Only high-income households have managed to build significant savings, and the Center for Retirement Research at Boston College says 52 percent of today's working-age households face the shock of declining living standards in retirement. "If you have a dollar to spend on retirement security, it's much better to spend it on Social Security than by spreading...» Read More
Democrat Jared Bernstein says Chris Christie's Social Security plan "does virtually nothing" to make the program solvent.
Jared Bernstein, Center on Budget and Policy Priorities, and Kevin Hassett, American Enterprise Institute, debate the best way to implement entitlement reform, including reshaping social security.
Add more guaranteed income to your retirement nest egg by delaying when you take your benefits.
New Jersey Gov. Chris Christie wants reduced Social Security benefits for wealthier Americans. Insight, with CNBC's John Harwood; Jared Bernstein, and Maya MacGuineas, Committee for Responsible Federal Budget.
CHICAGO, April 9- Illinois is the national poster child for state budget messes. Illinois exempts all retirement income from state taxes- Social Security, private and public pensions, and annuities. And we're hardly alone: 36 states that have an income tax allow some exemption for private or public pension benefits, and 32 exempt all Social Security benefits from...
CNBC's Sharon Epperson shed lights on how to maximizing your social security benefits, and pros and cons of different retirement age plans.
Data says more than 6 million Americans listed as 112 or older who have "active" Social Security numbers. Ironically, there's only 35 people over 112 in the entire world. CNBC's John Harwood reports on Social Security fraud.
The push for a first Republican budget plan in nearly a decade is revealing a chasm within the party on spending, the NYT reports.
Your retirement may be at risk, and the rising costs of Social Security, public pensions and health care are the primary reasons why.
CHICAGO, March 12- If you are counting the days to retirement because you hate your job, career expert Kerry Hannon has a message for you: "Stick with it." An annual survey on retirement by the Employee Benefit Research Institute consistently finds that about half of workers retire earlier than they expected- and that job burnout is a key factor.
Due to bad records, some Social Security numbers for people age 112 and older are still listed as alive—and some claim to be working.
BEIJING, March 10- China's pension fund will come under tremendous pressure to break even in coming years and as such, the government needs to gradually raise the official retirement age to salvage the finances, a top official said on Tuesday. Analysts have long warned about China's state pension crisis and the severe funding shortage, with some estimating that...
The recommendation that people should put more money aside in investments is bleeding savers dry. The NYT reports.
NEW YORK, Feb 26- When Wanda Simpson reached retirement a couple of years ago, the Cleveland mom had an unwelcome companion: Around $25,000 in debt. New data reveal that Wanda Simpson has company- and plenty of it. Among families headed by those 55 or older, 65.4 percent are still carrying debt loads, according to the Washington, D.C.- based Employee Benefit Research...
That is good news for patching up household balance sheets damaged by years of lost employment and savings, and also for boosting future Social Security benefits. Social Security is a benefit you earn through work and payroll tax contributions. Your Social Security benefit is calculated using a little-understood formula called the Primary Insurance...
Chicago, Jan 21- Remember Mitt Romney's huge IRA? I found plenty to like in the proposals, with one big exception: the failure to endorse a bold plan to expand Social Security. Yes, that is just another idea with no chance in this Congress, but Democrats should give it a strong embrace, especially in the wake of the House's adoption of rules this month that could set the...
Monthly benefits for nearly 64 million Americans will increase 1.7 percent in 2015, the Social Security Administration announces.
Credit cards are in focus after recent data breaches, but a real culprit in ID theft is the SS number, says the chief analytics officer at LifeLock.
CNBC's John Harwood reports the details from the Social Security & Medicare Trustee Report, which informs Medicare will have sufficient funds until 2030, and disability insurance within social security will be insolvent in late 2016.
Slower growth in healthcare spending is shoring up the funding outlook for the federal Medicare program that covers hospital bills for the elderly.