Key Social Security Rule Changes Are Coming April 14. Here's What Retirees Need to Know.
Social Security is a lifeline for millions of Americans. The program dished out about $1.6 trillion last year to 69 million Americans -- 52 million of them retirees. While the program was originally meant to be just one part of a "three-legged stool" that included pensions and personal savings, Social Security has become the main financial support for many as traditional pensions have mostly disappeared and savings dwindled. One in seven retirees rely almost exclusively on the monthly checks.It's an important program, to say the least. Seniors are understandably sensitive to any changes to it. President Donald Trump campaigned on the promise to "not cut one penny from Social Security" and has so far kept his promise, at least for the benefits themselves.His administration is shaking things up at the Social Security Administration (SSA) in an attempt to cut admin costs. To start, the agency is shrinking its workforce and closing a number of offices. It's also pushing through a number of rule changes that retirees need to know about now.Continue reading
Social Security is a lifeline for millions of Americans. The program dished out about $1.6 trillion last year to 69 million Americans -- 52 million of them retirees. While the program was originally meant to be just one part of a "three-legged stool" that included pensions and personal savings, Social Security has become the main financial support for many as traditional pensions have mostly disappeared and savings dwindled. One in seven retirees rely almost exclusively on the monthly checks.
It's an important program, to say the least. Seniors are understandably sensitive to any changes to it. President Donald Trump campaigned on the promise to "not cut one penny from Social Security" and has so far kept his promise, at least for the benefits themselves.
His administration is shaking things up at the Social Security Administration (SSA) in an attempt to cut admin costs. To start, the agency is shrinking its workforce and closing a number of offices. It's also pushing through a number of rule changes that retirees need to know about now.
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