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Social Security Fairness Act 2025: Eligibility, Payment Schedule, and Benefit Amounts

The Social Security Fairness Act 2025 aims to address longstanding disparities in retirement benefits by expanding eligibility criteria, adjusting the payment schedule, and recalibrating benefit amounts. The legislation, currently under review in Congress, seeks to eliminate the so-called “windfall elimination provision” and “government pension offset,” which have historically reduced benefits for certain retirees, particularly those...

401(k) Contribution Limit Increased to $23,500 for Employees in 2025

The Internal Revenue Service (IRS) has announced an increase in the annual 401(k) contribution limit for employees participating in employer-sponsored retirement plans, setting the maximum contribution at $23,500 for the 2025 tax year. This adjustment, which reflects inflation adjustments mandated by federal law, marks a significant increase from the 2024 limit of $22,500. The increase...

Stimulus Payments for Seniors: Complete Schedule of the $5,108 Disbursement in October 2025

Senior Americans receiving federal benefits are set to see a significant financial boost in October 2025, with a comprehensive disbursement schedule totaling approximately $5,108 per recipient. This targeted aid aims to support vulnerable populations amid ongoing economic adjustments, with payments distributed through a combination of Social Security, Supplemental Security Income (SSI), and other federal benefit...

Federal Minimum Wage Increase to Fifteen Dollars Expected to Boost Annual Earnings by Approximately Three Thousand Three Hundred Dollars for Thirty-Two Million Workers

The federal government’s decision to raise the minimum wage to $15 per hour is poised to significantly impact millions of American workers. An estimated 32 million employees earning near the current federal minimum are expected to see their annual earnings increase by approximately $3,300 on average. This adjustment, part of ongoing efforts to address income...

Millionaires Face Higher Taxes as Social Security Wage Base Increases to Three Hundred and Seventy-Nine Thousand Dollars

The Social Security Administration (SSA) announced that the Social Security wage base will increase to $379,000 for the upcoming year, marking a significant rise from the previous cap of $147,000. This adjustment means that individuals earning above this threshold will face higher Social Security payroll taxes, impacting a subset of high-income earners, including many millionaires....
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