As a rare winter storm sweeps across the United States, many Social Security offices have temporarily closed their doors. Newsweek has rounded up a state-by-state list of Social Security Administration (SSA) office closures for Wednesday,
President Donald Trump's mass deportation plans could have a significant economic side effect: draining Social Security funding.
The cost-of-living adjustment (COLA) applied to Social Security payments in any given year is based on CPI-W inflation from the third quarter of the previous year. In that sense, COLAs are a reimbursement mechanism to compensate retirees for the buying power benefits lost in the previous year.
The Supplemental Security Income program gives payments to those living with debilitating disabilities which may affect their income.
Retirees who stop working at the Full Retirement Age, currently set at 67, can receive a maximum benefit of $4,018 per month. If benefits are claimed at the earliest possible age of 62, that maximum payment drops to $2,831.
Checks are issued throughout the month, based on the recipient's birth date or the duration of time they have been receiving benefits.
Just after midnight on the very last day of the 2024 Senate session, the Social Security Fairness Act was passed.
Former Louisiana Congressman Garret Graves' Social Security Fairness Act repeals WEP and GPO penalties for millions of government retirees.
President Joe Biden recently signed the Social Security Fairness Act, which eliminated the Government Pension Offset and Windfall Elimination Provision rules. Biden touted the bill as a way
The Senior Citizens League (TSCL), a nonpartisan senior group, recently released their monthly COLA estimate, predicting that it would moderate to 2.1% in 2026.
Deciding when to claim Social Security benefits is one of the most critical financial decisions retirees face.