The Social Security Administration (SSA) recently confirmed the cost-of-living adjustment (COLA) for 2025, which will soon be reflected in the benefits retirees receive next year. Social Security benefits play a vital role for millions of Americans over 66, often constituting about 30% of their income. In fact, among those 65 and older, Social Security is … Read more
The Social Security Administration’s annual cost-of-living adjustment (COLA) affects millions of Americans relying on benefits for financial security. With the announcement of a 2.5% COLA increase for 2025, beneficiaries—including retirees, survivors, and individuals with disabilities—may see a modest bump in their monthly payments. Though lower than recent years’ increases, this adjustment reflects a slowdown in … Read more
As the holiday season nears, the Social Security Administration (SSA) has outlined its December payment schedule and announced a new check amount averaging $1,900 for eligible retired workers. This month’s payments include a unique timing adjustment due to the Christmas holiday. The SSA, responsible for disbursing monthly payments to over 70 million beneficiaries—including retirees, disabled … Read more
Donald Trump’s campaign pledge to eliminate taxes on Social Security benefits has garnered significant attention, especially among seniors who might be looking forward to tax relief in retirement. Although Trump now holds a second term with Republican control of the Senate and the House, making this policy change might still be challenging. Repealing Social Security … Read more
The Social Security Administration (SSA) will issue an unusual “triple” payment schedule for Supplemental Security Income (SSI) beneficiaries by December 31, 2024. This triple payment is designed to ensure beneficiaries receive their expected payments on time, even as some scheduled dates overlap with weekends and federal holidays. Here’s a closer look at what this means, … Read more
The recent announcement from the Social Security Administration (SSA) on the increase in the maximum taxable income cap for Social Security taxes will significantly impact both high earners and Social Security beneficiaries starting January 1, 2025. Currently, the maximum taxable income sits at $168,600; however, next year, this cap will rise to $176,100. This change … Read more
Since its inception in 1935, the Social Security Administration (SSA) has aimed to protect Americans from poverty, primarily through monthly benefits for retirees. However, SSA’s work extends far beyond just providing retirement benefits, as it oversees a variety of programs to aid vulnerable groups. Each program targets specific life situations where financial stability can be … Read more
Social Security plays a vital role in providing financial stability to millions of retired, disabled, and surviving family members each month. As of November 2023, the Social Security Administration (SSA) continues to deliver timely benefits that help individuals keep pace with inflation. For those eligible for retirement or disability benefits and born between the 1st … Read more
The Social Security Administration (SSA) distributes millions in monthly payments to retirees, survivors, disabled individuals, and recipients of Supplemental Security Income (SSI). Payments are scheduled across six rounds throughout each month. In November, both SSI and retirement, survivor, or disability insurance (RSDI) beneficiaries will receive payments on November 1, due to the third of the … Read more
For beneficiaries of Social Security, understanding the payment schedule is essential to plan finances effectively. The Social Security Administration (SSA) delivers monthly payments to retirees, survivors, and disabled individuals through programs such as Retirement, Survivors, and Disability Insurance (RSDI) and Supplemental Security Income (SSI). Payments follow a set schedule, but they can shift slightly due … Read more