Do you prefer face-to-face meetings? Do you struggle getting through a phone tree or finding what you need online? Many of our clients receive Social Security Retirement benefits, Social Security Disability benefits, and various other benefits provided through the Social Security Administration (the “SSA”). Recently, Kilolo Kijakazi, the Acting Commissioner of Social Security, announced that local Social Security offices would resume in-person services on April 7,2022, including offering services to individuals without appointments. According to the SSA’s Closing and
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Avoiding Social Security Scams in Wisconsin
Scams are growing more and more sophisticated with each passing year. Avoiding scams can be difficult, due to both how common they are and how convincing they can appear to be. The elderly are perhaps the most common targets for Social Security and Medicare scams, although people of all ages can and do fall victim to scam artists. The Federal Trade Commission (FTC) reports that victims lost millions of dollars to social security scams in 2018 alone, and that
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2021 Qualified Plan Cost of Living Increases, 2021 Social Security Taxable Wage Base
On October 26, 2020 the Internal Revenue Service announced the cost-of-living adjustments for the various qualified retirement plan limits. Some of the limits shown below have increased from last year while others remained unchanged.
Qualified Plan Limit
Cost-of-Living Adjustments
401(k) and 403(b) elective deferral limit
2020 – $19,500
2021 – $19,500
$200,000 compensation limit
2020 – $285,000
2021 – $290,000
$160,000 defined benefit limit
2020 – $230,000
2021 – $230,000
$40,000 defined contribution limit
2020 – $57,000