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What to Know for Wednesday, May 20th, 2026: |
1: Social Security proposing to cut SSI benefits for 400,000 disabled people living with families who receive SNAP |
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(Image Credit: AP Photo) |
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Would remove SNAP as qualification for SSI's "public assistance household" rule: Currently, if a household receives SNAP benefits, they're automatically deemed unable to financially support a disabled loved one, so the SSI recipient gets full benefits — new rule would require EVERY household member to receive public income maintenance (PIM) payment for household to count as public assistance household. SSA's own actuaries say current rule would help 386,000 people by 2033: Social Security found that by 2033, roughly 277,000 SSI beneficiaries would have higher benefits than otherwise and 109,000 additional beneficiaries would be eligible for SSI under the Biden-era rule — the proposed change aims to prevent these increases. Center on Budget analysis: 275,000+ lose benefits, 100,000+ lose eligibility: Removing SNAP as qualifying form of public assistance would result in benefit cuts for over 275,000 people and loss of eligibility for over 100,000 more — disabled people over 18 living with poor families would be "evaluated based on the value of their bedroom and how much income and assets their relatives make" even if SNAP already confirmed the family is poor.
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➜ Read the full article from NJ here. |
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2: Cassidy-Kaine proposal to borrow $26.6 trillion and invest in stocks "unlikely to work" — would leave taxpayers with large debt |
Plan to borrow and invest has 64% chance of failure even with optimistic returns: Senators Bill Cassidy and Tim Kaine propose borrowing $1.5 trillion to create equity investment fund plus $25.1 trillion to cover Social Security shortfalls over 75 years — but Center for Retirement Research analysis shows even with historical 6.5% real return, plan only pays back all borrowing 36% of the time, and with more realistic 4% return, it works only 17 out of 100 times. Doubling national debt would further reduce returns: Increasing debt-to-GDP ratio would raise interest rates and lower equity returns through higher discount rates and slower GDP growth — with these effects factored in (3.5% return), even at 95th percentile the investment fund would only offset 21% of the $26.6 trillion borrowing. Equity investments could help IF paired with immediate solvency fix, but window closing: If Congress immediately raised payroll taxes 3.82% (or cut benefits) to restore solvency FIRST, then investing 40% of trust fund in equities could reduce need for future tax increases or benefit cuts — but if Congress waits until 2034 to act, required 4.53% tax increase plus equities "would likely not provide a permanent fix."
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(Image Credit: Getty Images) |
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➜ Read the full article from the Center for Retirement Research here. |
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3: 6 side jobs adults 60+ use to supplement Social Security — from pet sitting to mock juror work |
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(Image Credit: Reuters) |
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Flexible options pay $19-$75+ per hour: Pet sitting ($45-$75/night on Rover), bookkeeping ($23.66/hour), tutoring ($19.27/hour on sites like Tutor.com), and music lessons ($40/hour) let you set your own schedule and client load — most can be done from home or virtually, with low physical demands. Passive income: rent parking space for $100-$500/month: If you have an unused parking space, rent it out on sites like Spacer or Neighbor for easiest passive income — you'll "collect a monthly check without lifting a finger," or become a mock juror reviewing legal cases from home for $30-$60 (online reviews) or $75-$100 (virtual trials). Know the Social Security earnings limits before you work: If you're under full retirement age for all of 2026, you're considered retired if earnings are less than $2,040/month ($5,430/month in the year you reach FRA) — benefits reduced if you surpass annual earnings limit until FRA, but after reaching full retirement age, there's no limit on earnings and you still receive full benefit.
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➜ Read the full article from Yahoo Finance here. |
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Here’s What You Missed on YouTube: |
Check out our new YouTube videos for Wednesday, May 20th. |
Social Security Pays May 27 — Here's Exactly Who Gets Paid (And What to Do If Your Check Is Late) |
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Social Security Pays May 27 — Here's Exactly Who Gets Paid (And What to Do If Your Check Is Late) |
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This newsletter is for information only. Always confirm your options directly with Social Security, Medicare, Medicaid, or a qualified advisor before making big decisions about your benefits. |
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