Social Security recipients may face overpayments, with the new repayment rate set at 50% of benefits, up from 10% under President Biden’s rule. Around $23 billion in outstanding overpayments affected around a million recipients as of Sept. 30, 2023. Recipients can appeal or request a waiver to reduce or avoid having benefits withheld. Documentation proving higher expenses than remaining income after repayment can help. The $23,760 Social Security bonus many retirees overlook could boost retirement income. Strategies to maximize Social Security benefits can lead to a more confident retirement.

Read more at Nasdaq: Social Security Is Garnishing Up to 50% From Over a Million Recipients Due to Overpayments. Here’s What You Need to Know.