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Social Security
Social Security has been a part of retirement financing for almost 90 years. But how much do its future recipients know about the storied safety net? A recent study examines how deep knowledge of it is.
The Nationwide Retirement Institute, it its 2021 Social Security Survey, found mixed results:...
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In what is described as leaving money on the table, a new survey finds that few near-retired Americans are planning to wait until the age they become eligible to claim maximum Social Security benefits.
According to Schroders’ 2021 U.S. Retirement Survey, just 10% of non-retired Americans ages 45...
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Bipartisan legislation has been introduced in the House and Senate to restore the delivery of annual Social Security projected benefit statements.
Introduced by Senate Finance Committee Chairman Ron Wyden (D-OR), Finance Committee Member Sen. Bill Cassidy (R-LA), House Ways and Means Social...
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Based on the latest Consumer Price Index data, next year’s cost-of-living adjustment could be even higher than what was predicted just a month ago.
The Consumer Price Index for all items increased 5% for the 12-month period ending May, the Bureau of Labor Statistics announced June 10. This marks...
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Last week the Employee Benefit Research Institute (EBRI) and Greenwald Research unveiled the findings of the nation’s longest-running survey of its kind—offering a perspective on the nation’s confidence in attaining a satisfying retirement. But what does that tell us, really?
Well, for starters...
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A bipartisan, bicameral group of U.S. legislators has introduced legislation focused on shoring up Social Security.
The group has introduced legislation (the Time to Rescue United States’ Trusts (TRUST) Act) that would create a process “to rescue the endangered federal trust funds and rein in the...
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Profound and far-reaching changes took place just a little over a year ago. Panelists at an April 19 session of the Plan Sponsor Council of America’s 2021 National Conference took a look at what it all meant—and means—for retirement plans and participants.
The panel included Bradley Bonno,...
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Many proposals have been floated to address the long-term solvency of the Social Security system, among them raising the full retirement age (FRA) so that benefits are claimed later in life. But while that may help the system, Social Security recipients may not consider it as great a boon, says a...
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Retirees face a difficult job figuring out how to draw down their 401(k) and often claim Social Security the earliest they can, but a new white paper suggests that a “Social Security bridge” could be a helpful solution.
In “How Best to Annuitize Defined Contribution Assets?,” Alicia Munnell, Gal...
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Despite one of the most challenging periods in recent memory, a new study finds that DC plans continued to perform their critical role in preparing workers for retirement.
Throughout 2020, the majority of the more than 1.1 million participants in over 1,000 John Hancock open architecture DC...
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A recent paper was titled “COVID 19 Is Not a Retirement Story.” A week later, an article on Forbes.com said: “COVID-19 Is Most Certainly a Retirement Story.” So, which is it?
As it turns out, the former was authored by the folks at the Center for Retirement Research (CRR) at Boston College—who...
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The Congressional Research Service (CRS) has updated information concerning the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), both benefit formulas that reduce Social Security benefits for workers and their eligible family members if the worker receives (or is...
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The IRS on Jan. 19 in Notice 2021-11 has announced additional relief regarding employment tax deadlines applicable to employers affected by the pandemic.
Notice 2021-11 makes changes to Notice 2020-65, which the IRS issued Aug. 28 to provide guidance implementing President Trump’s Aug. 8...
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The challenges facing the Social Security system are well-known and deep-seated. Nonetheless, significant confidence about the future of the system persists among pre-retirees, a new study shows.
Kiplinger and Personal Capital report that they found their 2020 Retirement Survey that nearly two-...
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The chairman of the House Ways & Means Committee has released a new legislative framework for the 117th Congress that includes an ambitious retirement policy agenda.
In what has long been a priority for him, committee chairman Rep. Richard Neal (D-MA) is calling for implementation of auto-...
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Traditional defined benefit plans ended 2020 modestly in the black, after spending most of the year underwater. The story has been a significant decline in interest rates (about 75 basis points) and an increase in liabilities (11%-15%, depending on duration), offset by an increase in asset values—...
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Noting that the U.S. retirement system is not easy to navigate, a recent white paper calls for the creation of a retirement dashboard to help savers better manage and keep track of their savings.
“While it would not address systemic problems such as coverage, a dashboard could reduce the strain...
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Most of the focus on retirement savings is on those who haven’t saved enough, or who lack access to the platforms to make saving enough easy. But even those that have done the “right” things can nonetheless have their retirement planning realities tripped up.
Here are three[1] retirement income...
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U.S. investors plan to retire when they qualify for Social Security but know that it won’t be enough to live on, according to the results of a global study.
The findings for the retirement portion of Schroders’ 2020 Global Investor Study reveal that the majority (51%) of U.S. investors said...
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The Social Security Administration (SSA) has announced that the Office of the Chief Actuary has updated the actuarial valuation of the combined Old Age and Survivors Insurance (OASI) and Disability Insurance (DI) trust funds.
The update accounts for the implications of the pandemic and the...
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