Social Security is a lifeline for many U.S. seniors, providing crucial financial support in retirement. The latest statistics reveal that retirees receive an average monthly benefit of $1,918.28, translating to an annual income of just over $23,000. For those yet to retire, knowing these figures is essential for effective retirement planning. Monthly and Annual Benefits … Read more
The next round of disability benefits is just around the corner, with the Social Security Administration (SSA) set to send a new Social Security Disability Insurance (SSDI) payment on July 24 for eligible recipients. Here’s a comprehensive look at the upcoming payments and what recipients can expect. July 24 SSDI Payment To receive the SSDI … Read more
In a significant move to rectify past payment errors, the Social Security Administration (SSA) has released over $900 million owed to disability beneficiaries. Announced in a government blog post on July 16, 2024, this initiative addresses the $901 million owed to Supplemental Security Income (SSI) recipients as of June 2024. SSI supports individuals over 65, … Read more
Have you heard the buzz about the potential for 2x stimulus payments for SSI, SSDI, SSA, and VA recipients? The anticipation is high as the fourth installment of the stimulus is expected soon. Many beneficiaries have already seen an increase in their monthly checks. If you’re still waiting, read on to know about the updates … Read more
With a 5.2% increase in Social Security maximum taxable earnings, seniors and other beneficiaries can look forward to higher benefits. This government-mandated adjustment provides an opportunity for recipients to better plan their finances. Last year, the Cost-of-Living Adjustment (COLA) was 8.7%, and many retirees benefited significantly. As always, beneficiaries must pay taxes on their total … Read more
The Social Security Administration (SSA) has announced important changes to the payment schedules for Supplemental Security Income (SSI) and Social Security benefits. These adjustments are set to take place in August and September, affecting millions of beneficiaries. Here’s what you need to know to stay updated and manage your finances effectively. August 1 For those … Read more
The Social Security Administration (SSA) recently announced a major payout to disabled beneficiaries. In a blog post dated July 16, the SSA revealed that as of June 2024, they have disbursed $901 million in back payments to Supplemental Security Income (SSI) recipients. SSI Explained Supplemental Security Income (SSI) is a program designed to assist individuals … Read more
Knowing changes in Social Security can be tricky, and the latest update from the Social Security Administration (SSA) might leave some beneficiaries and workers scratching their heads. The SSA has announced a mandatory shift to a new login portal for online account users, aimed at enhancing security and aligning with other government service portals. Who … Read more
Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) are vital programs administered by the Social Security Administration (SSA). These programs are designed to provide financial support to eligible individuals, particularly those who are disabled or have limited income. As the cost of living continues to rise, these benefits often undergo adjustments to help … Read more
Today, many beneficiaries of the Retirement, Survivor, and Disability Insurance (RSDI) program will receive their new Social Security payment. To be eligible for these monthly benefits, claimants must have applied after May 1997 and be born between the 11th and 20th. On average, retired workers can expect $1,900, while those receiving Social Security Disability Insurance … Read more