Social Security on the Brink?
Latest Social Security Solvency Update Sees 2035 Depletion Date
The combined asset reserves of the Old-Age and Survivors Insurance and Disability Trust Funds are projected to become depleted in 2035, which is one year later than projected last year.
Workers Remain Optimistic About Retirement
Workers are confident that they will have enough money for basic expenses during retirement.
The State of Social Security: Mixed Perspectives
Most Individuals Not Considering Social Security’s Part in Retirement Income
Study findings suggest that communicating about Social Security’s online portal could improve retirement preparedness, especially for low-income employees.
How Advisers Can Help Low-Income Workers Save in Employer-Sponsored Plans
Social Security Benefits Will Grow 5.9% in 2022 Amid Renewed Inflation Concerns
The important federal benefit increases when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers, or the ‘CPI-W.’
Lawmakers Running Out of Time for Fixing Social Security
The more they wait, the more significant the changes affecting workers and beneficiaries will be, according to the Social Security Board of Trustees' annual report.
Participants Want Social Security Advice
A Nationwide report found that more participants would switch their financial planner if he didn’t provide education on Social Security benefits.
Many Near-Retirees Don’t Understand Social Security Benefits
More than one-third failed a basic Social Security quiz administered by MassMutual.
The Top Earners Will Pay 11% in Taxes in Retirement
But taxes are negligible for the lowest four quintiles, according to the Center for Retirement Research at Boston College.
What Biden’s Win Means for Retirement Plans
Experts say the president-elect could start the process of shoring up Social Security and embrace ESG investing.
Americans Are Worried About Inflation in Retirement, But Few Are Taking Action to Prepare
Experts say there are things pre-retirees and retirees can do to prepare for a retirement that could last 20 to 30 years.
Trump and Biden Differ on Social Security, 401(k) and Tax Policies
What both candidates have proposed as it relates to the retirement industry.
Never Too Late
Social Security Benefits, Taxable Wages Will Increase in 2021
Social Security recipients will see a 1.3% cost-of-living adjustment, and the maximum amount of earnings subject to the Social Security tax will increase by $5,100.
Workers Need Help on Retirement Income
They expect 44% of their retirement income will come from their 401(k), according to Charles Schwab, and half said they would benefit from financial advice.
Guidance on Payroll Tax Deferral Tells When It Must Be Repaid
Notice 2020-65 from the IRS also defines the ‘applicable wages’ per pay period that qualify for the deferral.
Trump’s Payroll Tax Deferral Raises Concerns on Social Security
The Treasury Department has yet to deliver formal guidance on the deferment.
Unemployed Older Workers at Risk of Involuntary Retirement
Retirement Equity Lab says if these exits continue, they will increase old-age poverty and worsen the recession.