Article Excerpt: "...When his FERS suppplement stopped at age 62, he filed for early Social Security benefits. As a FERS employee, I plan to retire with 30 years at age 59. I will receive the FERS supplement until age 62. I plan to wait until ..."
Article Excerpt: "...A pension based on earnings not covered by Social Security can affect the amount of your Social Security benefit. ...WEP Calculator..."
 |
| Social Security Survivors Benefits |
Article Excerpt: "...For those who work, that includes payroll taxes, also known as FICA taxes, because they are collected under the Federal Insurance Contributions Act. The tax payments are usually split between employer and employee and include 12.4 percent collected to pay for Social Security, as well as 2.9 percent to pay for Medicare...."
Article Excerpt: "...In this scenario, Joe would receive one month’s extra benefit, less $5, at the expense of having all his benefits from August through the month he reaches full retirement age reduced by one extra month’s reduction. This expense would..."
Article Excerpt: "...Some people have to pay federal income taxes on their Social Security benefits. This usually happens only if you have other substantial income (such as wages, self-employment, interest, dividends and other taxable income that must be reported on your tax return) in addition to your benefits...."
Article Excerpt: "...Many retirees and preretirees are unaware of their Social Security claiming options, a recent survey showed...."
Article Excerpt: "...When you do the math on the increases in Social Security benefits and Medicare part A and B payments, then lump them with the changing costs of food, gas and health care, senior and disabled Americans still face tight budgets in 2015—and some could find themselves in a hole...."
Article Excerpt: "...If you retire voluntarily on an immediate annuity which is not reduced for age, you may be eligible for the annuity supplement, in addition to your regular monthly FERS benefit. You may also receive the supplement if you retired involuntarily before attaining your Minimum Retirement Age (MRA) or voluntarily because of a major reorganization, reduction in force, or an early retirement for Members of Congress. However, in these three instances, you will not be eligible for the annuity supplement until you reach your Minimum Retirement Age (MRA). If you receive a deferred benefit, a disability benefit or an immediate MRA+10 benefit, you will not be eligible for the annuity supplement...."
Article Excerpt: "...Individuals with IRAs are required to begin lifetime RMDs from their IRAs no later than April 1 of the year following the year in which they reach age 70½. (This is in contrast to RMDs from employer-sponsored plans which, in most cases, may be postponed until after the employee retires or reaches age 70½, whichever is later). ..."
Article Excerpt: "...The Office of Personnel Management (OPM) is adopting its proposed phased retirement regulations with four minor changes. Phased retirement is a human resources tool that will allow full-time employees to work a part-time schedule and draw partial retirement benefits during employment. The “Moving Ahead for Progress in the 21st Century Act,” or “MAP-21,” requires OPM to publish regulations implementing phased retirement under the Civil Service Retirement System (CSRS) and the Federal Employees' Retirement System (FERS). The final rule informs agencies and employees about who may elect phased retirement, what benefits are provided during phased retirement, how OPM intends to compute the annuity payable during and after phased retirement, and how employees may fully retire after a period of phased retirement. The final rule does not address every administrative detail of the phased retirement process. OPM will be issuing separate guidance to assist agencies and employees..."
Article Excerpt: "...Question: My husband died when he was 58. Should I start collecting his death benefits at age 60 or wait until 66? He made a lot more money than I have or ever will.
Answer: Your best strategy is probably to wait until..."
Article Excerpt: "...how the Windfall Elimination Provision may — or may not — affect your benefits if you receive or will receive a government pension...."
Article Excerpt: "...The RAISE Act is not the only proposal to expand Social Security. Last year, Sen. Tom Harkin (D-IA) introduced the Strengthening Social Security Act (S. 567) in the Senate, with Rep. Linda Sanchez (D-CA) introducing a companion bill in the House (H.R. 3118). The Strengthening Social Security Act proposes adjusting the benefits formula to provide an increase in benefits for most beneficiaries and improving the program’s finances by lifting the earnings cap on Social Security contributions. ..."
Article Excerpt: "...“It’s intentionally used to produce low-ball benefit estimates so people will save more on their own and they won’t be so hurt if the system’s benefits are cut in the future, which seems likely. ..."
Article Excerpt: "...This period includes when you reach what Social Security calls your “full retirement age” — 66 for those born between 1943 and 1954, as old as 67 for later arrivals — and what might be called a bonus period after that, ending at age 70...."
Article Excerpt: "...You can contribute to Social Security your entire life and get back less in benefits than someone who never worked and never contributed a penny to the system...."
Article Excerpt: "...If you’ve recently begun receiving Social Security benefits or plan to apply in the near future, you may be wondering this tax season: are Social Security benefits taxable?..."
Article Excerpt: "...Here, inside the caverns of an old Pennsylvania limestone mine, there are 600 employees of the Office of Personnel Management. Their task is nothing top-secret. It is to process the retirement papers of the government’s own workers. But that system has a spectacular flaw..."
Article Excerpt: "...But Jolly had an easy comeback: He denied wanting to privatize Social Security, and fired back by noting that Sink voiced some support for the Simpson-Bowles debt-reduction plan, which included cuts to Social Security...."
Article Excerpt: "...Critics countered that the chained CPI doesn’t account for medical costs which make up a larger share of expenses for older people than for the population as a whole and would over time cost federal retirees thousands of dollars...."
Article Excerpt: "...Most people aren't careless with the things they value the most. Surprisingly, one exception is how most people treat their most valuable retirement asset -- Social Security...."
Article Excerpt: "...Some of the Social Security rules can be frighteningly complex. Because it will likely represent a large portion of your retirement income, it's important to understand how the government program works...."
Article Excerpt: "...the Medicare Part D "doughnut hole" -- the no-man's land in which beneficiaries pay the full cost for prescriptions after they have used up their basic benefit and before they reach an upper "catastrophic" mark when coverage resumes...."
Article Excerpt: "... Social Security benefits were never intended to go mostly toward medical bills. Yet today, even with Medicare (including the prescription drug coverage - Medicare Part D - which took effect in 2006), out-of-pocket health care costs are well on their way to eating up half of the average Social Security check of seniors and their surviving spouses. ..."
Article Excerpt: "..."We keep hearing rumors of buyout ... but without any confirmation," a federal HR official said earlier this week. "It's almost like [the situation] with the SES bonuses, as if [the administration] doesn't want to talk about it." ..."