A recent ruling from the Colorado Court of Appeals could have significant effects on how Social Security benefits are factored into alimony payments for retired individuals. The court determined that Social Security income may be used to calculate spousal support, effectively impacting retirees who depend on these benefits as a primary source of income. This … Read more
The expected cost-of-living adjustment (COLA) for Social Security recipients is projected to fall short of adequately addressing the financial challenges faced by America’s senior population. According to Certified Financial Planner Matt Frankel, the latest COLA estimate from the Senior Citizens League, recently adjusted from 2.57% to 2.63%, does not sufficiently meet the needs of seniors. … Read more
The Social Security Administration (SSA) is rolling out a new initiative to simplify access to benefits by introducing $2,000 debit cards for beneficiaries. These cards are designed to streamline the distribution of payments and ensure that recipients can access their funds easily and securely. Overview of the $2,000 Social Security Debit Cards The SSA provides … Read more
Next month brings a notable change in the timing of Social Security payments. The Social Security Administration (SSA) recently confirmed that recipients of Supplemental Security Income (SSI) will receive their September payments early, due to the first of September falling on a weekend. Normally, SSI payments are disbursed on the first of the month, but … Read more
The U.S. Federal Government offers various programs to assist individuals facing financial difficulties. Recently, rumors have been circulating about a new initiative under the Social Security Administration (SSA) that could potentially provide $258 per day to eligible individuals starting in August 2024. While no official confirmation has been released, many are eager to learn more … Read more
The Social Security Administration (SSA) recently announced that recipients of Supplemental Security Income (SSI) will receive an additional payment in August. This extra payment is part of the SSA’s standard procedure when regular payment dates fall on a weekend or federal holiday, ensuring beneficiaries receive their payments in a timely manner. For August, this means … Read more
The Social Security Administration (SSA) is responsible for issuing monthly payments to millions of beneficiaries across the United States. These payments are primarily directed toward retired workers, individuals with disabilities receiving Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI), and their dependents. The amount each beneficiary receives is determined by several factors, including … Read more
The U.S. Congress has recently requested detailed information from the Social Security Administration (SSA) regarding its use of artificial intelligence (AI) in determining applicants’ eligibility and managing Social Security payments. This request, led by Senator Ron Wyden of Oregon and Senator Mike Crapo of Idaho, highlights growing concerns about the SSA’s adoption of AI technology. … Read more
This month, some retirees may notice reduced Social Security checks, affecting their monthly income. If you qualify for retirement benefits, it’s essential to understand the reasons behind potential payment reductions, as these changes can significantly impact your financial planning. By being informed, you can better manage your budget and make necessary adjustments. Below, we’ll explore … Read more
A recent Colorado Court of Appeals ruling has the potential to reshape how Social Security benefits are treated in alimony calculations. This decision could have a significant impact on retirees and those receiving Social Security benefits, particularly when it comes to determining spousal support obligations. The ruling clarifies that Social Security benefits can be considered … Read more