Social Security retirees could face a 22% benefit cut if Congress does not act before the program’s retirement trust fund runs short of reserves, according to new government projections. The latest Social Security and Medicare Trustees Report estimates that the Old-Age and Survivors Insurance trust fund could exhaust its reserves in late 2032. That is … Read more
Millions of Americans are paying close attention after the latest Social Security trustees report warned that the trust fund supporting retiree and survivor benefits may run short earlier than expected. According to the report, the Old-Age and Survivors Insurance trust fund, known as OASI, could begin depleting by the fourth quarter of 2032 if Congress … Read more
Social Security recipients could see a bigger monthly benefit increase in 2027 if inflation remains elevated through the rest of the year. A new forecast from The Senior Citizens League estimates that the 2027 Social Security cost-of-living adjustment could reach 3.8%. If that prediction becomes reality, it would be higher than the current year’s 2.8% … Read more
A Social Security field office in Decorah, Iowa, has reopened after being closed for months because of staffing shortages. The reopening brings relief to local residents, especially seniors and people with disabilities who depend on in-person Social Security support. The office had been closed for around six months after the last staff member retired. Its … Read more
Social Security recipients and future retirees may need to start preparing for a possible financial shock. A recent projection shows that the retirement trust fund could become depleted in 2032, which may leave the program able to pay only about 78% of scheduled benefits if Congress does not act. That could mean a possible 22% … Read more
The first round of June Social Security payments is scheduled to be sent this week, following the regular payment calendar used by the Social Security Administration. Millions of Americans rely on these monthly benefits, especially retirees, older adults and people who qualify for Social Security support. For June, the next scheduled payment date is Wednesday, … Read more
Millions of Americans are set to receive their June Social Security payments this week as the Social Security Administration continues its regular monthly benefit schedule. The next round of payments is expected on Wednesday, June 10, 2026. This payment will go to beneficiaries whose birthdays fall between the 1st and 10th of any month. The … Read more
Social Security beneficiaries in Florida could face a major financial shock if the program’s retirement trust fund is depleted by 2032. A new analysis warns that monthly benefits could fall by about $500 for many recipients if Congress does not act in time to strengthen the program. Florida would be one of the hardest-hit states … Read more
Millions of Americans planning for retirement need to pay close attention to one important Social Security rule: full retirement age. While benefits can still begin as early as age 62, claiming early can permanently reduce monthly payments. The change matters because Social Security is a major source of income for many retirees. Understanding the difference … Read more
Retirees may have an extra reason to look forward to October this year. While many people associate fall with cooler weather and seasonal changes, seniors across the United States will be watching for something more important: the Social Security cost-of-living adjustment for 2027. The annual COLA announcement will determine how much Social Security payments increase … Read more