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Social Security

Social Security Fairness Act

on December 23, 2024 | By Joe Elsasser, CFP®, Founder and President of Covisum

The Social Security Fairness Act was passed by both the House of Representatives and the Senate. President Biden is expected to sign the bill into law. The Act repeals the Windfall Elimination Provisions (WEP) and Government Pension Offset (GPO) for payments payable in January of 2024 forward.

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Social Security

Trump Campaign: Seniors Shouldn’t Pay Tax on Social Security

on November 27, 2024 | By Joe Elsasser, CFP®, Founder and President of Covisum

In recent consumer seminars, one of the most common questions we are getting is the question of tax on Social Security benefits.

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Social Security

Will the Social Security Fairness Act repeal the WEP and GPO?

on November 22, 2024 | By Joe Elsasser, CFP®, Founder and President of Covisum

We’re getting a lot of questions about the Social Security Fairness Act (HR 82) which repeals the Government Pension Offset and Windfall Elimination Provision. This bill passed the house on November 12th, just 6 days after the election by a wide margin of 327-75.

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Social Security

Social Security COLA: 2.5% Increase for 2025

on October 11, 2024 | By Jackie Kleckner

On October 10, 2024, the Social Security Administration (SSA) declared a 2.5 percent increase in the monthly Social Security benefits. This Cost of Living Adjustment (COLA) is aimed at preserving the purchasing power of Social Security and Supplemental Security Income benefits against inflation.

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Social Security

Social Security Trust Fund Depletion Date Moved Up to 2033

on April 5, 2023 | By Katie Godbout, Vice President of Sales & Marketing

Income InSight and Social Security Timing Updated The Social Security Board of Trustees recently released its annual report on the financial status of the Social Security Trust Funds. According to the projection, the fund is expected to run out by 2033, leaving only 77 percent of the scheduled benefits payable. The latest projection date is one year earlier than the previous year’s forecast. Financial advisors using Social Security Timing and Income InSight already have the updated stress tests reflected in their software. Log in now and try it.

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Marketing

How Inflation Impacts Retirement Income Planning

on November 4, 2022 | By Lauren Laferla, Director of Communications

We are in a considerably higher inflation environment than we've seen in decades. While the Federal Reserve initially said the inflation is transitory, the high inflation has spanned more than two years. Over the past several months, high inflation has been a top concern for many people, especially those nearing retirement. Financial advisors are uniquely qualified to address these concerns and help clients plan and stress test for inflation.

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Social Security

Using the 2022 Trustees Report to Influence Your Social Security Retirement Planning

on July 1, 2022 | By Lauren Laferla, Director of Communications

An estimated 65 million people rely on retirement and disability benefits, and many are concerned about Social Security's future. Last month, the Social Security Board of Trustees released their annual report detailing the program's financial status. The 2022 report presents new opportunities for financial advisors who know where to look.

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Social Security

How Your Social Security Timing® Subscription Can Set You Apart from the Competition

on June 21, 2022 | By Lauren Laferla, Director of Communications

Helping clients navigate Social Security changes to optimize their claiming strategy gets more complex each year. And accuracy is essential when calculating the best time for your clients to retire with the most significant amount of Social Security income.

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