2016 Social Security COLA? Don’t Bet on It

Nearly 60 million Social Security recipients will probably not get a cost-of-living increase next year, according to projections in the 2015 Social Security and Medicare trustees reports. This would be the third time Social Security beneficiaries have gone without a cost-of-living adjustment (COLA) since 1975, when automatic raises were put into place. The COLA this year was 1.7 percent, making the average monthly check for retired workers $1,334 as of May. Increases in benefits are tied to the third-quarter average …

Social Security Outlook Improves, but Disability Needs Urgent Action

The financial health of Social Security has improved slightly in the past year, with the system expected to exhaust its reserves to pay benefits in 2034, a year later than previously projected, according to the 2015 Social Security Trustees Report, released July 22. At that time, if Congress has taken no action, Social Security will have enough payroll taxes coming in to cover 79 percent of promised benefits for another 56 years, the report said. The annual report forecasts the …

White House Conference Turns Spotlight on Aging Issues

President Barack Obama and a host of experts and advocates for older Americans gathered at the White House July 13 to discuss a variety of issues about aging in America. Government programs such as Medicare, Medicaid and Social Security are great triumphs, Obama told nearly 200 attendees at the White House Conference on Aging, which since 1961 has been held about once a decade to help chart the course of policies on aging. More than 600 “watch parties” were held …

AARP Praises House Ways and Means Committee Effort to Find Bipartisan Solutions on Social Security

On July 9, House Ways and Means Committee Chairman Paul Ryan (R-WI), in his opening statement in the House Ways and Means Committee, said, “Subcommittee Chairman Sam Johnson has been working on solutions all year.” And a few months back, he laid out four principles for reforming disability insurance (DI) — all of which I fully endorse: “First, no 20 percent cut. Full stop. Not gonna happen. Second, make sure all benefits are paid on time. Third, make the program …

2015 White House Conference on Aging: Lives With Independence, Dignity and Purpose

AARP is pleased to support the 2015 White House Conference on Aging (WHCoA) on July 13. Beginning with the first conference in 1961 and for each one since, AARP has offered strong support because the sessions not only shine a spotlight on issues related to aging in America but also lead to practical solutions that make life better for people as they age. Watch a live stream of the event here » The conferences have introduced innovative ideas such as …

Most Adults Flunk Social Security Quiz

Most adults likely have heard of Social Security — or seen the taxes for it taken out of their paychecks. But when quizzed on some of the basics of the program, only 28 percent got a passing grade. That’s the finding of a survey by MassMutual, which polled more than 1,500 adults on Social Security rules, including the full retirement age, benefits for ex-spouses and whether benefits can be reduced for government workers. Granted, Social Security can be complicated, particularly …