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What happens to social security funds once they are paid into the system?
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Can Va take percent of Social Sec funds?
No, the Department of Veterans Affairs (VA) cannot take a percentage of Social Security funds. Social Security benefits and VA benefits are separate and administered by different government agencies. VA benefits are based on military service and disabilities, while Social Security benefits are provided to individuals who have paid into the Social Security system through employment.
What happens to the funds acculmulated over a period of time of a Nursing Home Resident who received Social Security benefits but has since died?
Nursing Home resident has accumulated a large sum of money in her account, from which social security benefits were received. Resident has since died, the family was told that the funds will be returned to Social Security. Why? Should these funds not be transferred to the individuals Estate?
Can a creditor freeze your bank account although im on social security?
Social Security funds are protected against a lien on your checking account. However you will have to prove that the funds in your account are from Social Security. If there are other funds "commingled" then unprotected funds may be seized
Who funds social security?
we do from working.
Medicare funds are collected by?
social security adminisration
Did Eisenhower use Social Security funds to pay for Interstate System?
No, he did not. The system was mainly paid through fuel taxes collected by the States.
Does us government contribute to social security funds?
NO
Medicare funds are collected by what?
social security adminisration
Why did social security start?
because of retirement funds
Will Republicans use funds from social security to fund the tax cut?
There is no evidence to suggest that Republicans intend to use funds from Social Security to fund the tax cut. Social Security operates on its own funding system through payroll taxes and has a separate trust fund specifically designated for it. Any changes to Social Security funding would require separate legislation.
What happened in the 80s that caused an upheaval in the social security system?
In the 1980s, the Social Security system faced financial challenges due to a combination of factors, including an aging population, longer life expectancy, and changes in the workforce. To address this, the Social Security Amendments of 1983 were passed, which made several changes to the system, such as increasing the retirement age and adjusting payroll taxes.
What happens to a checking account with two signers when the funds are Social Security income belonging to the mother and the daughter files bankruptcy?
All Social Security Benefits are exempt from bankruptcy proceedings. If the daughter has no monies in the account then the account will not be a part of the BK. However if funds were commingled there could possibly be a problem with determining ownership amounts.
