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Social Security benefits received a 2.5% cost-of-living adjustment (COLA) in 2025, but for many retirees, this is not enough to keep up with rising prices. Their monthly checks don't go as far as ...
Social Security has two other funding sources: benefit taxes on some seniors and interest income earned on money in the program's trust funds. But both of those are in danger right now. The ...
Social Security can’t completely go bankrupt because it gets funded by payroll taxes. So unless lawmakers decide that workers no longer have to pay into Social Security, the program can collect ...
However, with the program's current financial challenges, the Social Security Administration may be hesitant to increase payments if it means depleting its trust funds even more quickly. Until ...
Right now, that fate remains uncertain because of the upcoming depletion of Social Security’s Old Age and Survivors Insurance (OASI) Trust Fund. The OASI fund is expected to run out of money in ...
Millions of Americans rely on Social Security, but many are also concerned about its dependability going forward. 60% of current retirees say their benefits are a major source of income, according ...
Some lawmakers — mainly Democrats — have proposed raising the Social Security payroll tax rate from its current 12.4% to 15.6% or more following the trust fund depletion, and then gradually ...
Social Security benefits will get a cost-of-living adjustment to account for inflation in 2025 Nationwide Retirement Institute reports that 66% of surveyed adults incorrectly agreed with this ...