Beware of Social Security Scams

By Vonda Vantil, Social Security Public Affairs Specialist There’s a widespread telephone scam involving callers claiming they’re from Social Security. The caller ID may even show a government number. These callers may tell you there’s a problem with your Social Security number. They may also threaten to arrest you unless you pay a fine or fee using gift cards, pre-paid debit cards, a wire transfer, … Continue reading Beware of Social Security Scams

Small Businesses and Social Security

By Vonda Van Til, Social Security Public Affairs Specialist According to the U.S. Small Business Administration, the 28.8 million small businesses in the United States represent 99.7% of all U.S. businesses, and employ 56.8 million people. Running a small business can be a 24-7 endeavor. Managing employees, inventory, scheduling, services, and marketing can be challenging. If you are a small business owner or you work … Continue reading Small Businesses and Social Security

Mid-America Pension Rights Project: Defined Benefit Pension vs Defined Contribution 401(k): Part 1

By Christine Steinmetz, Pension Attorney at the Mid-America Pension Rights Project at Elder Law of Michigan Do you ever wonder if you have saved enough for retirement? There are so many online calculators, articles, and books written on this very issue. You save and expect your retirement to go smoothly. However, many people retire and realize that they have not saved enough. Recently, General Electric … Continue reading Mid-America Pension Rights Project: Defined Benefit Pension vs Defined Contribution 401(k): Part 1

Senior Community Service Employment Program

By Betsy Smith, Network Shareholder and Partner Manager at Elder Law of Michigan There is a recent trend of older adults who are retired but continue to work regularly. Working after retirement can be beneficial for seniors for both financial and health reasons. Many seniors have some savings but may be worried that it’s just not enough. Working part-time will help bridge the gap and … Continue reading Senior Community Service Employment Program

Do you think your Medicare income-related premium is wrong?

By Vonda Van Til, Social Security Public Affairs Specialist Social Security cares about accuracy and we want you to get the exact benefit amount you deserve. Changes in the law affect how we calculate monthly Medicare Part B (medical insurance) and Medicare prescription drug coverage premiums. Medicare Part B provides coverage for physician services, outpatient hospital services, certain home health services, durable medical equipment, and … Continue reading Do you think your Medicare income-related premium is wrong?

(Mid-America Pension Rights Project): Annuity Use Is Expanding, But Knowledge Is Limited, Advisor Says

Via Financial Advisor By Karen Demasters Annuities are becoming mainstream even though knowledge about them among investors is still limited, said Len Hayduchok, president of Dedicated Financial Services and Dedicated Senior Advisors in Trenton, N.J. “Annuities used to be a limited product with only a small market penetration, but the addition of riders for income, death benefits and long-term-care benefits to provide clients more value … Continue reading (Mid-America Pension Rights Project): Annuity Use Is Expanding, But Knowledge Is Limited, Advisor Says

(Mid-America Pension Rights Project): The Mega Backdoor Roth IRA and Other Ways to Maximize a 401(k)

Via ThinkAdvisor By Jamie Hopkins The most popular workplace-sponsored retirement plan is far and away the 401(k) — a plan that can be both simple and complex at the same time. For some of your clients, it functions as a tax-deductible way to save for retirement. Others might see its intricacies as a way to maximize lifetime wealth, boost investments and minimize taxes. One such … Continue reading (Mid-America Pension Rights Project): The Mega Backdoor Roth IRA and Other Ways to Maximize a 401(k)

(Mid-America Pension Rights Project): Managing Inflation Risk in Retirement

Via Kiplinger.com By Kelly Lavigne, J.D. While there are many potential risks to consider when planning for retirement, one that is often overlooked is inflation. Most people factor in inflation when planning how much they will need when they reach retirement. But inflation does not stop the day you retire. In fact, your budget on the day you retire could look very different five, 10 … Continue reading (Mid-America Pension Rights Project): Managing Inflation Risk in Retirement