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A struggling union pension fund for more than 22,500 metro Detroit carpenters and millwrights is getting a $635 million federal bailout, saving retirees from big cuts to their pension checks next ...
Based on recent projections, Social Security faces cuts as early as 2035. A broad reduction in benefits could thrust countless seniors into poverty. Lawmakers have options for steering Social ...
The problem, though, is that even without benefit cuts, Social Security will only replace about 40% of the average earner's pre-retirement wages. And most people need a lot more income than that ...
Image source: Getty Images. Social Security benefits get a 2.5% cost-of-living adjustment (COLA) in 2025. Social Security recipients get annual cost-of-living adjustments (COLAs) to protect the ...
Both restrict Social Security benefits for public-sector pensioners — and in some cases, people have even had benefits taken away. Social Security Cuts: States That Would Be Impacted the Least
Social Security is a very fluid program that undergoes frequent changes that can impact your monthly benefit payments -- for good or for ill. Some of these changes are already built into the ...
The Social Security Fairness Act makes it possible for those who opted out of Social Security at some point during their career to receive more retirement benefits. It does this in two ways.
The most recent Social Security Trustees Report puts the timing of those benefit cuts at 2035, which is when the program's combined trust funds are expected to be depleted. Clearly, that's not ...