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Image source: Getty Images. Another effect is that retirees have fewer years to collect delayed retirement credits, which increase benefits for delaying past full retirement age up to age 70.
Employees hired after 1983 are required to be covered by the Federal Employees Retirement System (FERS), which is a three tiered retirement system with a smaller defined benefit (pension), Social Security, and a 401(k)-style system called the Thrift Savings Plan (TSP). The defined benefits of both the CSRS and the FERS systems are paid out of ...
Image source: Getty Images. 1. Benefits got a 3.2% raise. Each year, Social Security benefits are eligible for a cost-of-living adjustment, or COLA.
Unfortunately, retirees can expect some not-so-good news about the short- and long-term future of Social Security. Two people with worried expressions looking at documents. Image source: Getty Images.
The Social Security System (SSS; Filipino: Paseguruhan ng Kapanatagang Panlipunan) is a state-run, social insurance program in the Philippines to workers in the private, professional and informal sectors. SSS is established by virtue of Republic Act No. 1161, better known as the Social Security Act of 1954.
People who rely upon Social Security income in retirement frequently look forward to the next year’s cost-of-living adjustment (COLA), but this amount varies significantly from year to year ...