Social Security recipients could receive a much larger cost-of-living adjustment in 2027 as elevated inflation drives benefit forecasts higher. Independent Social Security analyst Mary Johnson currently projects a 4.7 percent COLA for 2027. If that estimate proves accurate, it would reportedly rank as the fourth-highest adjustment awarded to retirees in 36 years. However, the final … Read more
Millions of Social Security recipients who use Direct Express prepaid debit cards will receive new cards as the federal government moves the program to a new banking partner. The change affects about 3.6 million beneficiaries who receive Social Security, Supplemental Security Income and certain other federal benefit payments through Direct Express cards. People who already … Read more
A Social Security payment change is beginning this month for millions of beneficiaries who receive their monthly benefits through a prepaid debit card instead of direct deposit. Most of the country’s more than 75 million Social Security beneficiaries receive payments directly into a bank or credit union account. However, around 3.6 million people use the … Read more
For decades, many older Americans depended on their monthly Social Security check arriving by mail. But that system is now being phased out as the Social Security Administration moves toward electronic payments. The SSA plans to complete the full transition this year, meaning most beneficiaries will receive payments through direct deposit or a Treasury-approved prepaid … Read more
Social Security is one of the most important income sources for many retired Americans, which makes the decision about when to claim benefits especially important. Workers can begin claiming retirement benefits at age 62, but doing so usually means accepting a permanently reduced monthly payment. Waiting longer can increase the benefit, especially for those who … Read more
The Social Security Administration is preparing to fully transition benefit payments to electronic methods this year. The move follows an executive order signed by President Donald Trump directing the Treasury Department to stop issuing paper checks for federal payments. SSA says electronic payments are safer, faster and cheaper than paper checks. According to the agency, … Read more
The Social Security Administration has denied claims that it planned to falsely classify 2.7 million people as dead. The allegation came from former SSA employee Jeremiah Schofield, whose whistleblower disclosure was highlighted by Democratic Senators Richard Blumenthal and Elizabeth Warren. The senators raised concerns that Social Security data may have been targeted for immigration enforcement … Read more
Social Security is facing a serious funding warning that could affect tens of millions of Americans. A new report from the Committee for a Responsible Federal Budget says the program’s main retirement trust fund could be exhausted in 2032, triggering a possible 24% across-the-board benefit cut if Congress does not act. The projected cut would … Read more
Millions of Americans who rely on Social Security benefits are preparing to receive their latest monthly payments as the Social Security Administration (SSA) continues its June 2026 distribution schedule. The upcoming payment date marks the start of the agency’s regular three-Wednesday payment cycle, which is used to distribute benefits to most recipients based on their … Read more
If you are receiving Social Security retirement benefits while continuing to work, your monthly payments may be reduced depending on your income and age. However, this situation could shift significantly if a new proposal—the Senior Citizens’ Freedom to Work Act—is passed into law. The bipartisan bill, introduced by Rick Scott and Greg Murphy, aims to … Read more