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☆ Werner Spitz, Forensic Expert in High-Profile Murders, Dies at 97
▼ + stars: | 2024-04-30 | by ( Trip Gabriel | ) www.nytimes.com time to read: +1 min

Dr. Werner Spitz, a pathologist whose accounts of the traumatic last moments in some of the most sensational American deaths of the past 60 years figured in cases involving President John F. Kennedy, Martin Luther King Jr., O.J. Simpson, JonBenet Ramsey, Mary Jo Kopechne and many others, died on April 14 in St. Clair Shores, Mich., a suburb of Detroit. He died in hospice care after a brief illness, his son Dr. Daniel Spitz said. Dr. Spitz’s career of more than 60 years traced to the early days of modern forensic pathology, and his textbook on the topic remains a gold standard in the field. Examining the remains of homicide victims was the one thing that did not bore him, he said.

Persons: Werner Spitz, John F, Kennedy, Martin Luther King Jr, O.J, Simpson, JonBenet Ramsey, Mary Jo Kopechne, Daniel Spitz, Spitz’s, Spitz, —, Dr, King Locations: St . Clair Shores, Mich, Detroit, Macomb County

☆ Social Security isn’t keeping up with inflation. That could weaken Biden’s support among some seniors
▼ + stars: | 2024-04-28 | by ( Tami Luhby | ) edition.cnn.com time to read: +5 min

CNN —Not long ago, senior citizens got the two biggest annual increases in their monthly Social Security checks that most had ever seen. While inflation has afflicted Americans of every age, senior citizens are often in a more difficult predicament because many live off fixed incomes. Many depend heavily on Social Security – some 42% of elderly women and 37% of elderly men rely on the monthly payments for at least half their income, according to the Social Security Administration. They aren’t wrong: Inflation has eaten away at 36% of Social Security benefits’ buying power since 2000, according to an analysis last year from The Senior Citizens League. The president needs these senior voters since polls also show his support among younger Americans has eroded since 2020.

Persons: Joe Biden, Donald Trump, Biden, Shannon Benton, “, ”, Mary Johnson, Johnson, –, Trump, they’ve, Marty Cohen Organizations: CNN, Social Security, Senior Citizens League, Social Security Administration, Biden, James Madison University Locations: Pennsylvania, Arizona , Michigan, Wisconsin

☆ Perfection and Precision in a Poet’s Miniature Worlds
▼ + stars: | 2024-02-07 | by ( Elisa Gabbert | ) www.nytimes.com time to read: +2 min

Think of those intricate rooms behind glass at the Art Institute of Chicago, a chandelier dangling from crown molding at 1:12 scale. Each poem feels like a scene from a life re-enacted on a dollhouse movie set, a scaled-down world. “In my numb mind, a little leather jacket,/the sleeve no bigger than a thumb drive,” she writes, in “A Miniature.” “In that diminished instance,/I light a cigarette. They’re small because they’re stored in cells, in our nutshells, our mental microfiche. The work of miniaturizing a life is painstaking, and Bang’s poems have a characteristic clockwork precision — they tick and spin like mechanical music boxes.

Persons: “, Rosencrantz, hutch, Mary Jo Bang, ” Organizations: Art Institute of Chicago Locations: Denmark

☆ Berkshire Hathaway vice chairman Charlie Munger dies at 99
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +12 min

Nov 28 (Reuters) - Charlie Munger, the longtime vice chairman and second-in-command to Warren Buffett at Berkshire Hathaway (BRKa.N), died on Tuesday morning at a California hospital. For stock-pickers like us to lose Charlie Munger, would be like if you’re a basketball fan and you lose Bill Russell. "I wouldn't think Berkshire will look much different, apart from Buffett no longer being able to share ideas with Munger. CATHERINE SEIFERT, VICE-PRESIDENT, CFRA RESEARCH, NEW YORK“Berkshire Hathaway shareholders are not going to be directly or negatively impacted from the passing of Charlie Munger. Therewass already a transition plan in place and there's a transition plan in place when Warren Buffett passes away.

Persons: Charlie Munger, Warren Buffett, Charlie, WHITNEY TILSON, BRIAN MOYNIHAN, Charlie Mungerwass, ” BURNS MCKINNEY, Bill Russell, ”, Berkshire Hathaway, ” PHIL ORLANDO, FEDERATED HERMES, BILL, Buffett, Munger, PHILLIP, —, STEVE SOSNICK, “, ” WIN MURRAY, DIAMOND, MARY JO, BILL SMEAD, Warren, ” “ Buffett, Todd Combs, Ted Weschler, ” PAUL LOUNTZIS, Greg Abel, I've, you'll, STEPHEN DODSON, hewass, ” PAUL NOLTE, FOR MURPHY, Warren Buffet, they've, QUINCY KROSBY, RICK MECKLER, CHERRY, NEW VERNON, Hewass, obviouslywass, DOUG KASS, ” THOMAS RUSSO, GARDNER RUSSO, QUINN, CATHERINE SEIFERT, he's, ” ANTHONY SAGLIMBENE, THOMAS HAYES Organizations: Berkshire Hathaway, COOK, APPLE, WHO, KASE, OF, FEDERATED, Berkshire, ” WIN, THE BRETTON, SAN, SYLVEST, NEW, Buffett, GREAT, Global Finance, Markets, Thomson Locations: California, Munger, Berkshire, American, DALLAS , TEXAS, GLENVIEW, CALIFORNIA, CONNECTICUT, DIAMOND HILL, COLUMBUS , OHIO, PHOENIX, ” “ Berkshire, , PENNSYLVANIA, ELMHURST, IL, CHARLOTTE, NC, CHERRY LANE, NEW JERSEY, LANCASTER , PENNSYLVANIA, Munger . Berkshire, TROY , MICHIGAN, GREAT HILL

☆ William Casey, Who Uncovered Police Corruption, Dies at 78
▼ + stars: | 2023-11-24 | by ( Sam Roberts | More About Sam Roberts | ) www.nytimes.com time to read: +1 min

William M. Casey, a former New York City deputy police chief who was the unheralded hero of the “Dirty 30” corruption investigation that ensnared one-sixth of the officers assigned to a West Harlem precinct, died on Nov. 9 at his home in Pleasantville, N.Y. The cause was complications of a stroke and Parkinson’s disease, his daughter, Kimberly Wildey, said. The scandal — often described as the largest police corruption case involving a single precinct in the department’s history — was uncovered by a commission on police corruption appointed by Mayor David N. Dinkins in 1992 and headed by Justice Milton Mollen of the New York State Supreme Court. The case was prosecuted by the U.S. attorney’s office for the Southern District of New York under Mary Jo White. The operation resulted in charges against 34 officers, 30 of whom were either convicted or pleaded guilty to crimes ranging from perjury and civil rights violations to stealing drugs or cash from narcotics dealers.

Persons: William M, Casey, Kimberly Wildey, —, David N, Dinkins, Milton Mollen, Mary Jo White Organizations: New York, Court, U.S, Southern, of, West 151st Locations: New York City, West Harlem, Pleasantville, N.Y, of New York, Amsterdam Avenue

HARRISBURG, Pa. (AP) — A bill seeking to protect those who travel to Pennsylvania to get abortions by barring public officials from cooperating with authorities in other states that criminalize the practice advanced Wednesday through the Democratic-controlled House of Representatives. At least 16 states -- the majority of Democrat-controlled states -- have adopted laws seeking to protect abortion access since last year. Many of those laws have provisions that protect providers and the people who come from other states seeking an abortion. Josh Shapiro has positioned himself as a defender of abortion rights. Some of Pennsylvania’s neighboring states have sought to protect access to abortion, but those from states where abortion rights have been curtailed have come to Pennsylvania at greater rates seeking services.

Persons: Mary Jo Daley, ” “, ”, Charity Grimm Krupa, You’re, Josh Shapiro, Roe, Wade, Dobbs Organizations: Democratic, Representatives, GOP, Senate, Republicans, Democrat, Democratic Rep, Constitution, ” Democratic, Real Locations: HARRISBURG, Pa, Pennsylvania, Montgomery County, Fayette, U.S, Allegheny County, Western Pennsylvania, West Virginia, Ohio

But she isn’t certain that it will be enough, even with her Social Security benefits. Charles Blahous, a former Social Security trustee, said the annual COLA announcement is a reminder about the program's stressed finances. Mary Johnson, Social Security and Medicare policy analyst at the Senior Citizens League, says her organization supports the Social Security Administration using whichever index is higher to best protect older people from inflation. The maximum amount of earnings subject to Social Security payroll taxes for 2023 is $160,200, up from $147,000 in 2022. There have been legislative proposals to shore up Social Security, but they have not made it past committee hearings.

Persons: Karla Abbott, she’s, Charles Blahous, Mary Johnson, Kevin McCarthy, Abbott, Alfred Mason, Mason, Jo Ann Jenkins, ” Johnson, “, ” Organizations: WASHINGTON, Social Security, Bureau of Labor Statistics, Senior Citizens League, Social Security Administration, Security, Social, AARP, Senior Citizens Locations: Sioux Falls , South Dakota, Washington, Louisiana

Melania Trump is reportedly renegotiating the terms of her prenuptial agreement with Donald Trump, per Page Six. Lawyers told Insider renegotiating may be smart amid the legal troubles Donald Trump faces. Representatives for Donald Trump and several acquaintances of Melania Trump did not immediately respond to Insider's requests for comment. Melania Trump has thus far removed herself from her husband's 2024 presidential campaign, forgoing public appearances alongside Donald Trump on both the trail and in court. AdvertisementAdvertisementRegardless of what happens come 2024, Melania Trump is wise to renegotiate the agreement now, Rahmani said.

Persons: Melania Trump, Donald Trump, —, Mary Jordan, Bill Beslow, Marla Maples, Beslow, Trump, Demi Moore, Nicole Kidman, Al Pacino, Linda Evangelista, Mia Farrow, Donald Trump's, Neama Rahmani, it's, Rahmani Organizations: Service, Washington Post, Republican, Trump Organization's New, Trump, West, Trial Locations: New York, Manhattan, Trump Organization's New York, York City

☆ 47% of Americans say achieving retirement security will take a miracle. Why inflation is to blame
▼ + stars: | 2023-09-13 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

DusanManic | iStock | Getty ImagesAlmost half of Americans, 47%, say achieving retirement security will take a miracle, according to a new survey from Natixis Investment Managers. The results come as research from the firm shows the U.S. has improved its overall score for retirement security compared to last year, with 71% versus 69% in 2022. The five top countries for retirement security include Norway at No.1, followed by Switzerland, Iceland, Ireland and Luxembourg. Most survey respondents, 84%, say recent economic activity shows inflation is a big threat to their retirement security. Moreover, 58% of retirement savers and retirees say their biggest worry is outliving their money, Cerulli Associates recently found.

Persons: Dave Goodsell, Goodsell, it's, Cerulli, Mary Johnson, Johnson Organizations: iStock, Natixis Investment, Natixis Center, Investor Insight, Northwestern Mutual, Social Security, Senior Citizens League, Getty Locations: U.S, Norway, Switzerland, Iceland, Ireland, Luxembourg

☆ Opinion | I Put My Money on the Weeping Mothers at the Tennessee State Capitol
▼ + stars: | 2023-09-04 | by ( Margaret Renkl | ) www.nytimes.com time to read: +1 min

“No Significant Action Taken on TN Gun Laws” read the headline of The Tennessean on Wednesday, the day after the Tennessee General Assembly ended a special legislative session on gun safety. To call that headline an understatement is itself an understatement. Since then, every single day she worries if it will be her last because it almost was. As a mother, I’m going to have to look at my 9-year-old in the eye and tell her nothing. During the special session, which cost Tennessee taxpayers $58,000 a day, Republicans passed no legislation that would have any significant effect on gun violence in the state.

Persons: ”, Mary Joyce, ” Ms, Joyce, I’m Organizations: Tennessee General Assembly, Covenant School, Covenant Families Action Locations: Tennessee

☆ NASA's supersonic passenger flights are getting closer
▼ + stars: | 2023-08-25 | by ( Julia Buckley | ) edition.cnn.com time to read: +3 min

Since the 2003 end of Concorde, of course, flitting quickly across the Atlantic has been a thing of the past. Flights between London and New York take around eight hours, or closer to seven in the other direction. But now, the thought of supersonic travel has been mooted again – by none other than NASA, which reckons that New York-London flight could take as little as 90 minutes in the future. However, NASA is developing “quiet” supersonic aircraft, called X-59s, as part of its Quesst mission. Lockheed MartinSimilar studies to the ones done now, which were carried out a decade ago, shaped the development of the X-59 aircraft, according to Lori Ozoroski, project manager for NASA’s Commercial Supersonic Technology Project.

Persons: flitting, NASA’s, Lockheed Martin, Lori Ozoroski, ”, Mary Jo Long, Davis Organizations: CNN, Concorde, NASA, NASA’s Glenn Research Center, Atlantic, Air Vehicles, Boeing, Northrop Grumman Aeronautics Systems, Lockheed, NASA’s, Technology Locations: London, New York

☆ NASA moves forward with plans for supersonic planes that could fly from New York to London in 1.5 hours
▼ + stars: | 2023-08-25 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +3 min

NASA asked private companies to figure out how to make commercial supersonic flight "a reality." Mach 2 to 4 planes, flying up to 3,045 mph, could be used on 50 established flight routes, per NASA. This comes as NASA is starting to test its own X-59 supersonic plane to make sonic booms quieter. To make supersonic flight a reality, it needs to become quieterThe news comes as NASA begins testing its own supersonic plane. NASA/Lockheed MartinThis is an important experiment because non-military supersonic flight over land has been banned by federal regulations for over 50 years in the US.

Persons: Northrop Grumman, Mary Jo Long, Davis, Lockheed Martin, John Wolter, We're, Peter Coen Organizations: NASA, Service, Boeing, Northrop, Concorde, Technology, Lockheed, Lockheed Martin Skunk Works, Quesst Locations: Wall, Silicon, London, New York, Palmdale , California

☆ Claiming Social Security retirement benefits is a high-stakes decision. Don't let these 5 myths get in your way
▼ + stars: | 2023-08-19 | by ( Lorie Konish | ) www.cnbc.com time to read: +6 min

Moyo Studio | E+ | Getty ImagesSocial Security benefits provide retirement income for millions of Americans. Myth 1: Claiming early is bestNegative headlines may scare people into claiming as early as possible to get the most benefits. Eligibility for Social Security retirement benefits starts at age 62. Myth 4: Social Security benefits are not taxedThanasis | Moment | Getty ImagesThe misperception that Social Security benefits aren't taxed is "perhaps the biggest myth of all," said Mary Johnson, Social Security and Medicare policy analyst at The Senior Citizens League. That includes the sum of your adjusted gross income, nontaxable interest and half of your Social Security benefits.

Persons: that's, Joe Elsasser, Elsasser, Laurence Kotlikoff, Bruce Tannahill, there's, Kotlikoff, Tannahill, Mary Johnson, Anna Frank Organizations: Social Security, Social, Security, Boston University, Senior Citizens League . Social Security

☆ Social Security cost-of-living adjustment for 2024 may be 3%, estimate finds. How hurricane season may change that
▼ + stars: | 2023-08-18 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

"The COLA estimate might go down if gas and oil prices drop." Hurricanes, in particular, may prompt higher oil and gas prices, she said. "Certainly, hurricane season bears close monitoring, and we are entering the heart of it now," said AAA spokesman Andrew Gross. "A major storm impacting the Gulf Coast and nearby refineries will likely lead to a spike in gas prices for a few weeks," he said. However, the pressure may be off pump prices at the moment, he said, due to a combination of lower oil prices and flat demand.

Persons: Mary Johnson, Johnson, Andrew Gross Organizations: Istock, CPI, Social Security, Senior Citizens League, Hurricanes, National Oceanic, Atmospheric Administration, AAA, Seniors Locations: Coast

☆ US SEC poised to adopt rules for $20 tln private fund industry
▼ + stars: | 2023-08-17 | by ( Douglas Gillison | ) www.reuters.com time to read: +3 min

Signage is seen at the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsAug 17 (Reuters) - Wall Street's top regulator is set next week to adopt new transparency rules for the $20-trillion private investment fund industry, according to an official notice, acting on a proposal that has drawn sharp industry objections. In early 2022, the SEC proposed a set of changes for private fund advisers that would, among other things, require them to produce quarterly statements on performance and fees and submit to annual audits. Under current rules, some broker-dealers who perform proprietary trades on exchanges of which they aren't members need not join FINRA. The proposal would now require FINRA membership for such broker-dealers unless they are members of national securities exchanges and carry no customer accounts.

Persons: Andrew Kelly, Mary Jo White, Douglas Gillison, Andy Sullivan, Alistair Bell Organizations: U.S . Securities, Exchange Commission, SEC, Washington , D.C, REUTERS, Financial Industry Regulatory Authority, Democratic, Industry, Securities Industry, Financial Markets Association, Thomson Locations: Washington ,

☆ In the Shadow of More Fiery Rivals, Pence Leans Into Civility Politics
▼ + stars: | 2023-08-12 | by ( Neil Vigdor | More About Neil Vigdor | ) www.nytimes.com time to read: +1 min

Looking to contrast himself with former President Donald J. Trump and Gov. Ron DeSantis of Florida — leading rivals in the race for the Republican nomination who converged on Iowa on Saturday — former Vice President Mike Pence made a play for civility politics during a round table with about two dozen Christian college and university presidents. When Mr. Pence arrived at the event in Ankeny, Iowa, Mary Jo Brown, 67, told the former vice president that he was “a man of integrity.”A former teacher at Faith Baptist Bible College and Theological Seminary, a private Christian school, Ms. Brown said in an interview that Mr. Pence’s faith had guided his decision-making on Jan. 6 and that she would support him “if he can get through.”Mr. Pence is polling at a distant sixth place in Iowa, according to a recent New York Times/Siena College poll, far behind contenders like Mr. Trump and Mr. DeSantis, who are commanding attention in Iowa this weekend with their brasher style of politicking.

Persons: Donald J, Ron DeSantis, Mike Pence, Pence, Mary Jo Brown, ”, Brown, ” Mr, Trump, DeSantis Organizations: Trump, Gov, Republican, Faith Baptist Bible College, Theological Seminary, New York Times, Siena College Locations: Florida, Iowa, Ankeny , Iowa

☆ Trump says it's really 'unpleasant' that he has to keep telling Melania he's been indicted again
▼ + stars: | 2023-07-31 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Trump says it's "always unpleasant" when he has to tell Melania about getting indicted again. I have absolutely no idea,'" Trump added. I have absolutely no idea,'" Trump continued. For one, Trump took two hours before finally going to face Melania after the infamous "Access Hollywood" tape was released back in 2016, per an excerpt from The Washington Post reporter Mary Jordan's book on Melania, "The Art of Her Deal: The Untold Story of Melania Trump." "He reserves — he listens to many of us, but he reserves fear for one person, Melania Trump," Conway told the committee's investigators.

Persons: Trump, Donald Trump, John Fredericks, Stormy Daniels, Mary Jordan's, Melania Trump, Kellyanne Conway, Melania, Conway Organizations: Service, Prosecutors, FBI, Washington Post, White, Capitol, Trump Locations: Wall, Silicon, Florida, Lago

☆ Social Security’s Next Cost-of-Living Raise Is Forecast Around 3%
▼ + stars: | 2023-07-28 | by ( Mark Miller | ) www.nytimes.com time to read: +1 min

More than 74 million Americans can expect a healthy inflation adjustment to their Social Security benefits next year — just not as large as this year’s historic 8.7 percent raise. The recent slowdown in inflation points to a 2024 Social Security cost-of-living adjustment, or COLA, of around 3 percent, according to a forecast by the Senior Citizens League. “A 3 percent COLA would be nothing to sneeze at.” Other estimates point to a possible raise of just over 3 percent. The COLA is a crucial feature of Social Security that helps seniors and other beneficiaries keep up with inflation. The Social Security Administration will announce the COLA in October, after September inflation data is released.

Persons: —, Mary Johnson, ” Organizations: Social Security, Senior Citizens League, Medicare

☆ Former Commanders owner Snyder fined $60 million
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +3 min

July 20 (Reuters) - The National Football League has fined former Washington Commanders owner Dan Snyder $60 million after an investigation into allegations of misconduct and financial improprieties, the league said on Thursday after approving his sale of the team. Goodell later expanded White's review to include alleged financial misconduct at the club, after those allegations were first raised before a Congressional committee. Johnston, a former cheerleader and marketing manager for the Commanders, told members of a House Oversight Committee that Snyder made sexual advances on her. The investigators also concluded that the Commanders withheld about $11 million in revenue, and possibly more, that should have been shared with other NFL teams. The report said it was unable to determine the total amount of improperly shielded revenues as Snyder failed to fully cooperate with the investigation.

Persons: Dan Snyder, Roger Goodell, Mary Jo White, Snyder, Tiffani Johnston, Goodell, Johnston, Johnston's, Ms, White, Frank Pingue, Pritha Sarkar Organizations: National Football League, Washington, NFL, U.S . Securities, Exchange, Congress, Philadelphia 76ers, New Jersey Devils, Thomson Locations: Toronto, Lincoln

☆ Medicare Part B premiums may increase in 2024, prompted by a new Alzheimer's treatment
▼ + stars: | 2023-07-20 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

If Part B premiums go up next year prompted by the new Alzheimer's drug, it will not be the first time. However, Part B premiums dropped by 3% for 2023 in response to Medicare's decision to limit Aduhelm coverage. How Part B premiums affect Social Security checksThe Senior Citizens League is currently predicting a 3% Social Security cost-of-living adjustment for 2024, based on the latest government inflation data. Medicare Part B premium payments are typically deducted directly from monthly Social Security checks. Medicare patients may pay more than $5,000 annually for the treatment, according to KFF.

Persons: Juliette Cubanski, Mary Johnson, Johnson, KFF, Cubanski, Jasmin Merdan Organizations: Senior Citizens League, Social Security, Medicare, Security

Daniel Snyder was fined $60 million, by far the largest penalty ever levied against an N.F.L. team owner, after he was found to have sexually harassed a woman who was both a former cheerleader and a marketing employee for the Washington Commanders. According to the report, her account was supported by evidence and contemporaneous witnesses. The findings were reported by Mary Jo White, a former federal prosecutor and chairwoman of the Securities and Exchange Commission, who spent 17 months looking into allegations of widespread sexual harassment against executives at the team, including Snyder, as well as claims of financial improprieties. released White’s report immediately after the 31 other clubs unanimously approved the sale of the Commanders to an investment group led by Josh Harris for $6.05 billion, a record for an American pro sports team.

Persons: Daniel Snyder, Tiffani Johnston, Snyder, Mary Jo White, Josh Harris Organizations: Washington, Securities and Exchange Commission

☆ NFL approves sale of Washington Commanders and evies $60 million fine on ex-owner
▼ + stars: | 2023-07-20 | by ( David Close | ) edition.cnn.com time to read: +3 min

CNN —The Washington Commanders will have a new ownership group as the team’s previous owner faces a $60 million fine from the league following an independent investigation finding workplace misconduct and financial improprieties. The Commanders’ new ownership group includes Basketball Hall of Famer Magic Johnson and billionaire Mitch Rales, Harris’ longtime sports business partner. NFL commissioner Roger Goodell congratulated Harris and his partners after the unanimous vote. Johnston told a congressional committee that the Commanders owner had put his hand on her leg under the table at a work dinner and tried to persuade her to get into his limousine. “The conduct substantiated in Ms. White’s findings has no place in the NFL,” a statement from NFL commissioner Roger Goodell stated.

Persons: Josh Harris, Harris, Basketball Hall of Famer Magic Johnson, Mitch Rales, Harris ’, Roger Goodell, “ Josh, Josh, ” Goodell, Daniel Snyder, Snyder, Tanya, Dan Snyder, Mary Jo White, White, Tiffani Johnston, Johnston, ”, “, Ms, ” Snyder, —, “ Mr, Goodell Organizations: CNN, Washington, NFL, Apollo Global Management, Philadelphia 76ers, New Jersey Devils, Basketball Hall of Famer, Street Journal, former Securities and Exchange Commission, SEC, ” Locations: Washington, Minnesota

☆ As inflation cools, Social Security beneficiaries may see a much lower cost-of-living adjustment in 2024
▼ + stars: | 2023-07-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

As the rate of inflation continues to fall, Social Security beneficiaries may expect to see a much lower cost-of-living adjustment for 2024. The Social Security COLA may be 3%, according to a new estimate from The Senior Citizens League, a nonpartisan senior group, based on new consumer price index data for June released on Wednesday. A lower 2.6% rise would happen if there is no net inflation for the rest of the year, according to the forecast. The projected increases to benefits for next year would fall short of the 8.7% rise beneficiaries saw in 2023 — the highest boost in four decades. In 2022, beneficiaries saw a 5.9% increase, which was also a record increase at the time.

Persons: Mary Johnson Organizations: Social, Social Security, Senior Citizens League, Finance, Federal Budget

☆ As inflation starts to subside, a lower Social Security cost-of-living adjustment for 2024 may be on the horizon
▼ + stars: | 2023-04-13 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

New government inflation data shows inflation is cooling — and that could point to a lower cost-of-living adjustment, or COLA, for Social Security beneficiaries next year. Yet another measure used to calculate the Social Security COLA each year — the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W — rose 4.5% over the last 12 months and 0.3% for the month prior to seasonal adjustment. To be sure, that is a very early estimate, according to Mary Johnson, Social Security and Medicare analyst at The Senior Citizens League. Gauging how much the increase for 2024 will be, if there is one, will be clearer toward the second half of the year, she said. In 2023, Social Security beneficiaries saw an 8.7% bump to their Social Security benefits, a four-decade record prompted by high inflation.

☆ You may face a 'stealth tax' on Social Security benefits, expert warns. These steps can help
▼ + stars: | 2023-04-05 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

The reason: More of their Social Security benefits may be taxed following a higher 5.9% cost-of-living adjustment in 2022. Unlike other tax thresholds, the Social Security income levels have not been adjusted for inflation since taxation of benefits began in 1984. Not moving the brackets or indexing them gradually exposes more and more people to income taxes on their Social Security benefits, according to David Freitag, a financial planning consultant and Social Security expert at MassMutual. The result is a "stealth tax," Freitag said. How Social Security benefits are taxedUp to 85% of Social Security benefits may be taxed, based on current tax rules.

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