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The bill rescinds two provisions — the Windfall Elimination Provision and the Government Pension Offset — that limit Social Security benefits for recipients if they get retirement payments ...
But as of Oct. 25, California had only collected $18 billion — a far cry from the $42 billion the state forecast back in June. Understandably, this news might make employees nervous.
The change is to payments from January 2024 and beyond, meaning the Social Security Administration would owe back-dated payments. The measure as passed by Congress says the Social Security commissioner "shall adjust primary insurance amounts to the extent necessary to take into account” changes in the law. It's not immediately clear how this ...
If you're collecting, say, $2,000 per month from Social Security, a 2.5% COLA would give you an extra $50 per month. Even if Medicare premiums only rise by around $10 per month, that's still a ...
Gov. Gavin Newsom asked California lawmakers on Wednesday to dip into the state's rainy-day reserves, and signaled his desire to potentially delay a minimum wage increase for healthcare workers as ...
The bill repeals two provisions — the Windfall Elimination Provision and the Government Pension Offset — that limit Social Security benefits for certain recipients if they receive retirement payments from other sources such as the public retirement program for a state or local government. “Social Security is a bedrock of our middle class.
Over the last three years, Social Security beneficiaries have enjoyed a meaningful boost to their monthly checks, with cost-of-living adjustments of 5.9% (2022), 8.7% (2023), and 3.2% (2024). For ...
Social Security is financed by payroll taxes collected from workers and their employers. The maximum amount of earnings subject to Social Security payroll taxes for 2023 is $160,200, up from ...