Monthly Archives November 2021

The Latest Facts About Social Security

The Latest Facts About Social Security

November 30, 2021

    On October 13, 2021, the Social Security Administration (SSA) officially announced that Social Security recipients will receive a 5.9 percent cost-of-living adjustment (COLA) for 2022, the largest increase in four decades. This adjustment will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2022. Additionally, increased payments to more than 8 million Supplemental Security Income (SSI) beneficiaries will begin on December 31, 2021.   Biggest COLA Increase in Decades? While many predicted a bump of as much as 6.1% given recent movement in the Consumer Price Index (CPI), the announced 5.9% increase is
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What To Do If You’ve Lost a Retirement Account

What To Do If You’ve Lost a Retirement Account

November 1, 2021

A recent study found that the problem of “forgotten 401(k)” and pension accounts is widespread, and amounts to approximately 24 million accounts containing $1.35 trillion in assets. The issue is so big that Congress is considering creating a national online “lost-and-found” database to help people track down their accounts as part of a larger bill containing more benefits and protections for retirees: the “SECURE Act 2.0” as some are calling it. But until legislation is passed, you will be on your own when it comes to finding your lost retirement money. Whether you changed jobs and forgot about your old
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