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Social Security Oversight Cost Beneficiaries Millions | Business and Finance News
Description
Thousands may have lost over $100 million in Social Security benefits due to a critical oversight: employees failed to inform widows and widowers they could claim survivor benefits first, then delay their own retirement for higher lifetime payouts. Around 5,367 people missed out, costing them roughly $113.8 million in lost income and future cost-of-living adjustments. For those already grieving or financially vulnerable, this mistake hit hard. The report warns beneficiaries must take charge of their own research and planning—don’t rely solely on Social Security for guidance. Proactive retirement planning is no longer optional—it’s essential to avoid leaving money on the table.
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