Welcome back to the Retirement Inside Out podcast! Hamilton Morales, the Senior Vice President of Social Security here at FIG, is with us for this week’s episode. Amidst a busy start to the year, he has some important updates and insights to share surrounding Social Security.

Listen in to learn how Hamilton assists financial professionals in staying informed about Social Security changes, and the various Social Security events and seminars he is available to host. He’ll discuss the latest adjustments to Social Security for 2024, including increases in maximum taxable earnings and changes to the earnings test exemption amount. He’ll also shed light on the complexities of Social Security taxation and reveal a surprising detail about state taxes on Social Security benefits in certain states. Don’t miss this enlightening discussion!

Here’s some of what we discuss in this episode:

• Getting in touch with Hamilton to speak at your event
• The maximum taxable earnings for Social Security has increased in 2024
• The earnings test exemption amount has increased from $21,240 in 2023 to $22,320 in 2024
• While the COLA dropped from 8.7% in 2023 to 3.2% in 2024, Medicare Part B premiums increased by almost 6%
• Some states impose taxes on Social Security benefits + educating clients on federal and state taxation
• Understanding spousal benefits, widows' benefits, and benefits for children

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