Stay current on important Social Security topics. Here you will find our latest articles and analysis on SSA news, filing strategies, and policy issues, because the more information you have, the better decisions you can make.
Be sure to check back often for further updates.
Do you need representation for SSA claims?
SSA streamlined the retirement application for online filing and while the questions posed seem very straight forward, how they are answered can make the difference on how much return you get on your SSA account. SSA employees will not provide you with any advice on what your most advantageous month of entitlement or how your retirement severance package or date you pick for your retirement retire can impact your total benefits received for the year. These are just a couple examples of what can impact your total benefits. The employees are there to safe gua...
Read moreHow marriage affects your SSA entitlement
You may be familiar with SSA spousal eligibility. If you’re currently married with at least one year duration of marriage or the biological parent of their child, you are eligible as a spouse on their SSA record if your primary rate (rate payable at full retirement age) is less than half of your spouse’s primary rate. So what happens in the event of a divorce? You are still eligible on your spouse’s earnings record if the duration of your marriage was over 10 years AND the divorce is final for at least 2 years. SSA is not restricted in entitling a divorce spouse based on any state divorce d...
Read moreSpousal Filing Options
“When should I start my benefit?” This was one of the most common questions I received in my career. My answer has always been the same, “tell me when your going to die and I’ll tell you when to file” – with the exception of spousal entitlement. It is common for high-end wage earners to postpone entitlement to receive a higher monthly benefit while drawing income from a separate source to increase their SSA entitlement. The longer you wait the higher your benefit will be as well as any widow(er) subsequently entitled on your earnings record. The spouse of the wage earner deciding to postpone...
Read moreSSA 2023 Projections
Social Security beneficiaries will likely see a big increase in monthly benefits starting in January 2023. With inflation at a 40 year high, The Senior Citizens League estimated the Cost Of Living Adjustment (COLA) for next year could be 8.7 percent. Based on the most recent report on the Consumer Price Index by the US Bureau of Labor and Statistics, some estimates reflect a double digit COLA of over 10 percent. If that happens, it will be the first double digit COLA since 1982. In addition to the anticipated large COLA, Medicare Part B premiums are projected to decrease $5.20 in 2023. W...
Read moreSSA Solvency
The COVID-19 Pandemic, 2020 Recession, inflation, fluctuations in entitlements, birth rate, and immigration data have affected SSA solvency. If you have read the headlines, most state SSA extends benefit solvency by a year. This is only a small portion of the complete picture. Current analysis does project the Old-Age and Survivors Insurance (OASI) Trust Fund to indeed pay full benefits for an additional year, updating to 2034. After 2034 the OASI Trust Fund will only be able to sustain 77 percent of scheduled benefits. The other Trust Funds: The Disability Insurance (DI) Trust fund will on...
Read moreSocial Security Entitlements
Did you know that only 80% of Americans know about SSA disability benefits? That only 21% understand how benefits are calculated? Only 63% are aware that a widow(er) need not be caring for children to qualify for survivor benefits? It’s important to educate yourself and your family of potential benefits. For Survivor benefits you may be eligible to receive monthly benefits, including: - A widow or widower age 60 or older (age 50 if disabled) - A widow or widower of any age caring for the deceased’s child who is under age 16 or disabled - An unmarried child of the deceased who is ei...
Read moreWhat’s new for SSA this new year?
Well, it's that time of year again when you'll want to check out the new 2022 SSA limits. Of note, the annual maximum taxable earnings is now 147,000. Once your earnings hit that threshold no more SSA taxes are taken from your pay. See all of 2022 details by opening the link below: https://www.ssa.gov/news/press/factsheets/colafacts2022.pdf Also beginning in January, SSA offices are working on fully reopening to the public. Hopefully, you will be able to visit your local office without a scheduled appointment soon. The...
Read moreFiling Strategies
Filing and suspending benefits to accrue delayed retirement credits (DRC) no longer applies after April 30, 2016 due to the Bipartisan Budget Act (BBA) of 2015. You may still suspend your own retirement entitlement for the DRC's, you just can no longer receive any other benefits while yours is in suspense. The new rules are: * an individual may not receive benefits for the period of voluntary suspension; * no auxiliary benefits (except divorced spouse's benefits) may be paid on the record of a person who requests voluntary suspension for the period of voluntary suspension; * an individual...
Read moreSocial Security Online
You may be familiar with SSA.Gov and have your MySSA Account established. Did you know SSA also is on Facebook, Instagram, Twitter, and Youtube? They have even established a Blog where you can post your questions. With all the available technology, is your personal information more at risk? Reality is that fraud and abuse happen every day. Here's some tips to follow: ...
Read moreSSA’s Current Service
SSA Customer Service under COVID is even worse than usual. They currently have all offices closed for in-office service. You are only afforded teleservice and video chat. You can call the 800 number to wait for an hour or so only to be disconnected. If you do get a person to talk with, it's likely they lack the training and experience to answer your question completely. This has resulted in a drop of applications and the public not receiving all the benefits they are eligible for. You need to be your own best advocate. Having the financial guidance that Mike provides along with an SSA exper...
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