Social Security

The two separate trust funds authorized under Title II of the Social Security Act, the Federal Old-Age and Survivors Insurance (OASI) Trust Fund and the Federal Disability Insurance (DI) Trust Fund, will be solvent through 2034 and 2052, says a report by the Congressional Research Service (CRS).... READ MORE

Not so much, according to a recent analysis that disputes that finding and points out that there are a wealth of studies and statistics whose conclusion is quite different and not as dire. In “Factcheck: Do 40% Of Retirees Rely on Social Security For Their Entire Income?” an analysis appearing in... READ MORE

Decumulation — actually tapping into funds set aside for retirement — garners less attention than accumulation. But a recent article takes a look at that lesser-explored aspect of retirement funding and argues for a strategic approach. In “Bridging the Retirement Gap: Crack the Nest Egg Before... READ MORE

The IRS has issued tables of covered compensation under Internal Revenue Code Section 401(l)(5)(E) and the Income Tax Regulations thereunder for the 2020 plan year. The tables are contained in Revenue Ruling (Rev. Rul.) 2020-02. The covered compensation tables for 2020 provide: Data based on... READ MORE

A bill that seeks to reform Social Security has been introduced in the House of Representatives. H.R. 5392, the Social Security Enhancement and Protection Act of 2019, was introduced on Dec. 11, 2019 by Rep. Gwen Moore (D-WI). The text of the legislation is not yet available on the Congress.gov... READ MORE

Much has been made of an alleged retirement savings crisis confronting the country, with near-daily gloom-and-doom reports. But a recent study says, “not so fast.”  In "The Over-Stated Retirement Crisis," the Empower Institute challenges the view that the 40-year-old DC system is overly deficient... READ MORE

The Congressional Research Service (CRS) has updated “Social Security: The Windfall Elimination Provision,” its publication that discusses what the WEP is, how it works and recent developments affecting it. The WEP is a modified benefit formula that reduces the Social Security benefits of certain... READ MORE

Retirement planning can be a complicated process – and surveys suggest that most workers haven’t even attempted a guess. But even those who have can overlook some pretty significant factors that can have a dramatic impact on retirement readiness. Here are some critical factors that are easy to get... READ MORE

Under a new proposal put forward by an influential Democratic member of Congress, retirement assets could be factored into a new tax regime targeting higher-income taxpayers. Labeling it as a proposal to help pay for a Social Security overhaul, Sen. Ron Wyden (D-OR), the ranking member on the... READ MORE