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Supreme Court Justice Ruth Bader Ginsburg has been discharged from the hospital after receiving treatment for a possible infection, according to Reuters and NBC.Ginsburg was admitted to The Johns Hopkins Hospital in Baltimore on Tuesday morning. Both NBC and Reuters report that the 87-year-old Justice is "home and doing well" after the brief hospital stay.This story is breaking and will be updated. 409
Taking a Disney vacation can be pure magic.That’s what it feels like for Becca Robins of Boise, Idaho. She travels to Disneyland in Anaheim, California, about twice a year with her husband and three sons — one 7-year-old and 3-year-old twins.“We really fell in love with it when we had our first son,” says Robins, who runs the travel blog This Crazy Adventure Called Life. She and her husband first took their oldest son there when he was 10 months old. “You’d see his eyes light up when he saw his favorite characters and the rides, and the whole experience was magical.”But going on these trips isn’t cheap, Robins acknowledges. That’s why she’s always looking for ways to trim costs for tickets, food, transportation and accommodations. If you’re planning to visit a Disney park — such as Disneyland in Anaheim or Walt Disney World Resort in Orlando, Florida — you can cut costs, too. Here’s how. 938

Tad Cummins, a former teacher in Tennessee who was charged with the kidnapping of a 15-year-old girl, is expected to plea guilty in the case.Cummins' attorney filed a motion for a hearing to change Cummins' plea.He pleaded not guilty last year on charges of transporting a minor across state lines for the purpose of engaging in criminal sexual conduct and obstruction of justice.Read More: 413
The anonymous juror's attorney just sent out a press release with a statement by the juror. It confirms what many have suspected: "The grand jury was not presented any charges other than the three Wanton Endangerment charges against Detective Hankison." pic.twitter.com/LB5hMjrzfU— Roberto Aram Ferdman (@robferdman) October 20, 2020 341
Starting Social Security early typically means getting a smaller benefit for the rest of your life. The penalty is steep: Someone who applies this year at age 62 would see their monthly benefit check reduced by nearly 30%.Many Americans have little choice but to accept the diminished payments. Even before the pandemic, about half of retirees said they quit working earlier than they’d planned, often due to job loss or health issues. Some have enough retirement savings to delay claiming Social Security, but many don’t. And now, with unemployment approaching Depression-era levels, claiming early may be the best of bad options for older people who can’t find a job.But the penalty for early filing, and the bonus for delaying your application, are based on old formulas that don’t reflect gains in life expectancy, says economist Alicia Munnell, director of the Center for Retirement Research at Boston College. The result is a system that unfairly penalizes early filers, unjustly benefits late filers — and hurts lower-income people the most.“Low-income people disproportionately collect benefits at 62 and their benefits are cut too much, and high-income people disproportionately delay claiming till 70 and their benefits are increased too much,” Munnell says. “So you penalize the low-income and you benefit the high-income.”The problem started off as a solutionOriginally, Social Security had one retirement age: 65. In 1956, Congress authorized a reduced benefit for women, to allow them to retire at the same time as their typically older husbands. The reduced benefit option was extended to men in 1961.The amount of the reduction was meant to be “actuarially neutral,” so that the cost to Social Security would be the same whether those with average life expectancies claimed the smaller check earlier or the larger check later.As life expectancies rose, though, early filers wound up living with the penalty for longer. In 1956, a 65-year-old woman had an average life expectancy of 16.9 years. Today, it’s 21.6 years, Munnell says. Instead of being actuarially neutral, in other words, the current system results in early filers with average life expectancies getting less.On top of that, Social Security offers a bonus for those who can afford to wait. A 1% delayed retirement credit was introduced in 1972, and the amount was increased over the years to the current 8%. So each year you put off claiming Social Security past your full retirement age adds 8% to your payment. Full retirement age varies according to birth year and is 67 for people born in 1960 or later.Let’s say your full retirement age is 67 and your benefit, if started then, would be ,000 a month. Starting at 62 would shrink the benefit to 0, while waiting until 70 to begin would boost the amount to ,240.The longer you live, the more you can benefit from a delayed filing — and the higher your income, the longer you’re likely to live. In fact, most of the gains in life expectancy in recent years have accrued to higher-income people.Between 2001 and 2014, for example, life expectancy rose by more than two years for men and nearly three years for women with incomes in the top 5%, according to a study for the Social Security Administration. During the same period, life expectancies for those in the bottom 5% of incomes rose a little less than four months for men and about two weeks for women.How benefits could change to be fairerTo restore actuarial fairness, the penalty for early filing should be lower, Munnell says. Someone who retires at 62 instead of 67 should get 22.5% less, rather than 30% less. Similarly, the bonus for waiting should be reduced to just below 7% per year.“The way it’s set up now, people will get 124% of their full benefit if they wait till 70 and they really should only get 120%,” Munnell says.Obviously, Social Security has bigger problems. Once its trust fund is depleted, as projected in 15 years or so, the system will be able to pay only 79% of promised benefits in 2035. That proportion is estimated to drop to 73% by 2094.When Congress finally gets around to fixing the system, Munnell says, it should consider making the payouts more fair.“I think there’ll be some grand bargain on Social Security at some point because I don’t think anybody’s really going to allow benefits to be cut 25%,” Munnell says. “This [actuarial fairness] probably should be put on the agenda.”This article was written by NerdWallet and was originally published by the Associated Press.More From NerdWalletHow to Renegotiate Your Bills to Save MoneyFeeling Out of Control? These Money Moves Could HelpRenters at Risk: Ways to Cope in the Financial CrisisLiz Weston is a writer at NerdWallet. Email: lweston@nerdwallet.com. Twitter: @lizweston. 4771
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