2023 was a peculiar year as the world gradually emerged from the pandemic, grappling with residual health and economic challenges. Amidst these issues, retirees received a significant cost-of-living adjustment (COLA) of 8.7%, the largest in four decades, to help offset inflation. However, the 2024 COLA saw a much smaller increase of 3.2%, more in line … Read more
The U.S. Department of Agriculture (USDA) has announced that eligible households in certain states could receive substantial SNAP benefit payments, exceeding $3,000, within the next ten days. These food stamp benefits are distributed based on various factors, such as case number, Social Security number, and family name. Each state has a specific monthly payment schedule … Read more
This month brings exciting news for some Illinois residents who may be eligible for a new economic stimulus check worth up to $500. This tax credit is specifically for volunteer emergency workers, acknowledging their essential contributions to the community. Here’s everything you need to know about this opportunity. What is VEW? The Volunteer Emergency Worker … Read more
If you are a Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI) beneficiary, knowing when you’ll receive your payments is crucial for managing your finances. The Social Security Administration (SSA) occasionally adjusts payment dates, which can affect your monthly budget. In 2024, there are notable changes in the payment schedule for June, August, … Read more
The Social Security retirement program delivers monthly benefits of over $1,900 to around 55 million retirees and survivors. On May 22nd, retirees born between the 21st and the 31st will receive their fourth Social Security benefit payment. These payments include the 3.2% cost-of-living adjustment (COLA) to help maintain retirees’ purchasing power. Inflation With inflation on … Read more
Today, May 31st, will not be the last Social Security payment for the month of May. The Social Security Administration has rescheduled the Supplemental Security Income (SSI) payment, typically made on the 3rd of June, to Friday, May 31st. As a result, millions of SSI recipients will receive their monthly benefits worth up to $1,415, … Read more
The Social Security Administration (SSA) has released the disability benefit payments for the month of May to eligible Social Security Disability Insurance (SSDI) recipients. This payment includes the 3.2% cost-of-living adjustment (COLA) increase to help offset the impact of inflation on disabled individuals’ incomes. SSDI Benefits SSDI benefits are designed to provide financial support to … Read more
For many American families, benefits are essential for survival, and one of the most crucial programs is the Supplemental Nutrition Assistance Program (SNAP). Despite its tailored approach to individual circumstances, SNAP benefits often fall short of covering all family needs. Therefore, knowing how to stretch these benefits to the last dollar is fundamental for improving … Read more
Where you live significantly influences your quality of life, especially if you rely on the fixed income provided by Social Security benefits. While the federal government taxes Social Security income for retirees who exceed a certain income level, most states do not independently tax these benefits. However, this is not the case nationwide, as 12 … Read more
Amid the challenging economic climate, states are taking proactive measures to improve their residents’ lives. Alaska is the latest to act, aiming to increase pensions for its 2 million Social Security recipients. This initiative addresses a significant issue: the Windfall Elimination Provision (WEP), which reduces benefits for workers with pensions from jobs that didn’t pay … Read more