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Search resuls for: "National Academy of Social Insurance"


3 mentions found


☆ Many Americans have no idea how much they need to save for retirement — and the calculus is getting even more complicated
  + stars: | 2024-05-09 | by ( Ayelet Sheffey | Juliana Kaplan | Madison Hoff | ) www.businessinsider.com   time to read: +6 min
Many Americans don't know, and it's getting even harder to calculate — especially as Social Security is poised to start reducing benefits in just about a decade. Related stories"That number is all over the place," Copeland said, referring to how much people are going to need in retirement savings. "It will be devastating if people who already are facing very dire retirement prospects get less Social Security than they're planning on. Estimating how much you will need in retirement may be helpful, even long before retirement. That highlights the fact that calculating how much you're going to actually need in retirement is complicated.
Persons: it's, That's, there's, Craig Copeland, Copeland, —, William Arnone, Indira Venkateswaran, Greenwald Organizations: Service, Security, Greenwald Research, Business, AARP, Wealth, Research Institute, Social, Social Security, National Academy of Social Insurance Locations: America
☆ Americans will lose full Social Security benefits in 11 years, according to the program's trustees — a year later than expected
  + stars: | 2024-05-06 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com   time to read: +5 min
Full Social Security benefits are expected to run out in 2035, per the program's trustees. AdvertisementAs more Americans fear being unprepared for retirement — and rely solely on Social Security — those full benefits might not be long-lived. Meanwhile, among the income that typical retirees do receive, just under 80% see income from Social Security. The latest estimates on Social Security also come as the US economy braces for a "peak boomer" wave of new retirees. That's the biggest group of boomers retiring yet, and, per that analysis, many will end up having to rely on Social Security benefits to stay afloat.
Persons: That's, —, William Arnone, Martin O'Malley, Kevin Hern Organizations: Security, Social Security, Service, National Academy of Social Insurance, Insurance Trust, Disability Insurance Fund, Social, Survey, Alliance, Lifetime, GOP, Republican
☆ 4 Social Security benefit changes may help people who can't work until full retirement age, report finds
  + stars: | 2023-11-03 | by ( Lorie Konish | ) www.cnbc.com   time to read: +5 min
That includes four Social Security benefit changes that may help this vulnerable population as they age, according to the task force. Create a bridge benefitA bridge Social Security benefit could help workers who cannot work until their full retirement age, but who are unable to claim Social Security disability benefits. The bridge benefit would start from age 62, when claimants are first eligible for retirement benefits, and last until age 67, or full retirement age. Claimants would receive half the difference between what they would receive at full retirement age versus age 62. Change the earnings testPeople who claim Social Security retirement benefits before their full retirement age and who continue to work may be subject to an earnings test.
Persons: Turner, Joel Eskovitz, Vallas, John Larson, Conn Organizations: Getty Images Workers, Social, Social Security, AARP, Institute, National Academy of Social
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