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 …

Miss Those Paper Social Security Statements? They’re Back

For those of you who liked getting your estimated Social Security benefits statements by mail, you’re in luck. The Social Security Administration says it’s planning to send out paper statements once again, beginning in September. Not everyone will get one, however. Only workers who haven’t signed up to review their statements online will be getting the paper version - and those will be mailed out only every five years rather than annually, says SSA spokeswoman Dorothy Clark. Related: When Should You …

A Look at Social Security’s History – Celebrating Social Security’s 78th Anniversary!

Last week marked the 78th anniversary of the passing of the Social Security Act. To commemorate, this blog post looks back to see how Social Security has changed over the years. Below, you will find a timeline highlighting famous firsts, important legislation and the growth of one of America’s most popular programs. 1935: On Aug. 14, the Social Security Act (H.R. 7260, Public Law No. 271, 74th Congress) became law with President Franklin D. Roosevelt’s signature at approximately 3:30 p.m. …

Surprising Facts About a Survivor – Social Security

Happy 78th birthday, Social Security. Since FDR signed you into law on Aug. 14, 1935, you’ve survived wars, budget cuts and changing demographics. Today you may be older than most of your beneficiaries, but you’re still central to secure retirement. Related: How Has Social Security Changed Lives? In Millions of Ways Here are some surprising facts about the program: The number of people who received Social security benefits last year – 61.9 million – is nearly half of what the U.S. …