Retirement & Social Security Archives - Page 96 of 114

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The 2026 Roth IRA contribution limit climbed to $7,500 — and savers aged 50+ can add another $1,100 catch-up, for $8,600 in tax-free retirement contributions this year

David Keller3 months ago3 months ago08 mins

Workers saving for retirement in 2026 can now put away $7,500 in a Roth IRA, up from the prior cap, while those aged 50 and older qualify for an additional $1,100 catch-up contribution, bringing their annual ceiling to $8,600. The IRS locked in those figures through Notice 2025-67, published in Internal Revenue Bulletin 2025-49, citing…

Matured male physician and senior couple discussing over laptop at retirement home

Social Security’s full retirement age officially reaches 67 this year for everyone born in 1960 or later — claiming at 62 locks in a 30% smaller monthly check for life

David Keller3 months ago3 months ago08 mins

Americans born in 1960 or later who claim Social Security retirement benefits at age 62 will permanently lose 30% of their monthly payment compared with waiting until full retirement age. That full retirement age has now reached 67 for this entire group, completing a phase-in that Congress set in motion more than four decades ago….

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CMS comments close June 15 on a rule forcing Medicare drug plans to approve prior authorization within 72 hours — 24 hours for urgent requests

David Keller3 months ago3 months ago09 mins

Medicare patients waiting days or weeks for drug plan approvals could see that timeline shrink to hours. The Centers for Medicare & Medicaid Services (CMS) has proposed rule CMS-0062-P, which would force Medicare drug plans to issue standard prior authorization decisions within 72 hours and urgent decisions within 24 hours. Public comments on the proposal…

The 2026 Saver’s Credit pays up to $1,000 to lower-income workers who put $2,000 into a 401(k) or IRA — yet about 1 in 5 eligible filers never claims the credit every year

David Keller3 months ago3 months ago09 mins

Millions of lower-income workers stand to receive up to $1,000 from the federal government simply for contributing $2,000 to a 401(k) or IRA, yet roughly one in five eligible filers leaves that money on the table every year. The Saver’s Credit, codified in federal tax law as a nonrefundable personal credit, applies a sliding percentage…

Mature couple consulting a financial planner about their retirement strategy

Social Security’s trust fund empties in 2034 — triggering an automatic 19% cut that drops the average retiree’s check from $1,976 to about $1,600 a month overnight

Warren Cohen3 months ago3 months ago014 mins

Somewhere in Ohio, a retired teacher deposits $1,976 from Social Security each month and stretches it across a mortgage, utilities, and the medications her insurance does not fully cover. In Texas, a disabled warehouse worker counts on his benefit to make rent. In Florida, a 72-year-old widow has no other income at all. None of…

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Each Roth IRA conversion starts its own 5-year clock — a 60-year-old retiree who converts $400,000 in 2026 owes a 10% penalty on every dollar he touches before January 2031

David Keller3 months ago3 months ago012 mins

A retiree who rolls a traditional IRA into a Roth account does not simply flip a switch and gain penalty-free access to those funds. Each conversion starts its own separate five-taxable-year waiting period, and withdrawing converted dollars before that clock expires can trigger a 10% additional tax, even when the account holder has already paid…

a man laying in a bed with a cast on his arm

The VA just added hypertension, MGUS, male breast cancer, urethral cancer, and paraurethral cancer to the PACT Act presumptive list — veterans with those diagnoses skip the exposure-proof step

Warren Cohen3 months ago3 months ago08 mins

Veterans diagnosed with hypertension, monoclonal gammopathy of undetermined significance (MGUS), male breast cancer, urethral cancer, or cancer of the paraurethral glands can now file for service-connected benefits without assembling individual proof of toxic exposure during deployment. The Department of Veterans Affairs added all five conditions to its PACT Act presumptive list, shifting the burden of…

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Scammers now text Social Security recipients fake “account verification” links — SSA never sends texts asking you to verify, log in, or reset benefits

David Keller3 months ago3 months ago012 mins

Social Security recipients across the country are receiving text messages that appear to come from the federal government, urging them to click a link and “verify” their accounts. The messages look official, sometimes referencing benefit amounts or account problems, and they ask for sensitive details like Social Security numbers and dates of birth. But the…

The Saver’s Match starts in 2027 — but only workers earning under $20,500 single or $41,000 joint qualify for the full $1,000 federal retirement-contribution match

Warren Cohen3 months ago3 months ago09 mins

Millions of lower-income workers who set aside even small amounts for retirement will soon be eligible for a direct federal deposit into their retirement accounts, but the income thresholds are tight enough to shut out a large share of the workforce. Starting with taxable years beginning after December 31, 2026, the federal government will match…

CMS comments close June 15 on a rule forcing Medicare drug plans to approve prior authorization within 72 hours — 24 hours for urgent requests

Warren Cohen3 months ago3 months ago09 mins

Millions of people enrolled in Medicare Advantage, Medicaid, CHIP, and federal marketplace plans could see drug prior authorization decisions arrive days faster under a proposed federal rule now open for public comment until June 15, 2026. The Centers for Medicare & Medicaid Services (CMS) wants to require health plans to approve or deny standard drug…

Category: Retirement & Social Security

The 2026 Roth IRA contribution limit climbed to $7,500 — and savers aged 50+ can add another $1,100 catch-up, for $8,600 in tax-free retirement contributions this year

CMS comments close June 15 on a rule forcing Medicare drug plans to approve prior authorization within 72 hours — 24 hours for urgent requests

The 2026 Saver’s Credit pays up to $1,000 to lower-income workers who put $2,000 into a 401(k) or IRA — yet about 1 in 5 eligible filers never claims the credit every year

Each Roth IRA conversion starts its own 5-year clock — a 60-year-old retiree who converts $400,000 in 2026 owes a 10% penalty on every dollar he touches before January 2031

The VA just added hypertension, MGUS, male breast cancer, urethral cancer, and paraurethral cancer to the PACT Act presumptive list — veterans with those diagnoses skip the exposure-proof step

The Saver’s Match starts in 2027 — but only workers earning under $20,500 single or $41,000 joint qualify for the full $1,000 federal retirement-contribution match

CMS comments close June 15 on a rule forcing Medicare drug plans to approve prior authorization within 72 hours — 24 hours for urgent requests

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