Retirees and others who rely on Social Security will see a large boost in benefits next year, with the average benefit rising by $141 per month, as inflation stays above 8%.
After reading an investigation by NPR and the Marshall Project, former foster youth are asking what happened to their benefits — and the government isn't helping.
The highest inflation since the 1980s has many retirees scared. Their retirement nest eggs will be in peril if it persists over the long term.
The new projections in the annual Social Security and Medicare trustees reports indicate that the program will be unable to pay full benefits in 2034. Last year's estimated exhaustion date was 2035.
Many senior citizens entered their golden years with more debt than previous generations, and now they're struggling financially as they try to provide care for an ailing relative during the pandemic.
Lou Gehrig's disease can take months to diagnose, then rapidly incapacitate patients, leaving many families bankrupt before disability payments and Medicare kick in. A recent law aims to change that.
Some employees will soon see a boost in take-home pay. The Trump administration has given employers the option to stop collecting payroll taxes. But workers may have to repay the money next year.
President Trump has directed the Treasury Department to stop collecting payroll taxes this fall in an effort to boost workers' paychecks. But the move is temporary, and could spark headaches in 2021.