President Donald Trump's mass deportation plans could have a significant economic side effect: draining Social Security funding.

The cost-of-living adjustment (COLA) applied to Social Security payments in any given year is based on CPI-W inflation from the third quarter of the previous year. In that sense, COLAs are a reimbursement mechanism to compensate retirees for the buying power benefits lost in the previous year.

The Supplemental Security Income program gives payments to those living with debilitating disabilities which may affect their income.

Checks are issued throughout the month, based on the recipient's birth date or the duration of time they have been receiving benefits.

Just after midnight on the very last day of the 2024 Senate session, the Social Security Fairness Act was passed.

The monthly payment schedule for Social Security checks has three waves, all occurring on Wednesdays. The upcoming check is part of the third wave.

President Joe Biden recently signed the Social Security Fairness Act, which eliminated the Government Pension Offset and Windfall Elimination Provision rules. Biden touted the bill as a way

The bad news is that you'll lose spousal benefits once you're no longer married, but you could be entitled to a different type of benefit. You'll only qualify for spousal benefits if you're currently married to someone who is entitled to either retirement or disability benefits.

If Social Security reserves are depleted by 2033, as predicted, future benefits could be cut by as much as 21%. Here’s how to weather the impending storm.

Social Security recipients are allowed to collect benefits while working. Once full retirement age arrives, you can earn any amount of money without risking having benefits withheld. But prior to that point, you'll be subject to an earnings-test limit.

In 1983, the Windfall Elimination Provision and the Government Pension Offset, which reduced Social Security payments for retired police officers, firefighters, postal workers and teachers, were signed into law by former President Ronald Reagan.