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Otherwise, drastic actions will have to be taken when the Social Security fund reaches its anticipated exhaustion date in 2034, after which continuing tax income will cover just 80% of scheduled ...
Social Security is one of the most hotly debated social programs in America. While all seem to acknowledge that it's a vital necessity, how the program is funded and administered -- as well as its...
The problem, though, is that even without benefit cuts, Social Security will only replace about 40% of the average earner's pre-retirement wages. And most people need a lot more income than that ...
One of the favorite liberal solutions to Social Security’s financial problems is to eliminate the wage cap entirely but give people who earn more than the cap no benefits above the current formula.
The Social Security Administration's press office provided comments after the initial publication of this story, stating that "state and local government employers are required to disclose ...
They say that demographic and revenue projections might turn out to be too pessimistic—and that the current health of the economy exceeds the assumptions used by the Social Security Administration. These Social Security proponents argue that the correct plan is to fix Medicare, which is the largest underfunded entitlement, repeal the 2001 ...
A funding cut would delay people’s access to benefits as well as to non-Social Security Administration services and benefits that depend on the agency’s work, such as the issuing of Social ...
Social Security credits establish only your eligibility for retirement, disability and survivors’ benefits and whether you qualify for Medicare, but they have no role in calculating the amount ...