Social Security

It sure would be nice if taxability of benefits didn't come into play at such a low threshold!  I'd like to be able to calculate Roth conversions now and RMDs in a few years (added to my taxable interest) to match my itemized or standard deduction for a net income tax of close to ZERO (+/- a few bucks), but the taxability of my indexed benefits makes it nearly a circular calculation and I feel like a dog chasing my own tail to get to a ballpark result.  Doesn't Congress understand that benefits already not indexed to adequately meet the real costs in retirement is already a kick in the shorts without adding insult to injury letting the IRS gobble-up an ever-increasing percentage of them?  What's even stranger is that I never see AARP lobby for that change in the law...or maybe AARP isn't smart enough to see past advocating for their favorite political party!!!

I thought this might be amusing to some here.  Talk about being slow to act -  Talk about Passing the Buck - make sure you include this in any message you might send to the AARP or your legislator on this matter.   We need compromise - IF we don’t compromise on a solution .  . . . . well, I am not sure where that will leave us except to start planning for around a 20% cut isn benefits come about 2033 - 2035.   Do you think they really care about you and me or is it just their own way that they support.  Again talk about SLOW to act on such an important matter - at least important to us - To Them, well not so much. I am posting the ending paragraph of every Social Security Trustee report that I could easily access since 2009 - I have listed the various links to each of these reports in case any of you want to see the analysis of any of the years.   2009 - https://www.ssa.gov/OACT/TR/2009/II_conclu.html#86802 Under current

For those interested - SSA.gov Press Release 04/29/2025 - Social Security Administration Highlights Key Accomplishments in the First 100 Days of New Administration     

Yes, this is still the current interpretation of Social Security as an entitlement of benefits from contributions made over time -SSA.gov Social Security History -Supreme Court Case - Flemming v Nestor 1960 from the link ~There has been a temptation throughout the program's history for some people to suppose that their FICA payroll taxes entitle them to a benefit in a legal, contractual sense. That is to say, if a person makes FICA contributions over a number of years, Congress cannot, according to this reasoning, change the rules in such a way that deprives a contributor of a promised future benefit. Under this reasoning, benefits under Social Security could probably only be increased, never decreased, if the Act could be amended at all.  Congress clearly had no such limitation in mind when crafting the law. Section 1104 of the 1935 Act, entitled "RESERVATION OF POWER," specifically said: "The right to alter, amend, or repeal any provision of this Act is hereby reserved

FROM THE ARTICLE: These Americans Depend on Their Social Security Payments — and Fear Losing Them.Caregiving, health challenges and business woes derailed their retirement plans, depleted their personal savings. By Deirdre van Dyk, AARP. Published April 30, 2025. By the end of 2024, nearly 9 in 10 Americans age 65 or older were collecting Social Security.Those payments account for at least half the income of close to 23 million older adults as of March 2025 — 40 percent of retirees — according to the Social Security Administration (SSA). Retired workers on average receive $1,975 a month, less than $24,000 a year, so personal savings and workplace pensions built up through the years often augment that money.But for an estimated 12 percent of men and 15 percent of women, nearly all the cash they need to keep a roof over their heads comes from Social Security. USE THE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/social-security/americans-depend-on-social-securi

A family of (4) - a stay at home mom. (2) small kids and a dad that makes very good money from securing his degree and he is climbing the ladder.   Own their nice home with a mortgage, two cars, are financially stable with emergency savings, retirement accounts. The mom stays home with the small kids and takes care of the household.  Life is just a bed of roses for them . . . . the American Dream being realized.   Then one day, an uninsured drunk driver hits the mother’s car head on - she lives but is left a quad-plegic  (Tetraplegia).  Life is turned upside down.  Initially, they had to get thru the monmouth health issues.  Health insurance helped, they were able to cover their part of the initial health cost from their emergency savings and what they got from their auto insurance uninsured motorist coverage.   She got home and then the real cost started - the Dad had to hire others to take care of his wife and also cover someone that

FROM THE ARTICLE: Social Security Retreats on Plan to Claw Back 100% of Benefits for Overpayments.SSA will now withhold up to half of benefits from those who owe for past payment errors. By Andy Markowitz, AARP. Published April 30, 2025. Social Security Administration (SSA) is scaling back a policy shift that would have cut off benefits to people whom the agency overpaid in the past until the debt is repaid.In an “emergency message” to employees dated April 25, the SSA set a default withholding rate of 50 percent of benefits to recoup money from beneficiaries who were paid more than they were eligible to receive. USE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/social-security/ssa-overpayment-clawback/

FROM THE ARTICLE: Americans Rely on These Sacred Promises.Social Security and Medicare must be protected. By Dr. Myechia Minter-Jordan, CEO, AARP. Published April 30, 2025. Social Security and Medicare are the most effective and essential anti-poverty programs in American history. Social Security serves as the largest source of retirement income for most of its nearly 69 million beneficiaries, while for more than 68 million people, Medicare is the primary and, for many, only source of health care.In these uncertain times, AARP is redoubling its efforts to preserve and strengthen both program. USE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/politics-society/advocacy/info-2025/americans-rely-social-security-medicare.html

So according to the number thus far in 2025, inflation from regular sources seems under control - but any tariffs applied to foreign good could change that, with the inflationary nature of tariffs. So on one hand, those who are looking forward to a nice COLA increase in 2025 may or may not be disappointed - we have (6) more months of figure collecting by the Board of Labor Statistics to determine what the COLA  will be in 2025. CNBC.com 04/10/2025 - Social Security cost-of-living adjustment projected to be lower in 2026, estimates find. But tariffs may change that  Key Points:[ from link ]Social Security beneficiaries saw a 2.5% cost-of-living adjustment in 2025.The COLA adjustment for 2026 may not be as large, according to estimates based on the latest government inflation data.Those early estimates could change due to potential inflationary pressures from tariffs, experts say. The Social Security cost-of-living adjustment for 2026 is projected to be the

Hello,I applied for SS in April and told them that I would continue in my public non-SS job until next summer 2026.I know that means that while granted SS benefits I won't receive benefits if my salary is too high. But that is okay SS contacted me and told me that they can't suspend benefits for that long and want to force me to sign a (application) withdrawal form. However, all SS documentation, their websites and their brochures state that they can and will suspend benefits even if  you continue to work for year. They also stated that I would have to pay penalties for benefits I would receive. I explained to them that I can't pay penalties on benefit money I won't get because  SS will use their $23,400 annual earning limit and then calculate benefits (based on $1 will be withheld from benefits for each $2 earned over the limit).  Because my income will just above the limit, they will calculate a benefit of $0. What do I do? How can I make them

My wife is the legal representative for her mother who recently passed away. SSA took back her monthly benefit by reversing her direct deposit.  Although she is due the benefit, SSA says we have to fill out Form 1724 to recover the money. My question: Do we need to complete Question 2, which asks for the children of the deceased?  As the legal rep, my wife will settle the estate and distribute the money per her will. Thanks. 

FROM THE ARTICLE: On Social Security’s Front Lines, Customers Seek Service — and Reassurance.At field offices in 3 states, beneficiaries worry that changing rules and staff cuts will make it harder to get answers and solve problems. By Tamara E. Holmes, Sharon Jayson and Martha C. White, AARP. Published April 24, 2025. These are uncertain times at Social Security field offices.In the last two months, the Social Security Administration (SSA) has begun shrinking its staff with a goal of shedding 7,000 jobs, more than 12 percent of its workforce. Nearly 2,000 frontline workers at local offices have left as part of a buyout program. USE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/social-security/social-security-field-office-customers/

 Perhaps you can help a retired lady. I'm 77 and started collecting SS when 62. I still work part time and am self employed. Recently I won a work related lawsuit of $220,000.00. I've been relatively low income the past 15 years. After paying the SS for that year, does my SS go up? Won't it be used as part of my "average" income? Will I receive larger checks from now on?

Should this rule be changed?  One of the new proposals for fixing the Social Security Trust Funds financial problems involves doing away with this provision. What it does in essence if that it STOP people who are filing for early retirement benefit to also file to get benefits for their children and wife, if she is applicable.  These are called auxilliary benefits and are applicable to Social Security Retirement and Social Security Disability benefits. I would continue to support the use of these auxilliary benefits for those who file for Retirement at their FRA and after and also for SSDI but they should be stopped for those filing for EARLY retirement benefits. The proposal is in Section 9 of this analysis from the SS Chief Actuary.SSA.gov- Steny Hoyer, Wendell Primus, 01/03/2025 - Estimates of the Financial Effects on Social Security of potential legislation to improve the solvency of the Social Security Trust Funds 

FROM THE ARTICLE: 5 Ways AARP Is Fighting to Protect Social Security Right Now.We’re mobilizing our members, calling for answers and opposing harmful customer-service cuts. By Emily Paulin, AARP. Published March 26, 2025. The Social Security Administration (SSA) has recently unveiled big changes to how it will operate, announcing a plan to scrap many over-the-phone application services, make cuts to its workforce and close many of its regional offices.AARP is sending a clear message that Social Security must be protected. We’re taking action to ensure that all older Americans can safely access the benefits they have earned and get questions answered in the ways that are best for them. USE THE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/politics-society/advocacy/info-2025/fighting-for-social-security-right-now.html

 I am almost 64 and so is my husband. He started drawing early retirement this past year. I am still working and am planning on waiting as long as possible to draw mine and mine is going to be significantly more than my husband's. I am so confused about a few things. Will him drawing early negatively impact what I will draw once I apply? Second, could he be drawing off mine since it's going to be a lot more than his? Third, someone told me I might be able to be drawing 50% of his now while I'm still working and then switch to mine when I get older. I would call to speak to someone at the SS office but it's about impossible to get through to someone. If anyone could offer any help, that would be great!

 Hi Everyone:  I hope somebody can clarify something I am confused about if you collect Social Security and   choose to work as well (before full retirement age).  I understand in 2025 if under the full retirement age you can earn 23,400 per year.  Does Social Security wait until the end of the year to see if you went over the amount before   reducing  benefits 1.00 for every 2.00 you earn?  I thought I saw something as a test that Social Security uses 1,950.00 as an earning limit per month.   Does that mean if you work 1 month say January 2025 and earn 2000.00 they are assuming you are making over the 23,400 for the year and start withholding money?  What if you earned nothing in January/February but made 2000.00 in March are they still assuming   you are going over (because it is more than 1,950.00)?   If the money is withheld do you get the funds once the year is over a

FROM THE ARTICLE: The truth about its current status and options for boosting its future stability. By John Waggoner and Andy Markowitz, AARP. *** There are 249 Comments on the AARP website. Stop by to add yours. *** Published March 01, 2022.➡️ Updated March 26, 2025. ⬅️ For decades, financial advisers have used the metaphor of a three-legged stool to describe America’s retirement system: Late-life security, the thinking goes, rests on having a healthy pension from work, ample personal savings and a monthly Social Security payment.So much for that. Pensions that guarantee income for life have largely disappeared from private-sector workplaces, and too few Americans have accumulated a nest egg that can provide substantial monthly income throughout their retirement years. According to the Federal Reserve's most recent Survey of Consumer Finances, the median retirement savings for U.S. households ages 55 to 64 is $185,000. USE THE LINK BELOW TO READ THE ARTICLE: h

I am 64 years and have earned only 29 credits towards Social Security because I have spent much of my working life in Canada after marrying a Canadian. In 2024, I began earning US 1099 income (plus Canadian income in 2024) which will likely continue for several years. Would it be a good idea financially for me to make the social security deductions starting in 2024 for both employee and employer in order to reach 40 credits? How should I evaluate this decision? The repeal of the WEP clawback is a benefit to me because I have qualified for the Canadian equivalent of Social Security. Thanks!

I started receiving SS benefits at age 62 because of a job change.  My FRA is 66 1/2.  Over the 4.5 years of benefits, almost half of them (27 months to be exact) were withheld due to the earnings limit.  I am aware that, according to the SSA, I will receive the withheld benefits in the form of increased monthly payments starting at FRA. I am now 67 1/2 and have not received an increase in benefits. Multiple calls to the SSA have resulted in multiple answers as to when I will get the pay bump. The most legit one is that my status is "in process" and I should receive a "lump sum" (for the months since my FRA) plus a monthly increase in benefits going forward starting sometime this fall since they recalculate for this once per year (in July). Has anyone experienced a delay such as this?  I am trying to be patient but all the articles I read say the adjustment will be made "at FRA".  It's now almost a year later. 

We hear you loud and clear. AARP members are deeply concerned about Social Security, and we are steadfast in our commitment to protecting this vital program. Right now, we’re asking for three assurances: ✅ Social Security will make payments on time—just as it has for almost 90 years.✅ Claims will be processed on time and not backlogged for months.✅ Customer service will be a top priority. Forcing millions of Americans to jump through new hoops or drive hours to a local office is unacceptable. We’re fighting to ensure that Social Security remains strong, reliable, and accessible for everyone who relies on it. Learn more about what we’re doing to safeguard Social Security here: How AARP Is Fighting for Social Security Right Now AARP Darryl

I have a feeling I'm going to still be waiting for months for my retirement approval letter, but I'm wondering in the meantime how close people's actual benefits were to the benefit estimate?  Trying to plan ahead...thanks for your time.

Just for information: The Social System is made up of (3) different programs.  Each of these has their own eligibility requirements and other rules to which the beneficiary has to comply to get these specific benefits. 1.  Social Security Old Age or Retirement Benefits - also includes SPOUSAL benefits - sometimes shortened to SSOA or SSR by certain government entities.2.  Survivors Benefits 3.  Social Security Disability Benefits - SSDI There is also another disability program that the Social Security Administration also oversees - The INDIVIDUAL Welfare based Supplemental Security Income program (SSI).  This is a disability program for those who are old (65), blind or disabled who are not eligible for Social Security benefits or who have not worked long enough to get a minimum benefit.  This also includes disabled children.  

The first time I called was at 3:00 PM I was put on hold until I was disconnected at 4:00 PM the closing time.The second time I called the recording says wait time is greater than 120 minutes,then they say hold times are greater than normal,then they tell me to call back at a later time,and then they disconnect the call. This is at 9:00 AM exactly. A year ago I went down to the local office. You take a number and wait about 1.5 hrs in a hard chair.I have a bad back and can’t sit for long periods in a chair. Right now I need my file, how do I obtain this information? Any advice is appreciated.

Just a question to ponder and to get some feedback on specific benefits:This is only for Social Security RETIREMENT benefits - not other type like Disability or Survivors.   Should a person be able to retire early at the age of 62 or before FRA get a bonus auxiliary retirement benefit if and because they have dependent children?