The decline of pensions as a source of retirement income leaves newly minted retirees in a precarious position: They are potentially more dependent on Social Security to make ends meet.  New research from an employee benefit nonprofit seems to provide a stark illustration of that trend.

Social Security payments will see significant changes due to the Social Security Fairness Act. This new legislation, signed by President Joe Biden, aims to rectify benefit calculations for millions, especially those impacted by the Windfall Elimination Provision and Government Pension Offset.

There aren't many social programs in the U.S. that have had as much of a positive impact as Social Security retirement benefits. Since 1961, the earliest anyone can claim Social Security retirement benefits is age 62.

If you’re like most seniors, you’ll rely on  Social Security to provide a good portion of your income once you retire. But, it can be hard to figure out exactly what role Social Security will play in supporting you if you don’t know how much money you’ll get from the benefits program.

Social Security benefits play an important role in retirement income. But for retirees who may not need some or even all of their benefit, it still has value - especially if you plan to invest

The cost-of-living adjustment (COLA) for 2025 is indeed a most notable change in Social Security for 2025, but it's not an Earth-shattering one. The COLA, effective in December 2024, is just 2.5%. So if you were collecting, say, $2,000 per month, you'd now be getting $2,050.

Seniors get a choice as to when to file for Social Security. You’re allowed to sign up at any point once you turn 62. And if you wait until full retirement age (FRA), you’ll get your complete monthly benefit without a reduction.

If you retire before earning a paycheck for at least 35 years, your AIME could be substantially affected, as non-earning years are counted as zero. Depending on how many years of work are missing, retiring early may result in receiving a lot less money per month in Social Security benefits.

You'll have the best chance of staying comfortable in retirement if you have other sources of income to supplement your Social Security benefits.

Retirement is one of the biggest milestones in an American’s life. The promise of Social Security benefits is a major financial relief, but the age at which you choose to retire can significantly impact your monthly check.