Welcome to In The News. A list of the top retirement, Social Security, Medicare and financial articles of the week, curated by the Sagewell Team.
1. A Boost For American’s Retirement Funds
This week the House passed the Securing a Strong Retirement Act of 2022 to make it easier for more Americans to create a financially secure retirement. The reason for this act? Millions of American’s are on course to lack the financial ability to retire, with 31% of workers having no retirement savings at all.
2. Social Security’s retirement age is moving to 67. Some experts say that could go even higher
If you’re considering retiring in the next couple of years, you may want to factor in a new bill which would push out the age for required minimum distributions on certain savings accounts to 75, up from the current age of 72. That change, if it passes the Senate, would be gradually phased in by 2032.
3. Social Security Offices Are Set To Reopen - Expect Long Lines
Social Security field offices that have been shuttered since the beginning of the pandemic will re-open on Thursday, customers “should expect long lines” and “may need to wait outside” as offices re-open.
