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The United States Social Security Administration (SSA) [2] is an independent agency of the U.S. federal government that administers Social Security, a social insurance program consisting of retirement, disability and survivor benefits.
The main difference between state and local government sponsored retirement systems and Social Security is that the state and local retirement systems use compounded investments that are usually heavily weighted in stock market securities, which historically have returned more than 7.0%/year on average despite some years with losses. [100]
The average monthly Social Security benefit will increase from $1,927 to $1,976 in 2025 after the cost-of-living adjustment this year, according to the Social Security Administration.
Image source: Getty Images. 1. Social Security benefits are rising by 2.5%. Each year, Social Security benefits are eligible for an automatic cost-of-living adjustment, or COLA.
The Social Security Act's similarity with the Railroad Retirement Act caused Edwin Witte, the executive director of the President's Committee on Economic Security under Roosevelt who was credited as "the father of social security," [26] to question whether or not the bill would pass; [27] John Gall, an Associate Counsel for the National ...
The US Senate passed a bipartisan bill early Saturday to increase Social Security benefits for close to 3 million federal, state and local public sector workers, which includes firemen, policemen ...
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