By Vonda Vantil, Social Security Public Affairs Specialist Unfortunately, tragedy can strike without any warning. The loss of the family wage earner can be devastating both emotionally and financially. Social Security helps by providing income for the families of workers who die. Some of the Social Security taxes you pay go toward survivors benefits for workers and their families. The value of the survivors benefits … Continue reading Understanding Social Security Survivors Benefits
By Nicholas Goodman, MiCAFE Network Specialist at Elder Law of Michigan Losing your vision can be overwhelming and feel incapacitating, but there are many resources available so you can continue to live independently and enjoy your hobbies and favorite activities. In Michigan, the Bureau of Services for Blind Persons (BSBP) is under the purview of the Department of Licensing and Regulatory Affairs (LARA). The BSBP offers many … Continue reading Vision Loss and Tools for Independence
By Sandra Wisnewski, Director of the Mid-America Pension Rights Project at Elder Law of Michigan The Mid-America Pension Rights Project (MAPRP) assists clients with pension and 401(k) issues. There are no age or income restrictions and there is never a charge for services. The Pension Project works to find answers and solutions to your pension-related problem. Sometimes retirees are notified after retirement that the monthly … Continue reading (Mid-America Pension Rights Project): A Working-Class Program that Works to Solve Your Pension Problems
Via Forbes.com By Ashlea Ebeling The Treasury Department told off employers back in 2015: Lump-sum pension buyouts for retirees already in payout status are a no-no. In practice, employers stopped offering them, per Notice 2015-49, despite the fact that proposed and temporary rules never came out. Now, in a Trump-era twist, the Treasury Department has backtracked with Notice 2019-18, a retraction of intent to propose regulations on the topic: … Continue reading (Mid-America Pension Rights Project): Trump Treasury Backtracks On Lump-Sum Pension Rules Meant To Protect Retirees
By Vonda Vantil, Social Security Public Affairs Specialist If you are not self-employed, Social Security taxes are typically taken out of your paycheck automatically. You and your employer each pay a 6.2 percent Social Security tax on up to $132,900 of your earnings and a 1.45 percent Medicare tax on all earnings in 2019. You don’t have to do anything extra for the coverage you … Continue reading Social Security and Self-Employment
By Vonda Vantil, Social Security Public Affairs Specialist Planning and saving are core elements to a successful retirement. For over 80 years, Social Security has helped Americans achieve that goal. Each year, the American Savings Education Council and America Saves coordinate America Saves Week. The week is an opportunity for organizations to promote good savings behavior; and a great time for people to assess their … Continue reading Social Security and America Saves Week
Via Barrons.com By Elizabeth White I never thought it would happen to me. All my life—working at the World Bank, getting my M.B.A. at Harvard Business School, starting my own retail company—I thought of retirement as golfing in Florida (not that I really wanted to). Even after my business failed—taking most of my savings with it—I bounced back. I reinvented myself as a consultant and … Continue reading So, You’re Retired but Don’t Have Enough Money to Be Retired. Now What?