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Streaming on ClickOnDetroit and Local 4+ from 7 a.m. to 8 a.m. weekdays.

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SOCIAL SECURITY


3 days ago

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.com

Social 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.com

Social Security bill would give seniors an extra $2,400 a year. Here's how it would work.

Some lawmakers want to revise the retirement program to shore up its funding and boost benefits for its 69 million recipients.

cbsnews.com

Food stamps, credit card debt: Record high inflation forces some older Americans to make tough financial choices

Older Americans who rely on Social Security for income have been forced to make some tough financial choices amid record high prices.

cnbc.com

Social Security bill would give seniors an extra $2,400 a year. Here's how it would work.

Some lawmakers want to revise the retirement program to shore up its funding and boost benefits for its 69 million recipients.

cbsnews.com

These 10 states have been hit hardest by Social Security staffing cuts, contributing to long waits for customer service

New data shows which states have been hit hardest with regard to Social Security staff losses and declines in disability services.

cnbc.com

Money Minute: Breaking down Medicare -- what you need to know

For the next few weeks, we’re going to discuss the elements of Medicare and what you need to know before signing up.

Bernie 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.com

Sanders, Warren propose bill to extend Social Security's solvency for 75 years, increase benefits by $2,400 per year

A new Democratic plan calls for repairing Social Security's trust funds by raising taxes on the wealthy, while also making benefits more generous.

cnbc.com
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Uvalde survivor and victim's parents deliver emotional testimony at House hearing on gun violence

Miah Cerrillo, a 4th grader at Robb Elementary School, recalled smearing herself in a classmate's blood to appear as if she were dead.

cbsnews.com

Here are the changes Americans are willing to make to fix Social Security, survey finds

Time is ticking as to how long Social Security will be able to pay full benefits. A new survey lets voters decide how they would fix the program.

cnbc.com

Money Minute: Understanding the basics of Medicare

For the next few weeks, we’re going to discuss the elements of Medicare and what you need to know before signing up.

Ready to buy muni bonds again? Consider this hidden tax before piling in

If you're buying municipal bonds, the interest may trigger higher Medicare premiums. Here's what to know before piling in.

cnbc.com

Social 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.com

Go-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.com

Money Minute: Medicare sign-up issues to know about

For those of you who are signing up for Medicare this year, it's important to know that the sign-up process is complicated, especially this year.

Your Social Security check might be taxed. Here's how that could change

It may come as a surprise that your Social Security income may be taxed. Here's how those levies work, and how Congress may change them with future reform.

cnbc.com
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Is a Recession Coming? Beware of This Indicator

Unemployment claims might not be a reliable measure of actual layoffs.

washingtonpost.com

Struggling to pay your bills in retirement? These resources can help

Many Americans retire without enough savings. These resources can help them make ends meet.

cnbc.com

Here's one way Social Security could better address life expectancy for couples

A spouse's death can cause a devastating loss of income for their partner. Social Security benefits may be adjusted to help pare those losses, research finds.

cnbc.com

Liam and Olivia once again dominate top baby names list

Olivia and Liam are once again America’s most common baby names.

Op-ed: Money decisions by women will shape the future for the U.S.

As women begin to control ever more of household assets in the U.S., financial services firms must adapt to find betters ways to meet female clients' needs.

cnbc.com

Bipartisan bill aims to update rules for federal benefits for elderly, disabled

Supplemental Security Income benefits for the disabled, blind and elderly have strict asset limits. Now, two senators want to raise those caps.

cnbc.com

Wages up to $147,000 are currently taxed for Social Security. How that could change

Making higher earners pay more into Social Security is a popular idea with many Americans. Here's how such a change could work.

cnbc.com

Just 1% of people aced this quiz on Social Security retirement benefits. Why you should test your knowledge before you claim

Deciding when to start receiving monthly Social Security checks is a time sensitive, high stakes decision. Why what you don't know can hurt you.

cnbc.com

Supreme Court decision may hurt Puerto Rico residents who need access to federal disability program, expert says

Efforts to expand Supplemental Security Income benefits to U.S. territories suffered a setback on Thursday.

cnbc.com
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Flint 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.com

Next 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.com

As inflation continues to squeeze Americans, here are 3 ways retirees can cope with higher prices

Consumer prices jumped 8.5% in March from a year ago. Here's how retirees can cope with higher prices amid rising inflation.

cnbc.com

Experts say women should plan to save more for retirement than men

When it comes to planning for retirement, experts are saying that women should plan to save more money than men do.

People who live on these government benefits live close to the federal poverty level. How reform could change that

Supplemental Security Income benefits place strict restrictions on what people can earn. Changing those rules could help lift beneficiaries' incomes.

cnbc.com

Sen. Mitt Romney suggests he'd back cutting retirement benefits for younger Americans

Romney appears to be open to making it harder for Gen Z and millennials to retire down the road. He wants to address the national debt.

news.yahoo.com

Social 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.com

These Social Security scams will try to steal your savings. Here's what to watch out for

Fraudsters prey on fear to get people to cough up money. Here's what to watch out for and how you can help stop these schemes.

cnbc.com

New York City will stop collecting Social Security money from children in foster care

New York City officials announced the city will no longer take all Social Security checks from children to pay for foster care. Last year NPR and The Marshall Project investigated the common practice.

npr.org
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Ask Rusty – I’m Confused About Taking Medicare and Social Security

Dear Rusty: I just turned 64 and now get stuff about Medicare and Medigap and so on. I really don't know how to retire when it's time.

news.yahoo.com

How Are Those Retirement Plans Going Now?

The economy keeps getting more volatile, but it’s not all bad. You just may need a different attitude about working in your golden years.

washingtonpost.com

Minnesota needs to end tax on Social Security: Letter

We count on Social Security, to which we have contributed since we started our careers, only to have it taxed

news.yahoo.com

Flint 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.com

Rick Scott walks away. Then McConnell dresses him down.

It was diplomatic from McConnell. But it was still brutal.

washingtonpost.com

Why 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.com

Today in History for February 27th

Highlights of this day in history: Germany's Reichstag burns, giving the Nazis under Adolf Hitler a pretext to seize absolute power; A cease-fire ends the Persian Gulf War; Actress Elizabeth Taylor born; Children's TV host Fred Rogers dies. (Feb. 27)

news.yahoo.com

Storm dumps snow across Colorado

A storm heading east dropped snow across wide swaths of Colorado on Feb. 16.

news.yahoo.com

Education Department suspends seizure of tax refunds, Social Security for overdue student loans until November

The federal government can seize certain payments to satisfy delinquent debts. The U.S. Department of Education suspended the practice until after Nov. 1.

cnbc.com
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Social Security may be a ‘treasure trove’ of wealth for you and your family. But first you have to navigate some complex rules

There are thousands of claiming rules for Social Security. Knowing the ins and outs for your situation can help make your whole family wealthier.

cnbc.com

66-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.com

A 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.com

Regretting That Early Retirement? I’ve Got Bad News.

Many older workers were forced off the job during the pandemic. Here’s what they need to know before going back.

washingtonpost.com

The 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.com

Divorced? You can collect Social Security benefits from an ex-spouse. Here's how

You may be able to collect Social Security benefits based on your ex-spouse's work record. But you have to reach a key anniversary date before you're eligible.

cnbc.com

Social Security’s cost-of-living adjustments spark debate about the appropriate measurement used

Some lawmakers and Social Security advocates are hoping to change the way the program's annual cost-of-living adjustments are calculated.

cnbc.com

Latin America’s New Economic Model May Emerge in Chile

Once the region’s no-frills, free-market poster child, Chile needs more government spending, not less, to sustain its growth trajectory.

washingtonpost.com

Karen Ferguson, founder of pension watchdog group, dies at 80

She founded the Pension Rights Center to monitor corporate pension funds and helped draft legislation to protect retirees.

washingtonpost.com
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2022 Social Security payment schedule: When to expect checks

The Social Security Administration has released the 2022 calendar that shows when to expect payments.

Here's how much investing an extra $1,000 per month will equal for retirement, broken down by age

Investing $1,000 per month until you retire could maybe make you a millionaire if you begin saving early. Here's a case study.

cnbc.com

How record Social Security cost-of-living adjustment will be impacted by high inflation, Medicare premiums

Retirees who are already contending with higher prices for food and health care may not cheer when they receive their Social Security checks in January.

cnbc.com

Medicare urged to flex its power and slash back premium hike

The head of a Senate panel that oversees Medicare says the Biden administration should cut back a hefty premium increase soon to hit millions of enrollees.

Sunday Read: Social Security recipients to get boost as rising costs continue

Starting next year (2022), you’ll get more money, a lot more, but it will be to cover rising costs. Here’s a closer look at what to expect.

EXPLAINER: Why Social Security COLA will jump next year

Rising inflation is expected to lead to a sizeable increase in Social Security’s annual cost-of-living adjustment, or COLA, for the year 2022.

EXPLAINER: Why the Social Security COLA is jumping next year

Rising inflation has triggered a jump in Social Security’s annual cost-of-living adjustment, or COLA, for 2022.

COVID recession pushed Social Security insolvency up a year

The sharp shock of the coronavirus recession pushed Social Security a year closer to insolvency but left Medicare’s exhaustion date unchanged, the government reported Tuesday.

Money Monday: Retiring soon? Do this first

If you’re planning to retire soon, there are some steps you should take before you file that paperwork.

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Most popular, hottest trending baby names of 2020

The Social Security Administration released the annual list of the top baby names, and there aren’t many changes -- the popular names remain popular.

Taxes: Answers to top FAQs about Social Security income

Even for those of us who think we have some knowledge about anything tax related, it can be a stressful time. And it's certainly not a time when you want to play a guessing game.

Retiree 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.

Social security study: What you need to know

The findings of this Social Security study were unsettling, to say the least. Copyright 2019 by WDIV ClickOnDetroit - All rights reserved.

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.

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