Biggest Social Security Changes for 2025 - AARP
Dec 4, 2024 · The COLA is applied to all Social Security payments — survivor benefits, family benefits and disability benefits, as well as retirement benefits — and to Supplemental Security Income (SSI), a monthly benefit administered by the SSA for people with low incomes and limited assets who are 65 or older, blind or have a disability.
Social Security When A Spouse Dies - A Guide To Survivor Benefits …
Sep 12, 2024 · 5 Social Security Decisions That Can Be Costly. Social Security can make up a big portion of your retirement income. Maximizing your benefits starts with making the best choices for you, based on your age, marital status, work plans and more. Watch this free AARP webinar for expert guidance on avoiding Social Security pitfalls that could cost ...
Can you switch from Social Security retirement benefits to ... - AARP
Nov 16, 2018 · But suppose you started Social Security at 62, for reasons unrelated to health, taking a reduction in benefits for filing before full retirement age (which is 66 and 8 months for people born in 1958, two months later for those born in 1959, and 67 for those born in 1960 or later). Six months later, you are diagnosed with kidney disease.
Social Security Calculator: Estimate Your Benefits - AARP
Dec 16, 2022 · The Social Security Administration (SSA) includes your 35 highest-earning years, adjusted for historical wage growth, in its benefit calculation. You can review your earnings history by creating an online My Social Security account .
7 Things You Should Know About Taxes on Social Security - AARP
4 days ago · In 2023, income taxes on benefits added $50.7 billion to the Social Security trust funds, accounting for about 3.8 percent of Social Security’s revenue — the vast majority of which comes from payroll taxes levied separately on most U.S. workers’ earnings.
Can I Switch From My Social Security Benefit to a Spousal Benefit?
Oct 10, 2018 · Again, Social Security will pay the greater of the two benefit amounts. Members only The top spousal benefit is 50 percent of your mate’s primary insurance amount — the retirement benefit they are entitled to claim at full retirement age , which is 66 and 8 months for people born in 1958, 66 and 10 months for those born in 1959 and 67 for ...
How 5 Big Social Security Changes in 2024 Affect You - AARP
Dec 5, 2023 · The cost-of-living adjustment (COLA) gets the headlines, but multiple aspects of Social Security change annually to reflect national trends in prices and wages, affecting the benefits paid to tens of millions of Americans and the taxes paid by nearly all U.S. workers. Here are five important ways Social Security will be different in 2024.
5 Social Security Claiming Options for Married Couples
May 1, 2024 · Social Security used to allow someone who was entitled to both a retirement benefit and a spousal benefit — an auxiliary benefit one partner can receive based on the other’s earnings record — to choose one or the other if they had reached full retirement age (FRA). That way, you could draw a spousal benefit first, then shift to your ...
7 Things to Know About Work and Getting Social Security - AARP
Oct 25, 2023 · Social Security maintains a “retirement earnings test” for people who claim benefits before reaching full retirement age (FRA), currently between 66 and 67 depending on your year of birth. If your work income exceeds a certain threshold, the Social Security Administration (SSA) temporarily withholds a portion of your monthly payment.
Biggest Scams to Watch for in 2025 - AARP
Dec 16, 2024 · In some cases, the goal is simply to gain your personal information. You’re told you got the job, so you fill out paperwork that includes your Social Security number and your bank account info for direct deposit, notes Melanie McGovern, director of public relations and social media for the International Association of Better Business Bureaus, Inc.