Pennsylvania woman hid grandmother’s body in freezer for decade, used Social Security money
A York County woman could spend nearly two years in jail after she kept her grandmother’s remains in a freezer for more than a decade, during which she received the dead woman’s Social Security checks. At the time, she was using the grandmother’s federal social security payments to cover the mortgage. In all, state police said Social Security paid $186,000 for Delahay from 2001 to 2010, including several years after her death. Under Pennsylvania law, restitution against a federal agency could not be collected in a state court, the defense argued. According to court dockets, Black was ordered to report to York County Prison on July 15.
mlive.comSocial Security bill would give recipients an extra $200 per month
“One of my highest priorities is protecting Social Security, which millions of Americans rely on, including hundreds of thousands of Oregonians. The Social Security Expansion Act would: • Extend the solvency of the Social Security trust fund 75 years, through 2096, by requiring the wealthiest Americans to pay their fair share into the fund, just like everyone else. • Expand Social Security benefits across-the-board for current and new beneficiaries. Under this bill, Social Security benefits for someone turning 62 next year would be $200 per month higher. • Combine the Disability Insurance Trust Fund with the Old Age and Survivors Trust fund to help senior citizens and persons with disabilities.
mlive.comBernie Sanders, Elizabeth Warren, and other Democrats want to pay retirees an additional $2,400 in their Social Security checks — by raising taxes on the richest Americans
The plan is very unlikely to draw GOP support, given their resistance to tax increases to pay for expansions of benefit programs.
news.yahoo.comSocial Security, Medicare go-broke dates impacted by pandemic
Washington — A stronger-than-expected economic recovery from the pandemic has pushed back the go-broke dates for Social Security and Medicare, but officials warn that the current economic turbulence is putting additional pressures on the bedrock retirement programs. The annual Social Security and Medicare trustees report released Thursday says Social Security’s trust fund will be unable to pay full benefits beginning in 2035, instead of last year’s estimate of 2034. Social Security pays benefits to more than 65 million Americans, mainly retirees as well as disabled people and survivors of deceased workers. When the Social Security trust fund is depleted the government will be able to pay 80% of scheduled benefits, the report said. The trustees of Social Security and Medicare include the secretaries of Treasury, Health and Human Services, and Labor, as well as the Social Security commissioner.
mlive.comGo-broke dates pushed back for Social Security, Medicare
A stronger-than-expected economic recovery from the pandemic has pushed back the go-broke dates for Social Security and Medicare, but officials warn that the current economic turbulence is putting additional pressures on the bedrock retirement programs.
Watchdog opens probe into huge Social Security fines to poor, disabled
An independent watchdog this week opened a broad investigation into Social Security Inspector General Gail Ennis and her office following a Washington Post report that revealed massive penalties an anti-fraud program has imposed on disabled and elderly people.
washingtonpost.comFlint man pleads to defrauding banks of $201K to buy 15 vehicles
The plea agreement states that between December 2019 and February 2020 Hendrickson and another unnamed person devised a scheme to defraud numerous banks and credit unions. To do this, Hendrickson acquired the Social Security number of a man who had a similar name as his own. Hendrickson then used this pilfered Social Security number to obtain loans which he then used to finance the purchase of off-road vehicles, motorcycles, and trucks. On March 20, a Genesee County Sheriff’s lieutenant contacted the person whose Social Security number Hendrickson was allegedly using. Read more:Flint man used stolen Social Security number to obtain $201K and buy 15 vehicles, feds allegeMidland man killed in one-vehicle crash in Midland CountySaginaw man pleads to accidentally shooting friend to death in 2020
mlive.comNext year’s Social Security hike could be record 8.9%, biggest in decades
Social Security recipients could see the biggest cost-of-living raise in four decades next year as inflation continues to rise. The Senior Citizens League estimated next year’s Cost of Living Adjustment could be as high as 8.9%. The annual Social Security change is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers. If the 8.9% figure holds, it would be the biggest COLA since 1981 when recipients saw an 11.2% jump. The Social Security Administration will release the final numbers in October with any increase starting in 2023.
mlive.comSocial Security hike in 2023 could be even bigger than this year
Social Security recipients received their biggest cost-of-living increase in decades this year, but they could be set for an even bigger bump in 2023, according to one early estimate. Seniors and others receiving Social Security benefits could see their checks rise by as much as 7.6% next year, according to the Senior Citizens League, an advocacy group, CNBC said. Social Security’s cost-of-living hike for 2022 was 5.9%, the biggest increase since the 1980s. There’s a strong chance inflation will continue through 2022, but if price increases slow or subside completely, Social Security benefits would rise less. The Social Security Administration generally announces each year’s cost-of-living increase in October and it takes effect in January.
mlive.comFlint man used stolen Social Security number to obtain $201K and buy 15 vehicles, feds allege
On that day, Hendrickson used the stolen Social Security number and driver’s license to apply for an auto loan at Bay Cycle Sales in Bangor Township. · Jan. 14, 2020 — Hendrickson applied for an auto loan and Honda Powersports credit card at Genthe Power Sport in Southgate. He also bought a 2019 Honda motorcycle via a Honda Finance credit application, with the total loss being $17,637.32. · Feb. 18, 2020 — Hendrickson used his previously obtained Honda Powersports credit card to buy a 2019 Honda motorcycle from Nord-Ride Motorsports in Mt. On March 20, a Genesee County Sheriff’s lieutenant contacted the person whose Social Security number Hendrickson was allegedly using.
mlive.comWhy am I penalized for taking Social Security at 62?
The government did not contribute to my Social Security. Having a lower Social Security payment isn’t actually a penalty. First, Social Security benefits are based on an individual’s lifetime earnings. She said Social Security was designed to replace a portion of your wages. “Your payments are not actually held in an account for you but are used to pay benefits to those that have already retired,” she said.
mlive.com66-year-old retiree who left the U.S. for Mexico: 'Here's what you can buy here for $5 or less'
In Mexico, retiree and American expat Janet Blaser lives an affordable lifestyle, where she spends less than $160 on eating out and shopping. From groceries to transportation to fun activities, here's what $5 or less can get you in Mazatlán, Mexico.
cnbc.comA Harvard-trained economist says 'early retirement is one of the worst money mistakes'—here's why you'll 'regret' it
For most Americans, retiring early is one of the worst financial mistakes that they'll end up regretting, according to a Harvard economist. The reason, he says, is simple: People are bad at saving money.
cnbc.comThe Social Security Retirement Age Increases in 2022
While you can start Social Security payments at age 62, your monthly checks are reduced if you begin collecting benefits at this age. To claim your full benefit, you need to sign up for Social Security at your full retirement age, which varies by birth year.
news.yahoo.comRetiree checks to rise 1.3% in 2021 amid coronavirus fallout
WASHINGTON – Social Security recipients will get a modest 1.3% cost-of living-increase in 2021, but that might be small comfort amid worries about the coronavirus and its consequences for older people. The economic fallout from the virus has reduced tax collections for Social Security and Medicare, likely worsening their long-term financial condition. The former vice president would raise Social Security taxes by applying the payroll tax to earnings above $400,000 a year. That amount generally increases, so at least some of any additional Social Security raise goes to health care premiums. That prompted Congress to pass recent election-year legislation that limits next year’s premium increase but gradually collects the full amount later on under a repayment mechanism.
IRS launches ‘Get My Payment’ website to help with stimulus payments
The IRS has launched a “Get My Payment” website to help people track the status of their coronavirus stimulus payment. The “Get My Payment” website is aimed at helping you:Check your payment statusConfirm your payment type: direct deposit or checkEnter your bank account information for direct deposit if we don’t have your direct deposit information and we haven’t sent your payment yetIf you need to let the IRS know about your new address, go here. The IRS is expected to make about 60 million payments to Americans through direct deposit for people who used direct deposit on their 2018 or 2019 tax returns. This will include Social Security beneficiaries who filed federal tax returns that included direct deposit information. These payments will be made to Social Security beneficiaries who did not file tax returns in 2018 or 2019 and receive their Social Security benefits via direct deposit.
Here’s the expected timeline for direct stimulus payments to Americans amid coronavirus
DETROIT – Michigan Congresswoman Debbie Dingell released the expected timeline for direct stimulus payments made to Americans amid the coronavirus pandemic. The estimates are that nearly 99 percent of Social Security beneficiaries who do not file a return receive their benefits through direct deposit. The economic impact payment will be deposited directly into the same banking account reflected on the return filed. People who typically do not file a tax return will need to file a simple tax return to receive an economic impact payment. How long are the economic impact payments available?
Warren health plan departs from US 'social insurance' idea
That's different from the "social insurance" or shared responsibility approach taken by Democratic presidents like Franklin D. Roosevelt, Harry Truman and Lyndon Baines Johnson. The Warren campaign says the reason programs like Social Security and Medicare are popular is that benefits are broadly shared. Truman's plan for universal health insurance did not pass, but it would have been supported by payroll taxes. "If you look at the two core social insurance programs in the United States, they have always been financed as a partnership," said William Arnone, CEO of the National Academy of Social Insurance, a nonpartisan organization that educates on how social insurance builds economic security. Under Warren's plan, nearly $9 trillion would come from businesses, in lieu of what they're already paying for employees' health care.
FTC reports sharp increase in phone scams
Americans have forfeited at least $450 million this way to government impostor scams since 2014, the FTC said and that only counts the victims regulators know about. Government impostors became the number one source of FTC complaints and now account for the lion's share of impostor scams overall. "Toward the fall, we started to see these scams really, really pick up." Thousands of consumers who reported the scam this year told the FTC they lost money. Last week, the FTC, Justice Department, and various states and local authorities brought nearly 100 cases against alleged robocallers.