Tag #Social Security

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forbes.com

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Dec 21, 19:08

Spousal Inheritance: Navigating Financial Implications and Estate Planning

The death of a spouse triggers complex financial implications, including asset transfer rules, tax adjustments (like step-up in basis), and Social Security survivor benefits; proactive estate planning and professional guidance are crucial for a smooth transition.

Spousal Inheritance: Navigating Financial Implications and Estate Planning

The death of a spouse triggers complex financial implications, including asset transfer rules, tax adjustments (like step-up in basis), and Social Security survivor benefits; proactive estate planning and professional guidance are crucial for a smooth transition.

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How do different ownership structures and asset types affect the inheritance process and associated tax implications?

Inheritance laws favor spouses, but specifics depend on asset type, existing estate plans, and state laws. For example, a step-up in basis for appreciated assets can significantly lower future tax liabilities, especially in community property states where both halves of the asset qualify. Proper planning is crucial to avoid probate and maximize tax advantages.

cbsnews.com

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Dec 19, 04:09

Senate Approves Social Security Fairness Act, Increasing Benefits for Millions

The Senate voted 73-27 to advance the Social Security Fairness Act, which would repeal policies reducing benefits for nearly 3 million retirees with public pensions, costing an estimated $195 billion over ten years and addressing decades-old inequities.

Senate Approves Social Security Fairness Act, Increasing Benefits for Millions

The Senate voted 73-27 to advance the Social Security Fairness Act, which would repeal policies reducing benefits for nearly 3 million retirees with public pensions, costing an estimated $195 billion over ten years and addressing decades-old inequities.

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What are the main arguments for and against the Social Security Fairness Act, and what are their financial implications?

The act addresses longstanding inequities in Social Security benefits impacting millions of public sector retirees, including teachers, police officers, and postal workers. These inequities stem from WEP and GPO, which reduce benefits for those with both Social Security and public pensions. This bill, if passed, would rectify this, costing an estimated $195 billion over ten years.

cnbc.com

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Dec 19, 22:11

Senate to Vote on Social Security Bill Costing $196 Billion

The Senate is set to vote on the Social Security Fairness Act, which would increase benefits for about 3 million people by repealing the Windfall Elimination Provision and Government Pension Offset, costing $196 billion over 10 years and accelerating the trust fund's insolvency by six months, accord...

Senate to Vote on Social Security Bill Costing $196 Billion

The Senate is set to vote on the Social Security Fairness Act, which would increase benefits for about 3 million people by repealing the Windfall Elimination Provision and Government Pension Offset, costing $196 billion over 10 years and accelerating the trust fund's insolvency by six months, accord...

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What are the long-term implications of this bill for Social Security's solvency and future reform efforts?

The Social Security Fairness Act's passage would mark a significant policy shift, potentially influencing future discussions about Social Security reform. The bill's substantial cost and the expedited insolvency date raise questions about long-term sustainability and may spur debates about alternative solutions to address the financial challenges of the Social Security system. The departure of several key proponents from Congress could impact future legislative efforts.

t24.com.tr

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Dec 19, 10:09

Ankara Mayor Accuses Government of Politically Motivated Debt Seizures

Ankara Mayor Mansur Yavaş accused the government of politically motivated seizures targeting six municipal companies, alleging a smear campaign to distract from the SGK's 900 billion lira in uncollected receivables outside municipalities and the AKP's own larger debts.

Ankara Mayor Accuses Government of Politically Motivated Debt Seizures

Ankara Mayor Mansur Yavaş accused the government of politically motivated seizures targeting six municipal companies, alleging a smear campaign to distract from the SGK's 900 billion lira in uncollected receivables outside municipalities and the AKP's own larger debts.

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What are the long-term implications of this conflict for local governance in Turkey, considering both political and economic factors?

The situation highlights a deeper conflict between the ruling AKP and opposition CHP municipalities. The selective enforcement of debt collection, combined with Yavaş's claim of a political smear campaign, suggests the government is undermining opposition-led municipalities. This has broader implications for local governance and democratic accountability in Turkey.

cbsnews.com

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Dec 17, 01:11

Social Security's Full Retirement Age Rises Again in 2025

The full retirement age for Social Security benefits is increasing to 66 years and 10 months for those born in 1959, starting November 2025, impacting younger Boomers and Gen Xers who already face insufficient retirement savings; the final increase will be to age 67 for those born in 1960 or later.

Social Security's Full Retirement Age Rises Again in 2025

The full retirement age for Social Security benefits is increasing to 66 years and 10 months for those born in 1959, starting November 2025, impacting younger Boomers and Gen Xers who already face insufficient retirement savings; the final increase will be to age 67 for those born in 1960 or later.

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What is the impact of the upcoming Social Security full retirement age increase on American retirees?

The full retirement age (FRA) for Social Security benefits is increasing to 66 years and 10 months for people born in 1959, effective November 2025. This is part of a phased increase implemented since 1983 to adjust for longer lifespans. Claiming benefits at 62 results in roughly 30% less than the full benefit.

cnbc.com

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Dec 15, 19:11

House Passes Social Security Fairness Act; Senate Vote Looms

The House passed the Social Security Fairness Act (327-75), aiming to eliminate rules reducing benefits for 2.8 million public pensioners; the Senate must now pass it before the session ends, facing opposition from experts who argue the bill lacks cost offsets.

House Passes Social Security Fairness Act; Senate Vote Looms

The House passed the Social Security Fairness Act (327-75), aiming to eliminate rules reducing benefits for 2.8 million public pensioners; the Senate must now pass it before the session ends, facing opposition from experts who argue the bill lacks cost offsets.

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What are the immediate impacts of the House's passage of the Social Security Fairness Act, and what is its significance?

The House overwhelmingly passed the Social Security Fairness Act (327-75), aiming to eliminate rules reducing benefits for 2.8 million people with public pensions. Senate Majority Leader Chuck Schumer pledged a Senate vote, but time is running short before the Congressional session ends.

nbcnews.com

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Dec 20, 16:13

Potential US Government Shutdown Before Christmas: Airport Delays Likely

A potential US government shutdown before Christmas could cause significant airport delays due to understaffed TSA, but mail and Social Security payments would continue; the 2019 shutdown cost $3 billion.

Potential US Government Shutdown Before Christmas: Airport Delays Likely

A potential US government shutdown before Christmas could cause significant airport delays due to understaffed TSA, but mail and Social Security payments would continue; the 2019 shutdown cost $3 billion.

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What are the most immediate and significant consequences of a US government shutdown days before Christmas?

A potential US government shutdown before Christmas could cause significant delays for air travelers due to understaffed airport security, while holiday mail and Social Security payments would likely remain unaffected. The 2019 shutdown resulted in a $3 billion economic loss.

forbes.com

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Dec 19, 19:12

Senate to Vote on Social Security Fairness Act: $200 Billion Cost, Increased Insolvency Risk

The Senate is poised to vote on the Social Security Fairness Act, which would eliminate benefit adjustments for certain public sector employees, potentially costing Social Security nearly $200 billion over 10 years and increasing its insolvency risk, based on Congressional Budget Office estimates.

Senate to Vote on Social Security Fairness Act: $200 Billion Cost, Increased Insolvency Risk

The Senate is poised to vote on the Social Security Fairness Act, which would eliminate benefit adjustments for certain public sector employees, potentially costing Social Security nearly $200 billion over 10 years and increasing its insolvency risk, based on Congressional Budget Office estimates.

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What are the immediate financial implications of the Social Security Fairness Act's potential passage, and how would it affect Social Security's solvency?

The Social Security Fairness Act, nearing Senate approval, would eliminate adjustments to Social Security benefits for certain public sector employees with alternative pension plans, potentially costing Social Security nearly $200 billion over 10 years. This repeal of the Government Pension Offset (GPO) and Windfall Elimination Provision (WEP) would restore substantial benefit windfalls for these employees, many of whom did not contribute to Social Security. This could exacerbate the program's financial instability.

nbcnews.com

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Dec 19, 22:11

Government Shutdown Looms: Social Security Benefits Continue, But Other Impacts Looming

A potential federal government shutdown this weekend would affect millions of employees' paychecks and access to government services, while programs like Social Security would continue, though with delays; other programs like SNAP and WIC could face disruptions if the shutdown is prolonged and air t...

Government Shutdown Looms: Social Security Benefits Continue, But Other Impacts Looming

A potential federal government shutdown this weekend would affect millions of employees' paychecks and access to government services, while programs like Social Security would continue, though with delays; other programs like SNAP and WIC could face disruptions if the shutdown is prolonged and air t...

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What are the immediate consequences of a federal government shutdown, focusing on the impact on government employees and essential social programs?

A government shutdown would halt work at numerous federal agencies, impacting millions of employees' paychecks. However, Social Security benefits, considered a mandatory program, would continue. Millions rely on these benefits, but expect significant delays in contacting the Social Security Administration for assistance.

cnbc.com

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Dec 18, 19:12

Senate to Vote on Social Security Fairness Act, Repealing WEP and GPO

The Senate is poised to vote on the Social Security Fairness Act, which would repeal the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), impacting 2.01 million and 735,000 beneficiaries respectively, potentially costing $196 billion over 10 years and accelerating trust fund...

Senate to Vote on Social Security Fairness Act, Repealing WEP and GPO

The Senate is poised to vote on the Social Security Fairness Act, which would repeal the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), impacting 2.01 million and 735,000 beneficiaries respectively, potentially costing $196 billion over 10 years and accelerating trust fund...

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What are the potential long-term financial implications of repealing the WEP and GPO, and how might this affect future Social Security reform efforts?

The bill's passage would alter Social Security's progressive benefit structure, benefiting higher earners at the expense of lower earners. The WEP and GPO were designed to prevent double-dipping; their removal will accelerate the depletion of Social Security's trust fund by six months, costing an estimated $196 billion over 10 years. This directly contradicts efforts to maintain the long-term solvency of the system.

elpais.com

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Dec 15, 10:07

Chilean Pension Reform Deadlocked Over Funding and AFP Restructuring

Chilean senators are debating pension reforms, including the distribution of a 6% additional employer contribution, restructuring of the AFP system, and a bidding process for affiliated members; disagreements over these issues threaten to delay the reforms' passage.

Chilean Pension Reform Deadlocked Over Funding and AFP Restructuring

Chilean senators are debating pension reforms, including the distribution of a 6% additional employer contribution, restructuring of the AFP system, and a bidding process for affiliated members; disagreements over these issues threaten to delay the reforms' passage.

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What are the key sticking points hindering the Chilean pension reform's finalization in the Senate, and what are their immediate implications for retirees?

Chile's pension reform negotiations are in their final stages in the Senate, but the government and opposition haven't reached an agreement. Seven points have been approved, more progress than in previous attempts, yet crucial decisions remain. The main sticking points include the distribution of a 6% additional contribution, separation of the AFP industry's functions, and the bidding process for affiliated members.

forbes.com

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Dec 13, 20:05

Ticket to Work Program Supports Return to Employment for SSDI Beneficiaries

The Social Security Administration's Ticket to Work (TTW) program helps individuals receiving SSDI benefits return to work by providing support services, financial incentives like a Trial Work Period and Extended Period of Eligibility, and vocational counseling to assess readiness and explore job op...

Ticket to Work Program Supports Return to Employment for SSDI Beneficiaries

The Social Security Administration's Ticket to Work (TTW) program helps individuals receiving SSDI benefits return to work by providing support services, financial incentives like a Trial Work Period and Extended Period of Eligibility, and vocational counseling to assess readiness and explore job op...

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What support do the SSDI and TTW programs offer to individuals seeking to return to work after a period of disability?

The Social Security Disability Insurance (SSDI) and Ticket to Work (TTW) programs help individuals return to work after illness or disability. These programs offer support and resources tailored to individual needs, such as vocational counseling and benefits guidance.

Showing 373 to 384 of 421 results