Three months into his role as commissioner of the Social Security Administration, Martin O’Malley unveiled a new plan to tackle overpayment issues that have led the agency to demand some beneficiaries repay benefits. “We are no longer going to have that clawback cruelty of intercepting 100% of a payment if people do...
The Republican Study Committee, the largest group of conservatives in the House, are proposing raising the retirement age and a restructuring of Medicare as part of a new budget proposal. Under the RSC plan for Social Security, it would make "modest changes" to the retirement age for future retirees to...
And now, a significant 70% of women say that inflation and signs of a potential recession have made them rethink if — and when — they can retire, according to Nationwide’s ninth annual Advisor Authority survey. Further, women are broadly feeling less financially secure, said Ann Bair, senior vice president...
A new survey suggests most Americans think a traditional pension is better than a modern 401(k) plan for achieving a secure retirement. That finding invites a question: Why don’t more Americans have pensions?
Three months into his role as commissioner of the Social Security Administration, Martin O’Malley unveiled a new plan to tackle overpayment issues that have led the agency to demand some beneficiaries repay benefits. “We are no longer...
It sounds like a good thing until you have to pay it back. Most people would be thrilled to get a larger-than-average Social Security check, but if it's due to a clerical error, it could be the...
I won't keep you in suspense. According to the latest edition of Vanguard's "How America Saves" report, which is one of the most often-cited sources of 401(k) data, the average participant in a defined contribution plan in the 45-54 age group...
Millions of older Americans today receive a monthly benefit from Social Security. If you recently signed up to start taking benefits, you may be appreciative of the extra income. But if you're new to Social Security, it's important to know what to expect. Here are a few aspects of the...
Claiming age has a profound impact on Social Security benefits for retired workers. The Social Security Administration periodically publishes anonymized benefit data to promote understanding and foster transparency. The information is often slightly outdated when it becomes available, but it still provides useful insights. For instance, more than 3.4 million retired...
Planning for retirement is a journey filled with important decisions. One of the most critical choices to make involves deciding when to start taking Social Security benefits. While the benefits of early or delayed claiming are debated, each person's situation is unique, making this decision even more significant. The 2023...
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