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☆ Some workers qualify for a maximum Social Security retirement benefit. But even people with moderate earnings can increase their checks
▼ + stars: | 2024-10-17 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

With that increase, the maximum Social Security benefit for a worker retiring at full retirement age will jump to $4,018 per month, up from $3,822 per month this year, according to the Social Security Administration. Who gets maximum Social Security benefits? Since Social Security retirement benefits are calculated based on the highest 35 years of earnings, workers need to consistently have wages up to that threshold to earn the maximum retirement benefit. If a wealthy person has other sources of income, for example from investments that do not require payroll tax contributions, that will not affect the size of their Social Security benefits, said Jim Blair, vice president of Premier Social Security Consulting and a former Social Security administrator. How can you increase your Social Security benefits?

Persons: Paul Van de, Van, Water, Jim Blair Organizations: Social, Social Security, Social Security Administration, Security, Budget, Premier Social Security Consulting

☆ Bipartisan group of lawmakers wants to eliminate Social Security rules affecting public employees. What could happen next.
▼ + stars: | 2024-09-12 | by ( Lorie Konish | ) www.nbcnews.com time to read: +6 min

The bill — the Social Security Fairness Act — would repeal two rules that reduce Social Security benefits for workers and spouses, widows and widowers who also receive pension income. If brought to the House floor, the Social Security Fairness Act may pass, based on the 327 co-sponsors who are currently behind the proposal. The government pension offset reduces Social Security benefits for spouses, widows and widowers who also have pension income. But if she retirees and begins collecting the pension benefits she earned, that Social Security income may disappear. Eliminating the rules through the Social Security Fairness Act would also cost the program at a time when Social Security faces looming trust fund depletion dates, he said.

Persons: Abigail Spanberger, Garret Graves, There’s, ”, Emerson Sprick, —, Sprick, Roger Boudreau, Boudreau, ” Boudreau, Paul Van de Water, Van, ” Van, Water, ” Sprick, it’s, ” Sen, Mike Braun, “ Organizations: Security, Social, Senate, Center, GPO, Social Security, Rhode Island American Federation of Teachers, Budget, Congressional, Republican

☆ 'Record-breaking backlog' leads to $1.1 billion in improper Social Security payments, report finds
▼ + stars: | 2024-08-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

zimmytws | iStock | Getty ImagesThe Social Security Administration faces a "record-breaking backlog" of open cases, leading to approximately $1.1 billion in projected improper payments to beneficiaries, according to a new report from the Social Security Administration Office of the Inspector General. Of those that were improper payment cases, the average processing time was 698 days, according to a sample evaluated by SSA OIG. Improper payment includes overpayments, where beneficiaries are paid more than they should be, as well as underpayments, where payments to beneficiaries may be erroneously reduced. watch nowIf the pending cases had been resolved immediately, about 528,000 beneficiaries would have been improperly paid about $534 million, the report estimated. After 12 months, that improper payment amount for those beneficiaries rose to about $756 million.

Persons: Paul Van de Water, Van, Water Organizations: iStock, Social Security Administration, Social Security Administration Office, SSA, Budget

☆ Julianne Moore’s Montauk Sanctuary
▼ + stars: | 2023-09-21 | by ( Nick Haramis | ) www.nytimes.com time to read: +34 min

— HANYA YANAGIHARASpeak Softly In a wild meadow by the sea, Julianne Moore and Bart Freundlich’s Montauk house uses just a few materials to say many things. In Moore’s office, a Pierre Jeanneret desk and chair, an Alvar Aalto stool and a Willy Van Der Meeren cabinet. In the oak-paneled living room of Justinian Kfoury’s apartment in a townhouse on Washington Square Park, an Audubon-style print and a Hans Wegner Papa Bear chair. A view of the double-height living room from the curved balcony on the third floor. A sculpture by Huma Bhabha and a configuration of five Isamu Noguchi L7 pendants in the landing that separates the primary suite from the living room.

Persons: it’s, Mishan, there’s, —, Julianne Moore, Bart Freundlich’s Montauk, Bart Freundlich’s, Moore, Tom Volk, Oliver Freundlich, Anne’s, Pierre Jeanneret, Alvar Aalto, Willy Van Der, Ori Gersht, she’s, ” It’s, ”, “, Bart Freundlich, Tomas Maier, Bottega, Andrew Geller, Norman Jaffe, Freundlich, ” Moore, Moore’s, Liv, Caleb, Robert Gurr, Isamu Noguchi, Pierre, Noguchi, Alma Allen, Joseph Dirand, Oliver, “ I’m, ” Oliver, grins, MOORE, Anne Love Smith, Massimiliano Locatelli, Daniel Romualdez, Vincent Van Duysen, Charlotte Perriand, Pierre Chapo, Willy Van Der Meeren, Friedrich Kunath, Mark Wilson, Donald Judd, Wilson, Mario Bellini, Karl Springer, Rogan Gregory, Nancy Pearce, Oscar, Alice ”, Alexander Calder, Andrea Zittel, JB Blunk, AFTRA, Hope, It’s, ‘ You’re, ’ ”, Justinian, Hans Wegner Papa Bear, Paavo, Marc Hundley, that’s, Adriana Lara, Nicholas Krushenick, Justinian Kfoury, downtowners, He’d, Trish Goff, Kfoury, Leonid Berman, Jelto ”, Tomma Abts, Paul Cadmus, Edith Wharton, Henry James, Paul van der, ” Kfoury, Joe Roberts, Mary Cameron Goodyear, Kfoury’s, He’s, Wolfgang Tillmans, they’d, Lorna Simpson, Misha Kahn, Michael Anastassiades, Glenn Ligon’s, Frank Bowling, Piet Hein Eek, Miriam Cahn, Paul Pfeiffer’s, Leah Panlilio, Tal Schori, Rustam Mehta, Adam Pogue, Constantino Buccolieri, Michael Kirkland, Cy Twombly’s, Ho, Huma Bhabha, Nairy Baghramian, Coco Fusco, Robert Vinas Jr, Duro Olowu, Mark Ellison, Adam Marelli, Bob Chan, Isamu Noguchi Akari, Danh Vo, Nairy, ‘, Laura Mac Donald, Theaster Gates, Frank Lloyd, Kirkland, Ettore, Parsons, Jasper Johns, Merce Cunningham Organizations: Manhattan’s, Yorkers, that’s, Hamptons, WHO, Writers Guild of America, SAG, “, Audubon, Washington, East Village, brac, AS, Fifth, Fort Standard, GRT Architects, Architects, Walt Disney Concert Hall, Soane Britain Locations: New York, Paris, London, Rome , New York, It’s, Washington, Manhattan, Harlem, Montauk, American, Chinatown, York, N.Y, Summerhill, Long, Fort Pond, New York City, Pond, North Carolina, Morentz, Scottish, Japanese American, Belgian, East Hampton, Japan, “, California, Swiss, New York’s Washington, Kennebunkport, England, East, Boston, Lebanon, Maine, Vermont, Venice, Moroccan, North, Kfoury’s, New York’s Harlem, Westchester County, Brooklyn, Italian, Finnish, Rome, Los Angeles, Korean, Berlin, Iranian, Chicago

☆ Inside the Elaborate, Enviable Design of Three New York Homes
▼ + stars: | 2023-09-21 | by ( ) www.nytimes.com time to read: +34 min

If You Can Make It Here Great design for a great city (New York, of course — where else?) In the oak-paneled living room of Justinian Kfoury’s apartment in a townhouse on Washington Square Park, an Audubon-style print and a Hans Wegner Papa Bear chair. “She was eccentric, grand, but not afraid of making weird decisions about design.” In the living room, a 1975 Leonid Berman painting of the Venice Lagoon hangs between the French doors. A view of the double-height living room from the curved balcony on the third floor. A sculpture by Huma Bhabha and a configuration of five Isamu Noguchi L7 pendants in the landing that separates the primary suite from the living room.

Persons: it’s, Mishan, there’s, —, Justinian, Hans Wegner Papa Bear, Paavo, Marc Hundley, that’s, Adriana Lara, Nicholas Krushenick, ”, Justinian Kfoury, downtowners, He’d, Trish Goff, Kfoury, “, Leonid Berman, Jelto ”, Tomma Abts, Paul Cadmus, Edith Wharton, Henry James, Paul van der, ” Kfoury, Joe Roberts, Mary Cameron Goodyear, Kfoury’s, He’s, Wolfgang Tillmans, they’d, It’s, Lorna Simpson, Mario Bellini, Misha Kahn, Michael Anastassiades, Glenn Ligon’s, Frank Bowling, Piet Hein Eek, Miriam Cahn, Paul Pfeiffer’s, Leah Panlilio, Tal Schori, Rustam Mehta, Adam Pogue, Constantino Buccolieri, Michael Kirkland, Alvar Aalto, Cy Twombly’s, Ho, Huma Bhabha, Isamu Noguchi, Nairy Baghramian, Coco Fusco, Robert Vinas Jr, Duro Olowu, Mark Ellison, Adam Marelli, Bob Chan, Isamu Noguchi Akari, Danh Vo, Nairy, ‘, Laura Mac Donald, Theaster Gates, Frank Lloyd, Kirkland, Ettore, Parsons, Jasper Johns, Merce Cunningham, Julianne Moore, Bart Freundlich’s Montauk, Bart Freundlich’s, Moore, Tom Volk, Oliver Freundlich, Anne’s, Pierre Jeanneret, Willy Van Der, Ori Gersht, she’s, ” It’s, Bart Freundlich, Tomas Maier, Bottega, Andrew Geller, Norman Jaffe, Freundlich, ” Moore, Moore’s, Liv, Caleb, Robert Gurr, Pierre, Noguchi, Alma Allen, Joseph Dirand, Oliver, “ I’m, ” Oliver, grins, MOORE, Anne Love Smith, Massimiliano Locatelli, Daniel Romualdez, Vincent Van Duysen, Charlotte Perriand, Pierre Chapo, Willy Van Der Meeren, Friedrich Kunath, Mark Wilson, Donald Judd, Wilson, Karl Springer, Rogan Gregory, Nancy Pearce, Oscar, Alice ”, Alexander Calder, Andrea Zittel, JB Blunk, AFTRA, Hope, ‘ You’re, ’ ” Organizations: Manhattan’s, Yorkers, that’s, Audubon, Washington, East Village, brac, AS, Fifth, Fort Standard, GRT Architects, Architects, Walt Disney Concert Hall, Soane Britain, Hamptons, WHO, Writers Guild of America, SAG, “ Locations: New York, Paris, London, Rome , New York, It’s, Washington, Manhattan, Harlem, Montauk, American, Chinatown, York, New York’s Washington, Kennebunkport, England, East, Boston, Lebanon, Maine, Vermont, Venice, Moroccan, North, Kfoury’s, New York’s Harlem, Westchester County, N.Y, Brooklyn, Italian, Finnish, Rome, Los Angeles, Korean, Berlin, Iranian, Chicago, North Carolina, California, Summerhill, Long, Fort Pond, New York City, Pond, Morentz, Scottish, Japanese American, Belgian, East Hampton, Japan, “, Swiss

The fresh price falls in Europe came as investors were looking to see how far U.S. authorities would go to shore up the banking sector, particularly fragile regional lenders. REUTERS/Dado Ruvic/Illustration/File Photo 1 2CDS surge on banking sector turmoilUBS CHALLENGESThe global banking sector has been shaking since the sudden collapse this month of SVB and Signature Bank. But the worries spread quickly, and on Sunday UBS (UBSG.S) was rushed into taking over Swiss rival Credit Suisse after it lost the confidence of investors. Separate sources told Reuters that UBS has promised retention packages to Credit Suisse wealth management staff in Asia to stem a talent exodus. Standard Chartered (STAN.L) Chief Executive Bill Winters said on Friday the wipeout of Credit Suisse bondholders had "profound" implications for global bank regulations.

☆ European banks face renewed selling pressure
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +8 min

So people are acting with their feet and continuing to sell bank stocks. ING ECONOMICS TEAM (emailed) "Most European banks are impacted by these events mainly via the more cautious market sentiment. "It seems like post what happened to Credit Suisse last weekend, two things might be at play here. “European banks probably suffered from contagion from what was going on in the US, where the regional banks seem to be under pressure in the rising rate environment. European banks have, in fact, had no fundamental issues whatsoever.

☆ Higher Social Security cost-of-living adjustments may affect your taxes. Here's how to plan
▼ + stars: | 2023-01-20 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Social Security recipients are just starting to see the record 8.7% cost-of-living adjustment in their monthly checks. Last year's 5.9% cost-of-living adjustment was like getting a 6% wage bump in 2022, according to Mary Johnson, Social Security and Medicare policy analyst at The Senior Citizens League. A recent survey by The Senior Citizens League found 57% of older taxpayers worry more of their Social Security benefits will be taxed due to last year's 5.9% cost-of-living adjustment. More from Personal Finance:What the U.S. debt ceiling could mean for Social Security and MedicareApproaching 62? However, beneficiaries would be wise to get a jump on their tax planning for next year to mitigate the effects of the 8.7% cost-of-living adjustment.

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