What would you like to do?
Yes, but... According to the Social Security Administration, the maximum benefit for a worker retiring at full retirement age is $2,116 per month in 2007. That is $25,392 per year. So the answer is yes. However, in order to receive that benefit, one must have had an annual income at or near the taxable maximum in the years leading up to retirement ($94,200 in 2006).
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If the child is of a deceased person who is receiving Social Security benefits, he may be entitled to Survivor's benefits under certain circumstances. See the Related Link be…low for more information.
If you are already receiving social security and are fired can you receive unemployment benefits?
Unless you are blind or disabled, the earliest you can receive benefits is at age 62,
Yes. However, 3 states will offset your unemployment benefits by 50% of the amount of your Social Security payments (Illinois, Utah, and Virginia).
Yes, if you meet eligibility requirements for both programs. Texas repealed the Social Security offset regulations that reduced unemployment compensation for people who were… claiming both benefits. Both Social Security and the State of Texas allow workers to collect unemployment and Social Security at the same time without applying a penalty to either check.
A survivor Social Security benefits? A widow or widower can receive benefits at any age if she or he takes care of the deceased worker's child who is entitled to a child's ben…efit and younger than age 16 or disabled. A deceased worker's unmarried children who are younger than age 18 (or up to age 19 if they are attending elementary or secondary school full time) also can receive benefits. Children can get benefits at any age if they were disabled before age 22 and remain disabled. For more information on survivors benefits, see our publication "Survivors Benefits". Go to the SSA.gov web site SOCIAL SECURITY BENEFITS ONLINE Click on the below Related Link
If you receive pers retirement and apply for social security at age 66 will your social security benefits be penalized?
Yes you can choose to receive your monthly social security check in the mail if that is really what you want to do.
It depends on the type of Social Security benefits the minor receives. Disability benefits would mean he is unable to work.
Can you receive cash benefits from your retirement if you are not retirement age and have less than 15 years with company you are receiving social security disability payments?
You should get this information from the trustee of the retirement plan. But for income tax purpose you should be able to BUT the taxable amount of the distributions will be… subject to income taxes at your marginal tax rate. It is also possible that from 50% to 85% of your SSB can also become taxable income at your marginal tax rate on your 1040 federal income tax return. When you are under the age of 59 1/2 the taxable amount of the distribution will also be subject to the 10% early distribution penalty plus income tax at your marginal tax rate.
You can receive it for a qualifying child.
No. There really is no such thing as "unclaimed" Social Security benefits. If a person pays FICA (Social Security and Medicare) taxes but dies before he or she can collect ben…efits, his or her widow or widower and minor children, or adult children disabled before age 22 (if applicable) can collect monthly checks for survivors' benefits. Able-bodied adult children or those who became disabled after age 22 cannot collect money from a parent's Social Security (FICA) contributions. The unpaid amount remains in the Social Security trust fund. It is possible that a deceased parent was due one monthly Social Security payment at the time of death. Under these circumstances, the benefit can be paid to the next of kin. For more information, see Sources and Related Links, below.
Yes, they are separate and unconnected programs.
You can receive social security benfits at the age of 65 or if you were born after 1959, 67. This is said to possibly increase with the increasing number of older individuals …in our country and the dwindling number of younger individuals putting money into social security.
See discussion page.