All articles tagged with #retirement benefits
Originally Published 12 days ago — by Axios
Social Security benefits for 2026 will increase by 2.8%, affecting over 75 million Americans, with payments starting in January. While benefits rise, higher Medicare premiums and new tax deductions will influence retirees' net income. The average benefit for retired workers will increase to $2,071, and a new $6,000 tax deduction for seniors will be available through 2028.
Originally Published 27 days ago — by Yahoo Finance
Social Security benefits will see a historic 2.8% COLA in 2026, the highest in 40 years, driven by inflation exacerbated by President Trump's tariffs, but this increase may still not fully offset rising housing and medical costs for retirees.
Originally Published 1 month ago — by Axios
Social Security's trust fund is projected to be depleted by 2033, risking significant benefit cuts unless Congress takes action. The issue stems from demographic shifts and a declining ratio of workers to retirees, creating a political challenge as solutions like tax hikes, benefit cuts, or funding from general revenues face opposition. While the problem is urgent, current political will suggests that some form of the program will persist, but the path to sustainability remains contentious and uncertain.
Originally Published 2 months ago — by TheStreet
Dave Ramsey and AARP warn Americans about the implications of claiming Social Security early, highlighting how working while receiving benefits can reduce monthly payments due to income limits, but benefits are restored at full retirement age; Ramsey suggests early claiming may be suitable for those with health issues or who don't rely on benefits for daily expenses, emphasizing Social Security as a supplement, not a complete retirement plan.
Originally Published 2 months ago — by Yahoo Finance
The 2026 Social Security COLA is set at 2.8%, increasing average benefits by about $56 for retirees, with the highest dollar boosts in 10 states due to differences in median benefits and earnings, despite uniform percentage increases across all states.
Originally Published 2 months ago — by The Motley Fool
The 2026 Social Security cost-of-living adjustment (COLA) is set at 2.8%, increasing average benefits by about $56, with the highest dollar boosts in 10 states like New Jersey and Connecticut, due to higher median earnings, despite the uniform percentage increase across all states.
Originally Published 2 months ago — by Yahoo Finance
The 2026 Social Security cost-of-living adjustment (COLA) will be 2.8%, increasing benefits by about $56 monthly on average, but some retirees may see less due to higher Medicare Part B premiums, which are projected to rise to $206.50 in 2026.
Originally Published 2 months ago — by AOL.com
Most Americans, about 90%, choose to claim Social Security benefits early despite expert advice to delay until age 70, due to factors like financial necessity, health, life circumstances, and personal preferences, making early claiming a strategic choice for many.
Originally Published 2 months ago — by Federal News Network
Starting January 2026, many federal retirees will see a 2.8% COLA increase in their Social Security and retirement benefits, though FERS retirees will receive a smaller 2% increase due to specific adjustment formulas. The increase aims to keep benefits aligned with inflation, but some argue it doesn't fully cover rising costs like health insurance premiums. The announcement was delayed due to a government shutdown, and the actual benefit increases vary based on the type of retirement plan.
Originally Published 3 months ago — by The Motley Fool
The upcoming 2026 Social Security COLA is expected to be above average, potentially around 2.7% to 2.8%, influenced by President Trump's tariff policies which have modestly increased inflation. However, higher Medicare Part B premiums and the CPI-W index's limitations may offset these gains for retirees, making it a complex scenario for beneficiaries.
Originally Published 3 months ago — by AL.com
The 2026 Social Security Cost of Living Adjustment (COLA) is projected at 2.0%, potentially increasing benefits by about $54 per month for the average retiree, with retirees in states like New Jersey, Connecticut, and Delaware receiving the largest raises due to higher median incomes. The announcement of the COLA has been delayed due to data collection issues caused by the government shutdown, but it is expected to be released before November 1.
Originally Published 3 months ago — by The Motley Fool
The 2026 Social Security COLA is forecasted to increase benefits by 2.7%, with retirees in states with higher median incomes, such as New Jersey and Connecticut, receiving the largest dollar increases, although state residence does not directly affect benefit amounts. The benefits are indirectly influenced by lifetime earnings, which tend to be higher in wealthier states.
Originally Published 3 months ago — by AL.com
A 2.7% Cost of Living Adjustment (COLA) is expected for Social Security recipients in 2026, increasing the average monthly benefit by $54, but much of this increase may be offset by higher Medicare premiums, which are projected to rise by 12%.
Originally Published 4 months ago — by CBS News
A new estimate suggests that Social Security beneficiaries could see a 2.7% cost-of-living adjustment in 2026, slightly higher than 2025, but economists warn this may not fully offset rising inflation and increased Medicare premiums, potentially diminishing the benefit increase for retirees.
Originally Published 5 months ago — by Fortune
Social Security is projected to face insolvency by 2032, leading to potential benefit cuts of around $18,000 annually for retirees, unless Congress takes action to address the funding gap, which has been warned about by Warren Buffett and the CRFB.