Social Security benefits affect millions of households. For some, it’s their only source of income. With recent changes in it polices in in April, many people are seeing reduced monthly payments.
David Guzman is a retiree that did not understand why his benefits suddenly changed. After searching for answers, he found that he was one of the many that was overpaid by the Social Security. Guzman is one of many responding to the changes in the social security overpayment recovery policy.
The administration announced in April an increase of withholding rate would occur from 10 to 50 percent. Withholding began rolling out in July, as notices were sent out to millions. Leaving many like Guzman left to find help with his income. Social Security Administration will continue to send notices to those who were overpaid.
To better understand your notice, contact your local social security office.