The CARES Act, Universal Basic Income and the Future of Social Security

An enormous scale support of individuals and businesses by the Federal Government was authorized by the CARES Act….

This stimulus check has been a practical application of the concept of Universal Basic Income (UBI)….

The CARES Act opened a precedent that is only likely to gain momentum in the future years and decades…..

It is a lot more likely that Social Security would be enhanced and expanded….

 

Understanding the Windfall Elimination Provision

What is the Windfall Elimination Provision
Some individuals face an unpleasant surprise when they file for Social Security
retirement benefits. Their Social Security pension can be reduced because they also
qualify for a non-covered pension. When a retiree has a pension from work that he or
she did not pay Social Security taxes, their retirement benefit may be reduced by the
Windfall Elimination Provision (WEP).

Understanding the Social Security International Agreements 

Can you benefit from Social Security International Reciprocity? 

Understanding the Social Security International Agreements 

The foreign-born percentage of the US population is 14%, or 45 million. It is a large group of people that keeps growing. Some of these individuals arrived as adults after having worked in  their home countries for a few years. Many of them may be able to benefit from the Social Security Totalization Agreements the US has with many countries. Most people are not aware of it.

Conversely, many US-born citizens that work abroad for some years may qualify for international retirement pensions, and again, they are probably not aware of it.