Blog
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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…
a month+ ago -
On 8-27-24, the Social Security Administration announced a large step in a multi-year effor to simplify processes for people who are applying for Supplemental Security Income (SSI) by starting to offer an online, streamlined application for some applicants starting in December. SSI provides monthly payments to people with disabilities and older adults who have little…
2+ months ago
News
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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…
3+ years ago -
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…
5+ years ago
2024 SOCIAL SECURITY & MEDICARE TRUSTEE REPORT
The annual report of the Social Security & Medicare Trustees has a bit of good news. Due to the strong economy, low unemployment & wage growth the insolvency date for the combined retirement and disability trust funds is up a year to 2035.
Without changes the benefits payable at that time would be 83% of what’s been promised. In other words, benefits would be reduced 17%.
For about half of seniors Social Security supplies at least 50% of their income. For 25% of seniors Social Security accounts for at least 90% of their income.
Proposed fixes include bumping up payroll taxes from the 12.4% split 50-50 by employees and employers, raising the retirement age for younger workers, adding a means test or raising the cap on how much of a worker’s income is subject to Social Security tax. The current limit is $168,600 per year.
Call today if you have questions about the Michigan Social Security Disability Attorney and Lawyer Services provided by William Crawforth.
To schedule an appointment call 800-864-1244 or fill out the contact form at the top of this page.
