff losses and declines in disability services.

The plan is very unlikely to draw GOP support, given their resistance to tax increases to pay for expansions of benefit programs.

A new Democratic plan calls for repairing Social Security's trust funds by raising taxes on the wealthy, while also making benefits more generous.

Miah Cerrillo, a 4th grader at Robb Elementary School, recalled smearing herself in a classmate's blood to appear as if she were dead.

Time is ticking as to how long Social Security will be able to pay full benefits. A new survey lets voters decide how they would fix the program.

If you're buying municipal bonds, the interest may trigger higher Medicare premiums. Here's what to know before piling in.

A stronger-than-expected economic recovery from the pandemic has pushed back the go-broke dates for Social Security and Medicare, but officials warn that the current economic turbulence is putting additional pressures on the bedrock retirement programs.

An independent watchdog this week opened a broad investigation into Social Security Inspector General Gail Ennis and her office following a Washington Post report that revealed massive penalties an anti-fraud program has imposed on disabled and elderly people.

It may come as a surprise that your Social Security income may be taxed. Here's how those levies work, and how Congress may change them with future reform.

Unemployment claims might not be a reliable measure of actual layoffs.

Many Americans retire without enough savings. These resources can help them make ends meet.

A spouse's death can cause a devastating loss of income for their partner. Social Security benefits may be adjusted to help pare those losses, research finds.

Olivia and Liam are once again America’s most common baby names.

As women begin to control ever more of household assets in the U.S., financial services firms must adapt to find betters ways to meet female clients' needs.

Supplemental Security Income benefits for the disabled, blind and elderly have strict asset limits. Now, two senators want to raise those caps.

Making higher earners pay more into Social Security is a popular idea with many Americans. Here's how such a change could work.

Deciding when to start receiving monthly Social Security checks is a time sensitive, high stakes decision. Why what you don't know can hurt you.

Efforts to expand Supplemental Security Income benefits to U.S. territories suffered a setback on Thursday.

Consumer prices jumped 8.5% in March from a year ago. Here's how retirees can cope with higher prices amid rising inflation.

Supplemental Security Income benefits place strict restrictions on what people can earn. Changing those rules could help lift beneficiaries' incomes.

Romney appears to be open to making it harder for Gen Z and millennials to retire down the road. He wants to address the national debt.

Fraudsters prey on fear to get people to cough up money. Here's what to watch out for and how you can help stop these schemes.

New York City officials announced the city will no longer take all Social Security checks from children to pay for foster care. Last year NPR and The Marshall Project investigated the common practice.

Dear Rusty: I just turned 64 and now get stuff about Medicare and Medigap and so on. I really don't know how to retire when it's time.

The economy keeps getting more volatile, but it’s not all bad. You just may need a different attitude about working in your golden years.

We count on Social Security, to which we have contributed since we started our careers, only to have it taxed

It was diplomatic from McConnell. But it was still brutal.

Highlights of this day in history: Germany's Reichstag burns, giving the Nazis under Adolf Hitler a pretext to seize absolute power; A cease-fire ends the Persian Gulf War; Actress Elizabeth Taylor born; Children's TV host Fred Rogers dies. (Feb. 27)

A storm heading east dropped snow across wide swaths of Colorado on Feb. 16.

The federal government can seize certain payments to satisfy delinquent debts. The U.S. Department of Education suspended the practice until after Nov. 1.

There are thousands of claiming rules for Social Security. Knowing the ins and outs for your situation can help make your whole family wealthier.

In Mexico, retiree and American expat Janet Blaser lives an affordable lifestyle, where she spends less than $160 on eating out and shopping. From groceries to transportation to fun activities, here's what $5 or less can get you in Mazatlán, Mexico.

For most Americans, retiring early is one of the worst financial mistakes that they'll end up regretting, according to a Harvard economist. The reason, he says, is simple: People are bad at saving money.

Many older workers were forced off the job during the pandemic. Here’s what they need to know before going back.

While you can start Social Security payments at age 62, your monthly checks are reduced if you begin collecting benefits at this age. To claim your full benefit, you need to sign up for Social Security at your full retirement age, which varies by birth year.

You may be able to collect Social Security benefits based on your ex-spouse's work record. But you have to reach a key anniversary date before you're eligible.

Some lawmakers and Social Security advocates are hoping to change the way the program's annual cost-of-living adjustments are calculated.

Once the region’s no-frills, free-market poster child, Chile needs more government spending, not less, to sustain its growth trajectory.

She founded the Pension Rights Center to monitor corporate pension funds and helped draft legislation to protect retirees.

Investing $1,000 per month until you retire could maybe make you a millionaire if you begin saving early. Here's a case study.

Retirees who are already contending with higher prices for food and health care may not cheer when they receive their Social Security checks in January.

The head of a Senate panel that oversees Medicare says the Biden administration should cut back a hefty premium increase soon to hit millions of enrollees.

The pandemic set some retirement savers back. Still, others have been able to put even more money aside.

A Congressional bill aims to boost Social Security benefits through higher payroll taxes for the wealthy. Here's a rundown of the plan.

The size of your Social Security checks will be based on your previous income, the year you were born and the age when you start receiving benefits.

A healthy diet is one of the most effective ways to protect retirement savings.

Northrop Grumman's uncrewed Cygnus spacecraft departed the International Space Station on Saturday, more than three months after delivering nearly 8,000 pounds of supplies, scientific investigations, commercial products, hardware, and other cargo.(Nov. 20)

The Consumer Price Index, a measure of inflation, is up 6.2% from a year ago. Still, getting a raise under 6% doesn't always mean you're taking a pay cut.

Carrying some debt in retirement isn't necessarily bad if it doesn't put a financial strain on your retirement income. Credit cards pose a bigger challenge.

Social Security benefits are poised to get their biggest increase in decades next year. But those monthly checks may not go as far.

Rising inflation is expected to lead to a sizeable increase in Social Security’s annual cost-of-living adjustment, or COLA, for the year 2022.

The sharp shock of the coronavirus recession pushed Social Security a year closer to insolvency but left Medicare’s exhaustion date unchanged, the government reported Tuesday.

Millions of families across the nation are seeing the child tax credits hit their bank accounts Thursday.

Even for those of us who think we have some knowledge about anything tax related, it can be a stressful time. And it's certainly not a time when you want to play a guessing game.

WASHINGTON – Social Security recipients will get a modest 1.3% cost-of living-increase in 2021, but that might be small comfort amid worries about the coronavirus and its consequences for older people. The economic fallout from the virus has reduced tax collections for Social Security and Medicare, likely worsening their long-term financial condition. The former vice president would raise Social Security taxes by applying the payroll tax to earnings above $400,000 a year. That amount generally increases, so at least some of any additional Social Security raise goes to health care premiums. That prompted Congress to pass recent election-year legislation that limits next year’s premium increase but gradually collects the full amount later on under a repayment mechanism.

ROANOKE, VA. – The IRS has reversed its decision requiring those on social security to file tax returns in order to receive a stimulus check. Now, they will not have to file a return to receive the money the government is sending out automatically to most people. “We want to make sure these direct deposit payments to Virginians get out with the least amount of bureaucracy as possible. The idea that folks on social security were going to have to go through and file a form made no sense,” said Warner. Social security recipients with direct deposit will have the money automatically deposited into their accounts, others will be mailed a check.

MONTGOMERY COUNTY, Va. - The Montgomery County Sheriff's Office is warning seniors to watch out for a potential government imposter scam. The Federal Trade Commission has received reports of callers claiming to be from Medicare asking people for their Social Security numbers, Medicare numbers and other personal information in exchange for "free" DNA testing kits. Companies are targeting people at senior centers, housing complexes and other community locations to promote "free" genetic testing, cancer screenings or DNA testing. In this scam, the targeted seniors are told that these tests will be covered by Medicare. The FTC is reminding consumers that Medicare does not market DNA testing kits to the general public.

Americans have forfeited at least $450 million this way to government impostor scams since 2014, the FTC said and that only counts the victims regulators know about. Government impostors became the number one source of FTC complaints and now account for the lion's share of impostor scams overall. "Toward the fall, we started to see these scams really, really pick up." Thousands of consumers who reported the scam this year told the FTC they lost money. Last week, the FTC, Justice Department, and various states and local authorities brought nearly 100 cases against alleged robocallers.

Figuring out what you owe can be complicated, here is some information to understand what is taxable under Social Security. Social Security is taxable at three different levels, based upon how much other income you have and your income tax filing status. This is 50% of your household Social Security benefits plus all of your other taxable income, plus any tax-free income. These breakpoints are the same if your filing status is Married Filing Separately and the couple does not live together during the tax year. If your Provisional Income (defined above) is less than the first breakpoint based on your filing status, then none of your Social Security is taxable.