The Social Security Administration is warning all Social Security recipients to keep on the look-out for fraudulent callers impersonating Social Security Administration employees. Acting Inspector General of Social Security, Gale Stallworth Stone, issued an official fraud advisory yesterday warning anyone who receives a phone call from an SSA “employee” asking for personal information to… Continue Reading
What is a consumer price index? The U.S. Bureau of Labor and Statistics (BLS) determines Social Security cost-of-living adjustments (COLAs) each year using establishedconsumer price indexes (CPIs). CPIs are systems by which our government can measure price changes in several different spending areas for a particular demographic or for American consumers in general. Together, these… Continue Reading
Income The Pension Rights Center reports in 2014/2015 retirees received income from five primary sources. Percentages are based on retired couples age 65 and older: Social Security: 84% Assets: 62% Pensions: 37% Earnings: 29% Public assistance: 4% According to NewRetirement, average and median income in these areas for a retired couple 65 and older looks… Continue Reading
Though it remains a heavily debated idea in the States, privatized Social Security and pension systems have existed for many years across the globe. Chile became the first country to adopt a privatized system in 1981, followed by Bolivia, El Salvador, Mexico, Poland, and Sweden, to name a few. These systems can be fully privatized… Continue Reading
The life expectancy is much longer today than it was when Social Security was created. Virginia Foxx, R-NC Most people understand life expectancy has changed since Social Security started in 1937 when folks lived to be 59 years old. Today, they live to be 77 years old. … Continue Reading