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$500 million for the Social Security Administration to process disability and retirement backlogs; $201 million in additional funding for AmeriCorps and other community service organizations; $150 million for Urban and Rural economic recovery programs; $150 million for an increase of claims processing military staff
The bill could also jeopardize the Social Security fund overall, critics say. Sen. Thom Tillis, R-N.C., said the Social Security trust fund is less than 10 years away from being insolvent, and ...
The average Social Security payment of $1,230/month ($14,760/year) in 2013 [102] is only slightly above the federal poverty level for a one-person household – $11,420/yr and below the poverty guideline of $15,500/yr for two person households. [103]
The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a US$1.9 trillion economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021, to speed up the country's recovery from the economic and health effects of the COVID-19 pandemic and recession. [1]
The benefit increase will begin in January, and it’s roughly equivalent to an extra $48 per Social Security recipient per pay period. This brings the average check sent to Social Security ...
For instance, under the GPO, someone who receives a $900 spousal benefit from Social Security but who also has a $1,000 non-covered pension would see their Social Security benefit cut by $667.
Image source: Getty Images. 1. The 2025 Social Security COLA. Social Security beneficiaries are getting a 2.5% cost-of-living adjustment, or COLA, starting with the payment they receive in January ...
Technically, this takes effect with the December 2024 payment, but since Social Security is paid a month in arrears, it will first be reflected in the payment you receive in January 2025.
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