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Social Security will last as long as there is political will to maintain payroll taxes to pay for it. It is not slated to go "bankrupt" - that is, to be completely out of money. There will be money in Social Security as long as taxes are collected to put into the system. What is expected to happen, barring some type of reform, is that at some point in the future (and the horizon for this event depends in some measure on the state of the economy), Social Security will not have sufficient funds to pay 100% benefits. Instead, there will be sufficient funds to cover only around 75% of the benefit amount.
What else can I help you with?
Is social security based on the last 5 years of work?
No, Social Security benefits are based on your lifetime earnings, not just the last 5 years of work.
What exactly is the social security death index?
The social security death index is a file that contains a record of all deceased persons who had a social security number. The list is updated weekly and contains the first and last name, social security number, birth date, death date, and last known residence of each individual.
When was the Social Security tax cap last changed?
The Social Security tax cap was last raised in 2009, increasing 4.7% from $102,000 to $106,800. It remains unchanged for 2010 and 2011.
Can a social security recipient outlive his social security?
No. Once one begins receiving Social Security benefits, they are received for life, regardless of how long the person lives.
Is the wife of a deceased military man eligible for his social security?
Yes, but it depends on how long they are married. Call social security.
When married how long can I use my new wife's social security?
You don't ever use someone else's social security.
Is there any number in your social security number that relates to the letter in your last name?
No
How much does it cost to have your last name changed on your Social Security Card in Florida?
There is no charge to have your Social Security records amended and updated, all that is needed is the required documentation. Visit the Social Security Online website for complete information concerning the procedure.
how long will it take to recieve my new borns social security number?
It will take minimum three weeks to get social security number for your new borns.
Where do I get my Social Security benefits information from previous employment?
Consult your last employment department and ask for information.
Why did the social security act last so long?
The Social Security Act lasted so long because it was designed as a social safety net to provide financial security for retired individuals, as well as for disabled individuals and the dependents of deceased workers. It has been able to adapt and evolve over time, making necessary adjustments to ensure its sustainability and effectiveness. Additionally, the Social Security Act has enjoyed broad public and political support, making it difficult to dismantle or significantly alter.
How long do you have to work in order to be eligible to collect Social Security benefits?
In order to be eligible to collect Social Security benefits, you generally need to have worked and paid Social Security taxes for at least 10 years, or 40 quarters.
