Social Security 2019 Trustees Report

Today, the Social Security Board of Trustees released its annual report on the current and projected financial status of Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) Trust Funds.

The combined funds reserves are projected to become depleted in 2035, one year later than projected last year, with 80 percent of scheduled benefits payable at that time. The DI Trust Fund reserves are estimated to become depleted in 2052, extended 20 years from last year’s estimate of 2032, with 91 percent of benefits still payable.

To learn more, please visit: https://www.ssa.gov/news/press/releases/2019/#4-2019-1

Join us on Facebook Events Page on Tuesday, April 30, at 7 p.m. ET as we chat with Social Security’s Chief Actuary Steve Goss about the 2019 Trustees Report. You can register for the event starting on Wednesday, April 24.

 

 Note: The closed-captioned version will be available post broadcast.

 

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Spruce Up Your Financial Plan with Social Security

Financial Plan with Social SecurityNow that tax season is over, it’s probably a good time to evaluate some financial “best practices” for the rest of the year. A good spring-cleaning can clear out the clutter to let you see a clear path for your future. Social Security is always here to help. Even if you just started working, now is the time to start preparing for retirement. Achieving the dream of a secure, comfortable retirement is much easier with a strong financial plan. Continue reading

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Get Your Social Security Benefit Statement (SSA-1099)

Now that it’s tax season, you might be gathering all of your forms and documentation from the previous year. Sometimes getting all that material together — receipts for donations, business expenses, and travel — can be overwhelming. And losing one vital piece can take up time that you might not be able to spare.

The Social Security 1099 (SSA-1099) or Benefit Statement is a tax form Social Security mails each year in January. It shows the total amount of benefits you received from Social Security in the previous year, so you know how much Social Security income to report to the IRS on your tax return. Luckily, Social Security has you covered. If you live in the United States and you need a copy of your SSA-1099 or 1042S tax form, simply go online and get an instant, printable copy of your form with a my Social Security account. Continue reading

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