Blog Post

Does Government Shutdown Affect Social Security?

John Darer • Jan 22, 2018

Should You Be Worried if You Depend on Social Security Payments?

government shutdown

What is a Government Shutdown?
In U.S. politics, a government shutdown is the name for the process the Executive Branch must enter into when the Congress creates a "funding gap" by choosing not to or failing to pass legislation funding government operations and agencies.

Some agencies and departments—such as the Social Security Administration, which are are funded by long-term or mandatory appropriations Funding for the programs under Titles II, XVI, and XVIII of the Social Security Act will continue, even in the event of a lapse in appropriations . Indefinite trust funds supply Title II and Title XVIII benefits , said Michelle King, Deputy Commissioner of Budget, Finance and Management at the the Social Security Administration in a letter describing the contingency plan, to Mick Mulvaney Director of Office Management and Budget on January 18, 2018.

All essential services continue during a shutdown including Medicare (and Medicaid) payments. Some minor functions such as social security benefit verification and the issuance of Social Security cards may cease during the shutdown.

History of US Government Shutdowns

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By John Darer • 25 Apr, 2024
A Certified Financial Transitionist is trained and certified to help clients navigate through major life events and the financial transitions that accompany them. Especially useful for personal injury victims and wrongful death survivors to help prepare for the important decisions they will need to make.
Sequencing Risk for Those Receiving Legal Settlements

What is Sequencing Risk? Can Structured Settlements Help?

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John Darer reviews sequencing risk and the impact of early spending after settlement. Sequencing and Decumulation risk is a factor for recipients of legal settlements and should be addressed in advance of settlement as aprt of settlement planning and wealth orientation.
structured settlement rate lock ins

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By John Darer • 21 Apr, 2024
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market based structured settlements for lawyers, law firms or plaintiffs

Market Based Structured Settlements | How They Work

By John Darer • 14 Apr, 2024
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new york structured settlements, new york city structured settlements, nyc structured settlement cos

New York City Structured Settlement Annuities 2024

By John Darer • 16 Mar, 2024
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By John Darer • 08 Mar, 2024
An executor cannot change the beneficiary of a structured settlement annuity. Typically, settlement agreements permit the Payee to name or change a beneficiary, provided such change is in writing and submitted to the Assigmment Company or the annuity issuer in writing and in proper form. An executor is a court appointed representative of the decedent, or in this case, deceased structured settlement annuitant. The insurance beneficiary designation is a contract between the decedent and the insurance company that was entered into prior to the decedent's death.
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Structured settlements can be helpful to mitigate the taxes that may be due on sexual harassment settlements
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By John Darer • 18 Feb, 2024
If you will be receiving a personal injury settlement, a settlement is not a windfall even if it's the largest sum of money that you've ever had in your bank account Start with taking at least a minute to think about the reason why you are receiving the settlement and what you had to go through to get it.
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