Headlines about "Social Security - benefits, incl. coverage"
Gathered from the web by the editors at BenefitsLink.com.
Annual Statistical Supplement, 2011, Published by the U.S. Social Security Administration
"The Supplement is a major resource for data on our nation's social insurance and welfare programs. The majority of the statistical tables present information about programs administered by the Social Security Administration -- the Old-Age, Survivors, and Disability Insurance program, known collectively as Social Security, and the Supplemental Security Income program. In addition, data are presented on the major health care programs -- Medicare and Medicaid -- and social insurance programs, including workers' compensation, unemployment insurance, temporary disability insurance, Black Lung benefits, and veterans' benefits. The Supplement also includes program summaries and legislative histories that help users of the data understand these programs." (U.S. Social Security Administration)
Social Security Bulletin (February 2012)
Vol. 72, No. 1. Articles include The Impact of Changes in Couples' Earnings on Married Women's Social Security Benefits, The Retirement Prospects of Divorced Women, This Is Not Your Parents' Retirement: Comparing Retirement Income Across Generations; and The Increasing Labor Force Participation of Older Workers and its Effect on the Income of the Aged. (U.S. Social Security Administration)
Government Health Spending Seen Hitting $1.8 Trillion
"[R]esearchers warned that the longer term prospects for rising healthcare spending could have dire consequences for the U.S. deficit when combined with the cost of Social Security, if current revenue levels remain unchanged." (Reuters)
Downgrades in Ratings Loom for G20 Nations on Health Costs, S&P Warns
"Ratings agency Standard & Poor's warned it may downgrade 'a number of highly rated' Group of 20 countries from 2015 if their governments fail to enact reforms to curb rising healthcare spending and other costs related to ageing populations." (Reuters)
Social Security Annual Statistical Supplement, 2011
"Data are preliminary and subject to revision until the entire 2011 edition is complete. Subsections are posted as they are completed." (U.S. Social Security Administration)
To Maximize Social Security Retirement Benefits, Know the Rules
"Social Security offers another important incentive to forestall filing until at least 66. Benefits are reduced permanently for every year that is filed before the FRA, and increased for every year that is waited to file beyond it, up till the age of 70." (Thomson Reuters via Employee Benefit News)
How to Improve Social Security Education: Retirement Plan Providers' Perspectives (PDF)
"The experts and retirement plan providers interviewed in this study indicate a significant desire for greater collaboration with the Social Security Administration to develop effective communications and deliver useful and credible information to retirement plan participants and Americans as a whole. Some have specific suggestions for how the Social Security Administration can work more closely with defined contribution plan providers to help educate plan participants about the Social Security system and how Social Security benefits may serve as a critical component of their retirement income." (Financial Literacy Center)
Beware of Strategies to Take Advantage of Lower Social Security Tax Rates
"If the 4.2% rate is not extended for the whole year and you receive compensation income (e.g. salary, bonus, stock compensation) in January and February that exceeds $18,350 (a sixth of the Social Security wage base of $110,100), you face some type of recapture for the 2% lower rate." (myStockOptions.com)
Understanding the Three Main Pillars That Create the Foundation for Retirement in the U.S.
"The Three Pillars: In our opinion, those pillars consist of Medicare, Social Security and Retirement Plans. Each of these pillars is complex in its own right." (Seeking Alpha)
Are Federal Buyout Incentives Worth Taking?
"For workers who are not planning an imminent retirement already and for those enrolled in the Federal Employees Retirement System -- which is the bulk of the government workforce -- taking a buyout can mean losing more money over time." (Government Executive)
Estimating Social Security Benefits
"In a cost-saving move, Social Security has suspended the annual mailing of personal benefit estimates, which traditionally arrived a few months before each covered worker's birthday. To estimate future benefits, workers below retirement age now must rely on online calculators, such as the worksheet available at www.ssa.gov/estimator[.]" (BenefitsPro)
Three Pitfalls To Avoid When Retirement Planning
"For those who would like to plan ahead, there are multiple ways to help set yourself up for a secure retirement later. There are also traps that many fall into: Here are three of them to avoid." (Seeking Alpha)
Payroll Tax Cut Bill Includes Recapture Tax
"The [IRS] said the 'recapture' provision applies only to those employees who receive more than $18,350 in wages during the two-month period (the Social Security wage base for 2012 is $110,100, and $18,350 represents two months of the full-year amount). This provision imposes an additional income tax on these higher-income employees in an amount equal to 2% of the amount of wages they receive during the two-month period in excess of $18,350 (and not greater than $110,100)." (PLANSPONSOR.COM)
House Plays the Anti-Santa to Federal Workers
"The legislation would offset a one-year continuation of the payroll tax holiday in part by adding 12 months to the two-year freeze on federal employees' base pay. Employees also would have to pay more toward their retirement under the measure, which the House passed largely along party lines, with Republicans wearing the Grinch suits." (The Washington Post; free registration required)
[Official Guidance] Text of IRS Final Regs and Removal of Temporary Regs for Employer's Annual Federal Tax Return and Modifications to Deposit Rules (PDF)
"This document contains final regulations relating to the Employers'Annual Federal Tax Program (the Form 944 Program) and the requirements fordepositing social security, Medicare, and withheld Federal income taxes(collectively ''employment taxes'')." (U.S. Internal Revenue Service)
Tips for Baby Boomers Reaching Retirement Age in 2012
"In 2012, the oldest baby boomers will turn 66, an important age for Social Security eligibility. At 66, boomers can claim the full amount of Social Security they have earned, and the penalty for working and claiming Social Security benefits at the same time disappears." (U.S. News & World Report LP)
Payroll Tax Debate Dominates Capitol Hill Agenda This Week
"At issue is how to pay for the $112-billion cost of the tax break, which expires Dec. 31, even though rank-and-file Republicans are divided over whether the tax holiday should be continued into 2012." (Los Angeles Times)
'Benefits' Listed in 'Summary of Employee Benefits' for a Texas School District Are Questionable
"'There is a quirk in federal law that states individuals who do not contribute to Social Security but do have another retirement plan (such as a school employee's TRS retirement) cannot draw spousal Social Security benefits when their Social Security-eligible spouse dies.'" (The E.W. Scripps Co. via TimesRecordNews)
How Would President's Fiscal Commission's Social Security Proposals Affect Future Beneficiaries?
"The proposal's projected effects are particularly deep relative to current law scheduled for those reaching retirement in several decades. Projected benefit reductions relate closely to lifetime earnings: Lower earners are largely shielded, higher earners face significant reductions." (Urban Institute)
The Strengths and Failures of Incentive Mechanisms in Notional Defined Contribution Pension Systems
"Public pension systems based on the Notional Defined Contribution (NDC) principle were introduced during the '90s in Italy, Sweden and Poland, among other countries. They mimic private savings, in that individuals get back, as pensioners, what they contributed to social security during working life, plus returns. As such, NDC systems should realize actuarial equity and incentive neutrality." (Social Science Research Network)
Running Out of Money Top Retirement Concern Among Americans
"The survey also found 47% of respondents would keep working if they were unable to retire as planned. The next most pressing retirement concern was healthcare experiences (27%) and changes to Social Security that could lead to a reduction or delay in benefits (15%)." (PLANSPONSOR.COM)
How Do Subjective Mortality Beliefs Affect the Value of Social Security and the Optimal Claiming Age
"This paper investigates whether subjective mortality beliefs contribute to the prevalence of early claiming. The value of delay depends not only on life expectancy, but also on the degree of uncertainty surrounding the age of death." (Center for Retirement Research at Boston College)
Senate Democrats Propose Extending Payroll Tax Cut
"The bill would . . . reduce the Social Security payroll tax paid by employers on the first $5 million of taxable payroll to 3.1 percent from 6.2 percent." (The New York Times; free registration required)
Extension of Payroll Tax Break Possible Despite Political Differences
"Senate leaders plan a vote this week on the president's plan to cut the employee rate to 3.1% for 2012, while also cutting the employer rate to 3.1% on the first $5 million of wages paid in 2012. Republican opposition is expected, but lawmakers will look for a bipartisan way to pass relief." (Mercer LLC)
Focus on Social Security and Retirement
With a focus on the intersection between politics and economics, this item lists recent polls, reports, commentaries on the isssues. (The Fiscal Times)
Social Security Applications in Spanish Now Available on Website
"To make the process easier for Spanish speakers with limited English skills, the Social Security Administration has translated the applications for the following benefits: Retirement benefits . . . . Medicare benefits . . . . Prescription drugs benefits . . . ." (PLANSPONSOR.COM)
U.S. Equal Rights for Same-Sex Marriage Clears Hurdle
"By a 10-8 vote along party lines, [on November 10, 2011,] the Senate judiciary committee approved a bill entitling gay and lesbian spouses to the same Social Security, family welfare and income tax benefits as wedded straight couples." (Yahoo! Inc.)
How Much Do Means-Tested Benefits Reduce the Demand for Annuities?
"We find that the availability of means-tested benefits can reduce the desired annuitization levels substantially. Using individual level data, we show that the model's predicted annuitization rates as a function of the level of pension wealth are roughly consistent with the cash-out patterns of occupational pension wealth observed in Switzerland." (Social Science Research Network)
Social Security in an International Context
"[This discussion describes] how U.S. social security operates for multinational employers and employees, and how it currently coordinates with other countries' social security systems." (Pillsbury Winthrop Shaw Pittman LLP)
AARP Launches Social Security Benefits Calculator
"The calculator is part of AARP's new 'Ready for Retirement?' effort, a 10-step approach to envisioning and planning for a secure retirement, which includes creating a budget and preparing for the unexpected." (PLANSPONSOR.COM)
The links shown above have been gathered from the web by the editors at BenefitsLink.com. Each article's publisher is shown above in parentheses. Opinions expressed in each article are those of the article's publisher, not necessarily those of BenefitsLink.com, Inc. or any web site that displays these headlines in a "frame." You should contact the listed publisher for copyright information about any particular article or to inquire into the right to use the article in any manner.