The Social Security Fairness Act repeals two provisions that will give qualifying individuals more money and potential back payments. Here's what you should know.

The program’s finances could take another hit if some of the president’s tax proposals are passed. What to know about claiming early.

The Social Security Old-Age and Survivors Insurance (OASI) Trust Fund pays retirement, spousal, and survivors benefits. Before President Biden signed the Social Security Fairness Act into law, the OASI Trust Fund was expected to be insolvent by 2033, at which point only 79% of scheduled benefits would have been payable.

Social Security represents about 30% of the income of people over 65, with roughly a third of seniors relying upon their checks for at least half of their financial support. About 10% rely upon their benefits almost exclusively.

With the newest CBO estimate predicting the national debt will hit $52 trillion by 2035, Congress has two feasible options to protect current Social Security benefits without inflicting fiscal harm.

According to the Congressional Budget Office (CBO), the Social Security Old-Age and Survivors Insurance (OASI) trust fund reserves will be exhausted by the end of fiscal year (FY) 2033, while the combined Social Security trust funds (OASDI) will be insolvent by the end of 2034.

Social Security will still exist after 2035, according to the report. But without congressional action ... according to the Center on Budget and Policy Priorities. In addition to meeting its ...

Finally, Ramsey argues that a person can outperform the Social Security system by taking benefits as early as possible, at the age of 62, and investing the payments in an index fund. “You can get a better rate of return than they will pay you by waiting,” Ramsey said on the show.

Sterling Wealth Management's Sharon Allen and Daly Andersson answer Jana Wiersema's questions about the impact of the new Social Security Fairness Act.

The nonpartisan Congressional Budget Office released its latest 10-year budget outlook, which projected the U.S. is on track to break a notable debt record in just four years.

Social Security benefits would be cut by 22% unless new streams of revenues are found, according to Phillip Swagel, director of the Congressional Budget Office. "Time is running out," said Rachel ...

The Social Security cost-of-living adjustment for 2025 is the lowest since the post-Covid inflation spike. Yet retirees still face high prices.