With unemployment still 5.4%, and less payroll tax revenue to finance the benefits of swelling Social Security rolls, how is the program’s financing faring during our 2021 economic recovery? The Social Security Trustees ...
How Would President Biden Reform Social Security?
As the coronavirus health crisis, and high unemployment drag on, Social Security’s financial situation is becoming increasingly urgent. According to the Social Security Trustees, Social Security’s annual revenues are exp ...
How Does the High Unemployment Affect Social Security’s Solvency?
Social Security’s finances depend largely on payroll taxes, tying the strength of Social Security to the strength of the U.S. economy. The U.S. unemployment rate was more than 13.3% through May. That was worse than the ...
What Are Your Fastest Rising Costs?
Mary Johnson, editor Every year, I take a look at how the Social Security cost of living adjustment (COLA) compares with the rise in average retiree costs. Data that I collect for my report on the buying power of Soc ...
How the Corona Virus Affects Social Security
The abrupt and severe contraction in the U.S. economy caused by the coronavirus has far-reaching consequences for Social Security. Twenty million workers filed claims for unemployment between March 15, 2020 and April 17 ...
Benefit Bulletin: April/May 2020
What’s Retirees’ Biggest Concern About the Future of Social Security? A $300 Benefit Cut By Rick Delaney, Chairman of the Board There’s a discussion about Social Security that we haven’t yet heard much about f ...
What It Looks Like to Live on Just Social Security — (It’s Not Pretty)
Forty-three percent of respondents say they do not have any retirement savings according to a recent TSCL survey. This sobering finding is actually a slight improvement from a 2017 estimate by the U.S. Government Accoun ...
Benefit Bulletin: February 2020
TSCL Endorses Legislation That Would Help the Public Understand Social Security Benefits By Rick Delaney, Chairman of the Board People close to retirement sometimes tell us they don’t have a clue about how much the ...
How A Tax on “Wealthy” Retirees Ended Up A Tax On The Middle Class
Mary Johnson, editor Roughly one-half of all retiree households report that a portion of their Social Security benefits is subject to taxation, according to TSCL’s Senior Surveys. That’s substantially more than expec ...
Benefit Bulletin: November 2019
Rick Delaney, Chairman of the Board Social Security Legislation Would Provide 75 Years of Solvency For Social Security If lawmakers wait too long, solutions for fixing Social Security’s financing could in ...
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