Just when the Social Security Agency finally had a progressive, engaged commissioner in former mayor of Baltimore and governor of Maryland, he’s gone. Effective November 29th Martin O’Malley is resigning to run for chairman of the Democratic National Committee. Among other positive changes made during O’Malley’s all too brief tenure as commissioner was modification of…
The annual cost of living adjustment (COLA) for more than 72.5 million Social Security and SSI recipient for 2025 will be 2.5% as inflation comes under control. The COLA for 2024 was 3.2%. The average retiree will receive $48 more per month next year. The earnings limit for workers younger than full retirement age will…
Summer 2021 Newsletter STILL STANDING…AND PRACTICING I published the first issue of Social Security & You in Spring of 1993. Some years I’ve published more issues than others. The most recent issue was dated Spring 2019: over 2 years ago. The world was a much different place then. Especially for me. Read the full newsletter…
Spring 2019 Newsletter An Opioid Story I’ve changed his name. Let’s call him Gerald. He was a laborer. And by that I don’t mean that he just did physical work. He was a card-carrying member the Labor’s Union local. And that meant a lot to him. I represented him for Social Security disability and Michigan…
The Social Security Board of Trustees issued its annual report on June 2, 2022. The combined asset reserves of the 2 trust funds (Old-Age and Survivors Insurance and Disability Insurance) are projected to become depleted in 2035, one year later than last year. Social Security could pay 80% of benefits due at that time.
Individually, the OASI fund is projected to become depleted in 2034, one year later than last year’s estimate, with 77% of benefits payable at that time.
The DI trust fund is not projected to be depleted during the 75 year projection period.