The Social Security Administration is reinstating its plan to reclaim 100% of overpayments made to beneficiaries — a ten-fold jump from the current rate, the agency announced Friday.
By asking for 100% of overpayments to be repaid by recipients, the agency could save about $7 billion over the next decade, the Office of the Chief Actuary estimated. The new rate will take effect March 27.
“We have the significant responsibility to be good stewards of the trust funds for...
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