15 Social Security Stats That Will Blow You Away

Title: 15 Social Security Stats That Will Blow You Away

Article Snip: "...Social Security pays close to 61 million Americans about $918 billion in benefits annually. If that sounds like a heck of a lot, it is. But it's only about $15,000, on average, per person. 10: In order to qualify for Social Security benefits based on your earnings, you need to collect 40 credits, where a credit is represented by your earning of at least $1,260 (as of 2016) within a year, with up to four credits that can be earned per year. Thus, most of us can qualify simply by working for a decade. Even if you only worked half of each year, 20 years of working could qualify you..."

Reference: www.fool.com
social security,

Planning for a Delayed Retirement

Title: Planning for a Delayed Retirement

Article Snip: "...According to the Office of Personnel Management, the average retirement age for a federal employee between 2005 and 2014 was 60.2 years and average length of service was 27.8 years; 54 percent of those were age 60 or older; and half of retirees had 30 or more years of service..."

Reference: www.govexec.com
Data Sources, Retirement Data, Retirement, Average Retirement Age, Delayed Retirement,

White House Throws Weight Behind Cutting Feds’ Retirement, Health Benefits

Title: White House Throws Weight Behind Cutting Feds’ Retirement, Health Benefits

Article Snip: "...Chaffetz said he would protect employees already vested in their pensions, saying he did not want to “unduly scare” an employee already on the job for seven years and it would be “difficult” to go after existing workers’ retirements. Chaffetz also said his committee is considering ways to shrink the size of the federal workforce..."

Reference: www.govexec.com

When can I expect my 1099-R?

Title: Know when to expect your 1099R

Article Snip: "...You need a Form W-2 to file with your return. Not so with Forms 1099. In contrast to Forms W-2, you don’t file Forms 1099 with your return. Forms 1099 remind you that you earned interest, received a consulting fee, or were paid some other kind of income. There are many varieties, including 1099-INT for interest, 1099-DIV for dividends, 1099-G for tax refunds, 1099-R for pensions and 1099-MISC for miscellaneous income. These forms are sent by payors to you and the IRS..."

Reference: www.forbes.com
1099-R, 1099, 1099-MISC,

2017 Social Security COLA to be nearly wiped out by out-of-control Medicare Part B premiums

Title: Social Security Recipients Will Get Less than a $4 Increase next Year

Article Snip: "...The average monthly Social Security payment is $1,238. That translates into a monthly increase of less than $4 a month. More bad news for seniors: Medicare Part B premiums, which are usually deducted from Social Security payments, are expected to increase next year to the point in which they will probably wipe out the entire COLA..."

Reference: fortune.com
COLA (2017), Social Security, average monthly Social Security payment is $1,238 (as reported in 2016 article), Obama Legacy, Medicare Part B premiums, destruction of the American working class,

Best day to retire, when’s your magic moment?

Title: Best day to retire, when’s your magic moment?

Article Snip: "...Benefits expert Tammy Flanagan says that although many tend to concentrate on the December-January magic dates, there are other best dates too. She is with the National Institute of Transition Planning , and a regular columnist for Government Executive. She points out that there are different “best dates” depending on which retirement system you are under. ..."

Reference: federalnewsradio.com
best day to retire, Best Date to Retire,

Another Excuse To Take Away Your Social Security

Title: Another Excuse To Take Away Your Social Security

Article Snip: "...Bad enough that various left-wingers want to make Social Security “means-tested,” meaning that frugal workers who have saved for retirement get their government pensions clipped. Now we’ve got the Wall Street Journal offering up a case for short-changing retirees. At issue: The 8% boost you get..."

Reference: www.forbes.com
Social Security means testing,