Social Security Reinstating 100 Percent Monthly Recovery Rate for Overpayments

The SSA said its chief actuary estimates the change will save about $7 billion over the next decade.

Social security administration in Waycross, Ga., on Aug. 28, 2024. Madalina Vasiliu/The Epoch Times

The Social Security Administration (SSA), as of March 27, will again start holding back 100 percent of a beneficiary’s monthly benefits to recover overpayments.

Prior to March last year, when the SSA overpaid a beneficiary, the department withheld 100 percent of the recipient’s monthly benefits until the overpaid amount was recouped. On March 29, 2024, the Social Security Administration said it was changing the withholding rate, with the agency only collecting 10 percent of monthly benefits or $10, whichever is greater, for recovering overpayments.