social security

WASHINGTON (AP) — The financial condition of the government’s bedrock retirement programs for middle- and working-class Americans remains shaky, with Medicare pointed toward insolvency by 2026, according to a report Monday by the government’s overseers of Medicare and Social Security. It paints a sobering picture of the programs, though it’s relatively unchanged from last year’s […]

WASHINGTON (AP) — The IRS suspended a $7.25 million contract with the credit reporting company Equifax Friday after members of Congress complained the tax agency had awarded a no-bid contract to a company that recently had a massive data breach. The IRS had contracted with Equifax to validate the identity of taxpayers communicating with the […]

The Social Security Administration announced the cost-of-living increase Friday. The COLA affects benefits for more than 70 million U.S. residents, including Social Security recipients, disabled veterans, and federal retirees. That’s about one in five Americans. By law, the COLA is based on a broad measure of consumer prices generated by the Bureau of Labor Statistics. […]

  Tom: This morning we have another topic that listeners had a number of questions about: Social security. Are you ready to help us out? Mellody: I most certainly am! First, let’s start with the basics. Is everyone eligible? Actually, not everyone is automatically eligible, but it is not very difficult. In order to qualify for benefits, […]

  Tom: Good morning, Mellody! Mellody: Good morning, Tom! Tom: This morning for Money Monday you are going to give us a heads up on some changes that were caused by the recent budget deal which Congress passed and the President signed last month. Mellody: I am, Tom. While the country happily avoided brinksmanship and another government […]

Tom: We have social security on tap for our listeners today, correct? Mellody: We certainly do. As most people know, social security is the primary program that ensures that retirees, those with disabilities, and other individuals who are in need have a safety net. This month, the program marked its 80th year of operations, having […]

WASHINGTON (AP) — People with old Social Security debts are getting a reprieve — for now. The Social Security Administration had been participating in a program in which thousands of people were having their tax refunds seized to recoup overpayments that happened more than a decade ago. On Monday, Acting Social Security Commissioner Carolyn W. […]

Did you know that McDonald’s and WalMart have the highest employment rate of elderly people? I know you’ve seen them: greeting at the door, checking…

Today Mellody Hobson talks about the right time to claim social security. You can start collecting Social Security anytime from age 62 to 70, but the later you start, the bigger your benefit. Just how much bigger depends on when you were born. People born from 1943 to 1954 have a “normal” or “full” retirement […]

Have you ever read your Social Security statement?  Most of my clients say, “No”.  Many people simply get it in the mail and stash it in the pile of papers for shredding at best or toss it in the trash as soon as it arrives.  But the reality is, you need to know what it tells […]

Mellody Hobson talks about the news that the government is making the switch to electronic payments for Social Security and disability checks. The government is requiring all beneficiaries of federal benefit payments to go electronic by March 1, 2013. That means you have just 4 days left to make sure you’ve made the switch. Why […]

Between 1946 and 1964, there were 76 million children born, which was an average of more than 4 millionaire births per year.  That growth surge…