Tune into "Empowering Your Finance" for a crucial update on Social Security overpayments! The Social Security Administration (SSA) has recently reduced the default withholding rate for overpayment recoveries from 100% to 50%. This change is significant for beneficiaries who receive new overpayment notices on or after April 25, 2025.
This 50% rate applies specifically to Title II benefits, which include retirement, survivors, and disability insurance (SSDI) payments. At the same time, a reduction from the brief return to a 100% rate, which took effect on March 27, 2025, and the loss of half of a monthly benefit can still cause significant financial hardship for many recipients.
It's essential to note that most prior overpayments of Title II benefits remain subject to a 10% cap that was in effect earlier. The withholding rate for Supplemental Security Income (SSI) benefits remains unchanged at 10%.
If you receive an overpayment notice, you typically have 90 days to contact the Social Security Administration (SSA) to dispute the overpayment. You can request a lower withholding rate due to financial need, appeal the overpayment decision, or request a waiver of recovery.
Stay informed about how these changes could affect you and your financial journey.
Read The Full Blog Article: Social Security Overpayment Withholding Rate: 50% Update April 2025
Whether you're just getting started or ready to grow your wealth with purpose, we're here to empower you every step of the way.
Being financially educated means knowing how you spend your money and having a plan for what and where you spend it; however, being financially empowered means having control over your finances.
🎧 Listen, Follow, Comment, and Leave A Review
To ensure you don't miss out, follow us for new weekly episodes, videos, and blog articles.
🎧Visit Our Full Podcast Website: www.roadtofinancialempowerment.com
🎧 New episodes weekly | 💼 Budgeting | 📈 Saving | 💳 Credit | 👨👩👧 Counseling | 🎓College | 👩💼Retirement | 📊 Investing | Business and Economic News | and more
The Road to Financial Empowerment Blog:
www.roadtofinancialempowerment.com/blog/
Subscribe to Our Newsletter: The Road to Financial Empowerment
www.roadtofinancialempowerment.com/newsletter/
👇 Breaking Through Financial Barriers!
"Empowering Your Finance is the most comprehensive financial empowerment platform for financial education and planning resources."
Visit Our Website for Free Resources: 🔗Start your journey today:
www.empoweringyourfinance.com/
For Our Video Audience: Visit our YouTube channel and subscribe. www.youtube.com/@empoweringyourfinance
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.