New Social Security Plan Could Cap Six-Figure Benefits For Wealthy Couples

New Social Security Plan Could Cap Six-Figure Benefits For Wealthy Couples

A new Social Security proposal would limit annual benefits for some high-income retired couples as lawmakers and policy experts look for ways to strengthen the program’s finances. Under the plan, couples receiving more than $100,000 a year in combined Social Security benefits would see their payments capped. Supporters say the change could save billions of dollars while … Read more

New Proposal Could Cap Some Social Security Yearly Benefits

New Proposal Could Cap Some Social Security Yearly Benefits

A new Social Security proposal is gaining attention because it would limit yearly benefits for some high-earning retirees. The plan is designed to help address Social Security’s long-term funding problem while protecting most lower and middle-income beneficiaries. The proposal comes from the Committee for a Responsible Federal Budget, a Washington, D.C. think tank. Its plan, … Read more