March 29, 2000 |
Thousands of working senior citizens will be able to earn as much outside income as they want without losing Social Security benefits under legislation given final passage Tuesday by the House. President Clinton intends to sign the bill into law. "They deserve the freedom to choose to work without losing their Social Security benefits," said Rep. E. Clay Shaw Jr. (R-Fla.), a prime sponsor of the bill. "It's their money. It should be their choice."
March 23, 2000 |
Wondering how the Social Security changes approved Wednesday by the Senate might affect you? The legislation is expected to result in about 800,000 working retirees getting bigger Social Security checks because earnings limits will be repealed.
March 2, 2000 |
The House passed legislation Wednesday that would repeal the long-standing earnings limit on Social Security, enabling Americans 65 to 69 years old to earn as much money as they want each year without losing any federal retirement benefits. The measure, passed on a 422-0 vote, would affect about 800,000 Americans and would take effect retroactively to Jan. 1. Under current law, seniors 65 to 69 who earn more than $17,000 a year lose $1 in benefits for each additional $3 earned.
March 1, 2000 |
Legislation lifting the earnings limit for Social Security recipients age 65 to 69 was unanimously approved by the House Ways and Means Committee, clearing the way for a floor vote later this week. The legislation was approved on a voice vote and stands a good chance of passing both houses of Congress despite partisan gridlock on many other issues. President Clinton has promised to sign the bill into law if it reaches his desk without too many changes.
December 6, 1998
When President Clinton promised to dedicate the last two years of his administration to shoring up the Social Security system for all time, one thing was conspicuously absent: a plan. No wonder. The challenge is huge. Social Security is under siege from a worldwide confluence of forces--demographic, technological and political--that are leaving relatively few workers to pick up the tab for more comfortable lifestyles for vastly increased numbers of retirees.
December 6, 1998 |
Smaller benefits. Higher taxes. Later retirement. More reliance on private pensions. Desperate problems demand desperate solutions, and the major industrial powers, their public pension programs hurtling toward a fiscal cliff, are trying desperately not to go over the edge. Compared with the rest of the industrial world, the United States has time on its side. Social Security is accumulating a surplus big enough to keep the system solvent until 2032.