A recently introduced bill in the U.S. House of Representatives would change the way the Cost of Living Adjustment (COLA) is calculated for Social Security recipients. Currently the COLA is determined by the Consumer Price Index for Urban Wage Earners (CPI-W) from the prior year. CPI-W considers the cost of food, consumer goods, housing, health…
It looks like the new Social Security Commissioner, Martin O’Malley, is really taking charge. A number of changes have been implemented in the several weeks Commissioner O’Malley has been on the job. Among the most meaningful is decreasing the default overpayment withholding rate to 10% (or $10, whichever is greater) from 100%. This will significantly…
Summer 2021 Newsletter STILL STANDING…AND PRACTICING I published the first issue of Social Security & You in Spring of 1993. Some years I’ve published more issues than others. The most recent issue was dated Spring 2019: over 2 years ago. The world was a much different place then. Especially for me. Read the full newsletter…
Spring 2019 Newsletter An Opioid Story I’ve changed his name. Let’s call him Gerald. He was a laborer. And by that I don’t mean that he just did physical work. He was a card-carrying member the Labor’s Union local. And that meant a lot to him. I represented him for Social Security disability and Michigan…
It looks like the new Social Security Commissioner, Martin O’Malley, is really taking charge. A number of changes have been implemented in the several weeks Commissioner O’Malley has been on the job. Among the most meaningful is decreasing the default overpayment withholding rate to 10% (or $10, whichever is greater) from 100%. This will significantly reduce hardship on persons with overpayments.
When an overpayment is assessed, often through no fault of the recipient, Social Security will pursue the overpayment. In the past the recipient would often receive a notice to remit thousands of dollars immediately.
Now if the rate is less than 10% Social Security will recover the overpayment over 60 months.