Social Security Eliminates Some Benefit Options, May 1st

April 21, 2016 by  
Filed under Featured, Financial Tips, Latest Posts, Reports & Updates

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Did you know that:

– Contributions to Social Security Administration (SSA) are NOT earmarked and are considered general funds

by the U.S.Treasury, based on Supreme Court ruling (Helvering v. Davis 1937)?

– The Supreme Court ruled that workers have NO rights to their Social Security benefits (Fleming v. Nestor 

1960) and they can be eliminated at any time?

– In 1983 Congress passed a law to tax 50% of a social security recipients benefits to attempt to repair the future bankruptcy of the system:    “Following the 1979 Advisory Council, the National Commission on Social Security Reform (informally known as the Greenspan Commission after its Chairman) was appointed by the Congress and the President in 1981 to study and make recommendations regarding the short-term financing crisis that Social Security faced at that time. Estimates were that the Old-Age and Survivors Insurance Trust Fund would run out of money, possibly as early as August 1983. This bipartisan Commission was to make recommendations to Congress on how to solve the problems facing Social Security. Their report, issued in January 1983, was the basis for Congress’ consideration of the Social Security reform proposals which ultimately resulted in the 1983 Social Security Amendments.”

– Governor, Chris Christy, says Social Security is BANKRUPT & only IOU’s are left?

– SSA Trustees expect the deficit to average $75 billion each fiscal year from 2013 to 2018 before rising sharply?

– US National Debt – $19 Trillion ($19,000,000,000,000), and growing?

– Total US Debt – $64 Trillion ($64,000,000,000,000), and growing?

– Total Unfunded Liabilities – $100 Trillion ($100,000,000,000,000), and growing?

– Over 161 million Americans receiving government benefits, and growing, compared to ONLY 150 million in the work force?

- Last year there was NO cost of living increase for SSA recipients but there was an increase in welfare benefits?

– On May 1st, 2016 SSA, unexpectedly but not surprisingly, will eliminate the two most common benefits options?

If you, or anyone you know, has reached full retirement and has not decided to file for SSA benefits, suspensions 

or restrictions contact us before the month ends.

Regardless, we can help with any and all decisions about your finances and retirement.  Proper selection of SSA 

benefits are just part of a complete analysis we offer for everyone, at no charge.

Richard St-Laurent,cwpp