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Here are some of the most important changes to Social Security as of August 2022. Watch the Inflation Readings. Inflation plays a big role in determining how Social Security payouts change every year.
“Social Security is broke beyond belief,” Laurence Kotlikoff told The Brink, Boston University's research news website. “Its unfunded liability is $65.9 trillion — twice the size of ...
On top of the big jump in 2022, the Social Security Administration announced that the COLA starting Jan. 1, 2023, would be a whopping 8.7%. This increase is one of the biggest in history, and the ...
Social Security Fairness Act of 2019 S. 560: February 14, 2019 Sherrod Brown (D-OH) 38 Died in committee 117th Congress: Social Security Fairness Act of 2021 H.R. 82: January 4, 2021 Rodney Davis (R-IL) 305 Died in committee S. 1302: April 22, 2021 Sherrod Brown (D-OH) 42 Died in committee 118th Congress: Social Security Fairness Act of 2023 H ...
The number of Social Security program recipients is expected to increase from 44 million in 2010 to 73 million in 2030. [17] The present value of unfunded obligations under Social Security as of August 2010 was approximately $5.4 trillion.
Section 201 of the Social Security Act requires that the money in the trust funds be invested in interest-bearing debt securities issued and guaranteed by the federal government known as U.S ...
Sometime by the middle of the next decade, one of the trust funds that helps pay for Social Security will run out of money, leaving more than 20% of the program unfunded. Discover: 6 Things Social ...
Social Security payments for next year are going to be a little larger than this year's -- a total of 5.9% more, thanks to the largest cost-of-living adjustment increase in almost four decades....