Social Security Commissioner Makes 4 SHOCKING Changes to Social Security (#218)

Financial Advisors Say The Darndest Things by A.B. Ridgeway

07:29
Episode notes

Episode Summary: In this episode of "Financial Advisors Save the Darndest Things," host AB Ridgeway addresses the issue of Social Security overpayments and the impact they have on beneficiaries. He discusses recent changes announced by Social Security Commissioner Martin O'Malley aimed at addressing these issues and providing relief to affected individuals and families.

Key Takeaways:

  1. Reforming Overpayment Practices: Commissioner O'Malley announced significant reforms to the overpayment recovery process, including reducing the default withholding rate from 100% to 10% of monthly benefits. This change aims to alleviate the financial burden on beneficiaries who are struggling to repay overpayments.
  2. Shifting the Burden of Proof: Another key change is shiftin ... 
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Keywords
Social Securitysocial security benefitsSocial Security Question