Social Security

Kevin Soyt, Robert Hamilton and Dave Bayer participate in a water aerobics class in the John Knox Village Continuing Care Retirement Community pool on Oct. 15, 2021 in Pompano Beach, Fla. The Social Security Administration announced the largest cost-of-living adjustment in decades: 8.7%.

Economy

High inflation leads to the biggest raise in Social Security in more than 40 years

12:56pm October 13, 2022

by Scott Horsley

Retirees and others who rely on Social Security will see a large boost in benefits next year, with the average benefit rising by $141 per month, as inflation stays above 8%.

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Kathy Stolz-Silvis was nine years old when her father died, making her and her siblings eligible for Social Security survivor benefits. But she didn't become aware of those benefits until decades later.

National

Decades after foster care, she learned she was owed benefits. Where did the money go?

5:01am July 22, 2022

by Alexandra Arriaga

After reading an investigation by NPR and the Marshall Project, former foster youth are asking what happened to their benefits — and the government isn't helping.

Susan DeFrance retired two years ago and moved to a mobile home park on the ocean to cut expenses. Now with inflation, she's worried about outliving her savings.

Inflation has many retirees worried about outliving their savings

8:13am February 19, 2022

by Chris Arnold

The highest inflation since the 1980s has many retirees scared. Their retirement nest eggs will be in peril if it persists over the long term.

Some consumers are wondering why President Biden is not doing more to counter surging prices across the economy.

Inflation is surging and people are hopping mad

10:39am November 13, 2021

by Scott Horsley

Inflation is the highest it's been in more than 30 years, imposing a financial burden on households and putting President Biden under pressure.

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In this Feb. 11, 2005 file photo, trays of printed social security checks wait to be mailed from the U.S. Treasury's Financial Management services facility in Philadelphia. The financial impact of the coronavirus pandemic on Social Security and Medicare i

National

A New Report Says The COVID Recession Has Pushed Social Security Insolvency Up A Year

12:40am September 01, 2021

by The Associated Press

The new projections in the annual Social Security and Medicare trustees reports indicate that the program will be unable to pay full benefits in 2034. Last year's estimated exhaustion date was 2035.

Anna Romero had to quit her part-time job during the coronavirus pandemic to care for her husband, Ivan, who has dementia.

Some Seniors Face Shrinking Nest Eggs As They Care For Loved Ones During Pandemic

2:33pm January 25, 2021

by Sally Herships

Many senior citizens entered their golden years with more debt than previous generations, and now they're struggling financially as they try to provide care for an ailing relative during the pandemic.

Once the rules for implementing it are worked out, a bill signed into federal law in December will eliminate the required five-month waiting period for diagnosed ALS patients to begin disability benefits, enabling quicker Medicare coverage as well.

ALS Patients To Gain Quicker Access To Disability Benefits And Medicare

5:00am January 20, 2021

by Michelle Andrews

Lou Gehrig's disease can take months to diagnose, then rapidly incapacitate patients, leaving many families bankrupt before disability payments and Medicare kick in. A recent law aims to change that.

President Trump signs one of four executive orders addressing the economic fallout from the pandemic in Bedminster, N.J., on Aug. 8. The Trump administration has given employers the option to stop collecting payroll taxes, but workers may have to repay th

Economy

The Payroll Tax Delay Is Here, But So Is Confusion About It

11:58am September 01, 2020

by Scott Horsley

Some employees will soon see a boost in take-home pay. The Trump administration has given employers the option to stop collecting payroll taxes. But workers may have to repay the money next year.

Queue Listen Now

Employers are supposed to stop withholding the payroll tax on Sept. 1. But companies need guidance from the IRS on exactly who is eligible to have their taxes suspended and how to keep track so those taxes can eventually be repaid.

Payroll Tax Delay To Boost Take-Home Pay, But Don't Spend It Yet

10:57am August 12, 2020

by Scott Horsley

President Trump has directed the Treasury Department to stop collecting payroll taxes this fall in an effort to boost workers' paychecks. But the move is temporary, and could spark headaches in 2021.

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Bob Orozco, 89, has been in fitness his entire adult life. He began working for the Laguna Niguel YMCA in 1984 and leads the Silver Sneakers Club, a free fitness program for Medicare beneficiaries. "I probably will work until something stops me," Orozco s

The New Realities Of Work And Retirement

9:23am October 02, 2019

by Ina Jaffe

People age 65 and older make up the fastest-growing group of workers in the U.S. Some want to work; some have to work — and their numbers are changing how we view retirement.