News Archive

"43 percent of individuals interviewed between ages 56-75 combined work and benefits for at least some period of time ... [T]wo-thirds of them claimed before the FRA -- typically right at age 62 -- while another 30 percent claimed between the FRA and age 69 -- typically right at the FRA. This pattern suggests different circumstances and different reasons for claiming."  MORE >>

"International experience suggests that fiscal crises often serve as catalysts for politically difficult but necessary retirement program reforms. Across advanced economies, rising debt burdens and economic shocks have forced governments to confront unsustainable retirement programs, often prompting benefit restraint and the adoption of automatic stabilizers to limit the need for future political intervention. The lessons from these international reforms are especially relevant for the United States, as Social Security's finances deteriorate and the costs of delay continue to mount."  MORE >>

"The trustees made changes to the intermediate assumptions in two primary areas: [1] Given the low level of the total fertility rate (TFR) in recent years, the trustees revised the year the ultimate TFR of 1.9 children per woman is reached from 2040, as stated in the 2024 Trustees Report, to 2050.... [2] The trustees reduced the assumed ratio of total labor compensation to Gross Domestic Product (GDP), also known as the labor share of output."  MORE >>

"Using the 75-year projection period understates the system's financial status if system revenues are expected to exceed system expenditures in years after the 75-year projection period. Because this was the approach used in 1983, the system benefits paid during last 42 years have been higher than actuarially supportable levels, system revenues should have been increased to support these benefits or some combination of lower benefits and higher revenues should have been adopted. It looks like future generations of beneficiaries and taxpayers will likely pay for this mistake."  MORE >>

40 presentation slides. Topics: [1] Social Security"s actuarial status: 2025 Trustees Report results;; [2] Main reasons for the worsening financial outlook over time; [3] What"s happened since the 2025 report was released? [4] How to eliminate the long-term actuarial deficit: individual changes and comprehensive proposals.  MORE >>

57 pages. "During this reporting period, OIG issued 31 audit reports, which included 9 reports that identified, in total, nearly $287 million in questioned costs and more than $819 million in funds put to better use.... During this reporting period, OIG's investigative efforts resulted in 332 indictments/criminal informations and 266 convictions and produced more than $194 million in monetary accomplishments, which includes court-ordered restitutions, recoveries, settlements, judgments, and estimated savings to SSA."  MORE >>

33 pages; For use in preparing 2025 Returns. "This publication explains the federal income tax rules for social security benefits and equivalent tier 1 railroad retirement benefits.... [It] covers ... [1] Whether any of your benefits are taxable. [2] How to report taxable benefits. [3] How much is taxable. [4] How to treat lump-sum benefit payments. [5] Deductions related to your benefits, including a deduction or credit you can claim if your repayments are more than your gross benefits."  MORE >>

"The size and location of additional assets expected to complement Social Security income should directly inform clients' claiming decisions. So should a client's projected longevity, with better longevity generally encouraging delayed claiming where possible.... [C]urrent retirees depend on Social Security for about 40% of income on average."  MORE >>

"[It's] hard to read an article about Social Security these days that doesn't proclaim the financial benefits of waiting till 70.... [M]any in the financial services industry ... are increasingly prone to labeling those who take those well-earned benefits 'on time' as being foolhardy at best ... [T]here's more to these types of decisions than 'the math' ... [S]ome people get so caught up in a slide rule exercise they forget that there are real, rational, personal reasons for the timing of the claiming decision."  MORE >>

"Although the 2.8% COLA is only 0.3% more than the 2.5% increase in 2025, it isn't far from the historical average. The COLA has averaged about 2.6% over the past 20 years. It went as low as 0.0% in 2016 amid declining prices, and as high as 8.7% in 2023 when inflation spiked after COVID disruptions."  MORE >>

"Social Security benefits, including Old-Age, Survivors, and Disability Insurance (OASDI), and Supplemental Security Income (SSI) payments for 75 million Americans will increase 2.8 percent in 2026.... [T]he maximum amount of earnings subject to the Social Security tax (taxable maximum) is slated to increase to $184,500 from $176,100."  [Also available: Fact Sheet which outlines all 2026 Social Security changes.]  MORE >>

"[T]here is no one-size-fits-all solution when it comes to filing for -- or changing -- your Social Security retirement benefits.... [1] Projecting your benefits; [2] Life expectancy and Social Security; [3] How marriage affects your benefits; [4] How to 'undo' your benefits; [5] Social Security planning and your overall financial picture; [6] Concerns about Social Security solvency; [7] Making an informed decision."  MORE >>

"Only 22% of Americans age 50-plus agree that 'a cost-of-living adjustment (COLA) of right around 3% for Social Security recipients is enough to keep up with rising prices,' while 77% disagree.... A follow up question asked what level of increase would be sufficient to help Social Security recipients afford everyday living expenses. Nearly three-quarters (72%) of older Americans selected 5% or higher, with one quarter (26%) indicating that an 8% increase would be necessary to keep pace with rising costs."  MORE >>

"The Social Security trust fund that is used to pay retirement benefits is expected to be depleted in 2033. Once the trust fund is depleted, retirees may only receive 77% of their benefit amount. It is widely believed Congress will make changes to the Social Security system before the trust fund is depleted. Finance experts say those changes shouldn't affect older workers, but younger workers could see reduced benefits and should start investing more for retirement."  MORE >>

36 pages; Sep. 29, 2025. "Following a brief description of each provision, [the authors] provide ... [1] the change in the 75-year long-range actuarial balance, [which] indicates the financial effect of the provision over the entire long-range (75-year) period.... [2] the change in the annual balance as of the 75th year, [which] gives an indication of the year-by-year expected gain or shortfall after the provision has been in place for a long period of time." [Detailed estimates for each category of change also available.]  MORE >>

"Public sector entities seeking exemption from Social Security must demonstrate that they comply with the requirement that they sponsor a pension plan whose benefits are 'comparable' to Social Security. The most common method of demonstrating compliance is to show that the plan benefits are equal to or greater than a safe harbor that was established in 1991. But does the safe harbor truly ensure that benefits are comparable?"  MORE >>

"[The Claiming Age Clarity Act (HR 5284)] seeks to provide clarity on when seniors can claim benefits for Social Security and modernize the terminology associated with it. It also hopes to deter future beneficiaries from claiming at an earlier age so individuals can maximize on their benefits."  MORE >>

"Since the 1990s, our retirement system has been based on three pillars: government benefits, pensions from employers, and additional private saving. This report redefines each pillar for the modern labor force and financial markets -- and it proposes adding a fourth.... As part of the second pillar, 401(k)s could provide retirees with stable income. Yet this option remains rare because of regulatory hurdles.... Reimagining the retirement system requires adding a fourth pillar: working into retirement.... [R]ight now, obstacles -- on both the supply and demand side -- prevent many older Americans from working at all, even if they would like to do so."  MORE >>

"A more practical framework begins with the expected real return of the portfolio used to bridge the delay -- typically around 4%-5% for a balanced 60/40 allocation. Unless a retiree has specifically earmarked more conservative assets, such as a bond or a TIPS ladder, it's realistic to assume that delayed benefits will be funded by withdrawals from the overall portfolio -- meaning that the 'cost' of delayed filing is the growth foregone on the assets withdrawn to replace Social Security income."  MORE >>

"With one month of consumer price data left to go, it appears that the annual Social Security cost-of-living adjustment (COLA) will increase from its 2025 level ... The Senior Citizen's League (TSCL) predicts that the 2026 COLA will be 2.7%, while Mary Johnson, who is a retired Social Security and Medicare policy analyst, predicts that it will be 2.8%. This is compared to last year's adjustment of 2.5% and a 2024 adjustment of 3.2%."  MORE >>

"[A]dding ESI would raise payroll taxes by about $400 per year on average and reduce Social Security's 75-year shortfall by about 25 percent. This option is somewhat regressive -- as it would collect no additional taxes from earners above the wage cap -- but it could be part of a larger reform package."  MORE >>

"The Protecting and Preserving Social Security Act [HR 4968] would use the Consumer Price Index for the Elderly, or CPI-E, to calculate the relevant cost-of-living adjustment and phase out the cap on Social Security contributions over the next seven years."  MORE >>

"Retirees are likely to see only a modest rise in Social Security benefits next year ... The Senior Citizens' League (TSCL) has raised its prediction to 2.7% in July from 2.6% in June based on creeping inflation rates. The TSCL has raised its projection by 0.1% every month since its estimate for March[.]"  MORE >>

62 pages. "[T]his report ... illustrate[s] how this social safety net plays a vital role in helping Americans achieve a more secure retirement. The report examines people's beliefs, expectations, and reliance on Social Security. It also sheds light on their views on how to address its funding shortfalls."  MORE >>

"[T]he longer people live ... the more expensive the program.... Trustees Reports in the next few years may well show larger 75-year deficits in the coming years. Even with higher projected deficits, however, the levers are available on both the revenue and benefit side to restore balance. Congress just needs to act."  MORE >>