New report warns of a 22% benefit cut by 2032
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The 2027 Social Security COLA will increase the benefit you're entitled to, but that's not the same as increasing your take-home benefit. For seniors enrolled in Medicare, your take-home benefit is the amount you qualify for minus your Medicare Part B premium, which also changes annually.
Social Security payments up to $5,181 arrive this week, with June 17 checks for those born between the 11th and 20th.
As inflation climbs, Social Security beneficiaries may see a higher cost-of-living adjustment in 2027. Here's which costs spiked most over the past 12 months.
All told, 2032 could become a defining year for Social Security. Whether you're already collecting benefits or are years away from retirement, preparing now could help ensure that you're better positioned for whatever changes may lie ahead.
Social Security's 75-year funding gap just jumped to 4.42% of taxable payroll after trustees abandoned their baby boom forecast.
Martin O'Malley said lawmakers should "scrap the cap" on income subject to Social Security taxes.
Social Security’s funding gap is getting harder to ignore, but experts say the right mix of changes could still reshape its future for workers and retirees.
Social Security recipients could receive a larger cost-of-living adjustment in 2027 than they received in 2026, but advocates say the increase still may not be enough to keep up with everyday expenses.
