Social Security Remains Strong Overall and Separate From the Budget

Social 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

Need 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

By 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 …

Obama to Nominate Colvin as Commissioner of Social Security Administration

President 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 …

Honey, I Took Social Security Too Early

Deciding when to take Social Security is one of the most important retirement planning decisions people make – and many retirees say they got it wrong. As many as 38 percent of 573 retirees surveyed by the Nationwide Financial Retirement Institute, a unit of Nationwide Mutual Insurance, say they regret taking their benefit early, which locked in their lower monthly payment for life, and wish they had waited. When you look at the differences in their monthly payout, you can understand their remorse. Those …

Not Everyone Is Living Longer

When it is unveiled in the coming weeks, the Social Security Trustees report will no doubt prompt the program’s critics to call for change, as it does each year. And one of their suggestions will likely be to raise the age of eligibility for Social Security and Medicare benefits. It sounds so reasonable. Isn’t everybody living longer? Unfortunately, the answer is no. >> Sign up for the AARP Advocacy Newsletter The truth is that gains in life expectancy are not …