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 …

Social Security Expands Office Hours

Beginning March 16, Social Security field offices across the country will be open an extra hour on Mondays, Tuesdays, Thursdays and Fridays. Hours will be 9 a.m. to 4 p.m. This change is thanks in part to the agency’s new budget, which gave it the resources for the longer office hours. Previously, hours were reduced because of congressional budget cuts, along with a reduction in staff, amid a growing workload, the agency says. >> Sign up for the AARP Money newsletter Social Security offices …

7 Social Security Quirks You Should Know

Note: Join AARP expert Jean Setzfand today, Friday, October 24, from 2 to 3 p.m. ET for a live Facebook Chat with Yahoo! Finance about Social Security claiming and ask Jean or another expert your own question here: https://www.facebook.com/yahoofinance. See Setzfand’s advice in a story from Yahoo! Finance just posted today as well: http://finance.yahoo.com/news/3-ways-to-boost-your-social-security-benefit-163853751.html. As I travel and talk with folks about planning for their future, “when to claim Social Security benefits” is, hands down, the most frequently asked question …

Social Security Benefits to Rise 1.7% Next Year

Social Security benefits will rise by 1.7 percent starting in January, the Social Security Administration announced Wednesday. That’s a tad higher than this year’s 1.5 percent increase. It’s also the fourth straight year that the cost-of-living adjustment was below 2 percent for nearly 59 million retirees, disabled workers and their families. The adjustment amounts to about $22 a month for those who receive the average monthly benefit of $1,302. >> See AARP CEO Jo Ann Jenkins’ statement on the COLA “The …

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 …