benefits

Lawmakers Urged to Act Soon to Shore Up Social Security

Posted on 07/28/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsThe financial outlook for Social Security remains largely unchanged from last year, with the combined trust funds that pay benefits to retirees and workers with disabilities expected to exhaust reserves in 2033, according to a government report released today. After that date, money coming into the system would be enough to cover 77 percent of benefit obligations, according to the Social Security trustees report. At a news conference on Monday afternoon, Treasury Secretary Jack J. Lew said Social Security and Medicare are …

2014 Medicare Trustees Report Urges Responsible Solutions

Posted on 07/28/2014 by |AARP Executive Vice President | Comments

PoliticsThe Medicare Trustees report today reminds us of the financial challenges facing Medicare, along with the overall high cost of health care. With 64 million Americans expected to be enrolled in Medicare by 2020, we must do more to reduce wasteful spending throughout our health care system. For starters, we can reduce costs and find significant savings in Medicare and throughout the health care system with responsible solutions rather than harmful cuts. By improving care coordination, utilizing technology more efficiently, …

Social Security Remains Strong Overall and Separate From the Budget

Posted on 07/28/2014 by |AARP Executive Vice President | Comments

PoliticsSocial Security remains strong as seen in today’s long-term projected outlook by the Social Security Trustees. While today’s report reminds us that we must eventually make modest changes to ensure current and future generations of Social Security beneficiaries receive what they’ve earned, it confirms that Social Security can continue to pay full benefits for nearly two decades. The Trustees once again report that the combined Old Age, Survivor and Disability Insurance Trust can pay full retirement, survivor and disability benefits for approximately two more decades, and about 75 percent of …

Good News: You Can Still Get Your Benefits Verified at Your Social Security Office

Posted on 07/18/2014 by |AARP Blog Author | Comments

PoliticsNeed to get your Social Security benefits verified? There’s good news: You can still get it done at your Social Security office. Why is that news? Because late last year, the Social Security Administration announced that its field offices would no longer assist people in obtaining verification letters. Instead, it planned to direct anyone requesting a letter to either call an 800 number or go online to find and print the document. AARP, along with other advocacy groups and members …

‘Staggering’ Amounts of Federal Funds Improperly Distributed

Posted on 07/10/2014 by |General News | Comments

Bulletin TodayBy Stephen Ohlemacher, Associated Press WASHINGTON (AP) — Tax credits for families that don’t qualify. Medicare payments for treatments that might not be necessary. Unemployment benefits for people who are secretly working. Federal agencies reported making $100 billion in payments last year to people who may not have been entitled to receive them. Congressional investigators say the figure could be even higher. “The amounts here are absolutely staggering,” said Rep. John Mica, R-Fla. “It’s over $100 billion each of the last …

Will Social Security Soon Get New Commissioner?

Posted on 06/20/2014 by |AARP Blog Author | Comments

Bulletin TodayPresident Barack Obama will nominate Carolyn Watts Colvin as commissioner of the Social Security Administration, the White House announced June 20. Colvin has experience within the retirement and disability benefit program, as acting commissioner since Michael Astrue, who was nominated by President George W. Bush, left the post in February 2013 and before that as deputy commissioner beginning in January 2011. Joyce Rogers, AARP senior vice president of government affairs, says Colvin would have an opportunity “to add an important …