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Social Security

U.S. OASDI social insurance system funded by FICA payroll taxes and originally created by the Social Security Act of 1935

3,984 Questions

Does lifelock protect your social security number?

Lifelock protects your social security number by monitoring applications for credit and services that use your social security number.
Lifelock is known to be able to protect a person's social security number. This is a large and well known company.

How much does Social Security give in survivor benefits in Ontario?

In Ontario, Canada there is no such thing as Social Security; instead there is a government program called Canada Pension Plan, or CCP. The benefits depend on different variables, such as how long the deceased paid into the plan.

What is retirement age if you were born in 1967?

67. Depending on what year you were born, full retirement age can range from 65 to 67. For those born 1937 or earlier, the retirement age is 65. For those born in 1938 or later, the retirement age gradually increases until it reaches 67 across the board for those born after 1959.

If you cut back to part time work for the last couple of years before retiring will it reduce your social security benefit?

Social Security Administration calculates your earnings based on the highest 35 years of income. So continuing to work part time will not lower your benefit amount. They even include years of zero income in the calculation if there are not 35 years of income recorded.

The retro pay am talking about is social security disability back pay seems like 6 month wait is to long is it?

I think it's way too long. I am homeless on the streets of California and it will be 6 months for me on the 29th of November. I won my case and was approved for disability and ssi on may 29th and I'm still waiting. It gets cold out here!!! I don't think they really care. I read a letter on SS website that said 18,000 plus people died over a three year period while waiting for social security. I am a U.S. veteran, I was hit hardest by hurricane Katrina in Biloxi, MS and I am 100% disabled and homeless for over 2 years now. No I don't think they care about when they are going to pay us or however long it takes. I am glad to see that someone else is also concerned....HANG IN THERE !! IT WILL EVENTUALLY COME......... BEN

Taxes deducted from an employee's earnings to finance social security and medicare benefits are called FICA taxes?

YES that is correct. FICA stands for "Federal Insurance Contributions Act." It's the tax withheld from your salary or self-employment income that funds the Social Security and Medicare programs.The (OASDI) Old Age Survivor and Disability Insurance (FICA) (social security and Medicare taxes) all mean the same tax for social security benefits (SSB or SSDI). All mean the same thing.

Explain Insurance as a social security tool?

Individual's income is dependent upon the investment of his time. Over a period of time, he saves sufficiently to provide for the time, when he is too old to earn. But no body can guarantee him this time.

This uncertainty of time leads him to the invention of insurance. The story goes of a newspaper hawker boy who used to go on cycle to distribute newspapers to earn his livelihood. One day, when he left his cycle outside a house and went in to deliver the newspaper, his cycle got stolen. He had thereafter no means to run around. Walking would be a slow process and his income would dwindle. The boy was a smart one. He called his other brother hawkers and narrated his story. Many others in the same job had similar stories to tell.

They just hit upon an idea. A cycle say would cost Rs. 100/-. There were almost 100 hawkers. Almost every year one cycle was getting stolen. Only if they could have a fund of Rs.100/-such a loss suffered by any of them could be compensated. And the creation of a fund of Rs.100/- merely means a contribution of Rs.1/- per person per year.

The concept of insurance was born. A co-operative society was created, where each member of the family contributed a small portion to provide for a possible big loss which was too big for any one to bear.

This crude beginning could later on be applied to varied circumstances. The traders, who sailed on the uncharted high seas, faced the risk of damage or total loss due to storm on the high seas. House--owners found the risk of fire to their house too ruinous to bear. Life being the most precious of the productive assets similarly needed to be protected.

Insurance, let it be noted, does not prevent the loss to occur. It cannot prevent thievery, fire, sinking of a ship due to storm or even death of the bread winner. Far from it, if they could be prevented, there would be no need for insurance. It is only the damages beyond the control of men, purely accidental, or due to fury of nature, which are subjects for insurance.

An intentional damage caused by the insured is an act of sabotage and is therefore a criminal action. In case of human life, even suicide, at least during the short period of one year, is beyond the pale of insurance.

We call life insurance a social security tool because without the provision of insurance, this human society would consist of hapless old people, helpless widows, unprotected orphans. The economy would not survive let alone grow.

The factories would not restart after a fire, houses cannot be rebuilt after an earthquake or a cycle or a motorcycle for that matter cannot be replaced after being stolen. Unlike a socialist society or a highly developed capitalist society where the State takes care of individuals who become destitutes or deprived, in a developing society like ours, the State is too poor to take up such responsibilities.

In the Directive Principles of State Policy, the Constitution of India makes certain mission statements. In article 41, it states that the state, within the limits of its economic capacity and development, shall make effective provision for securing the right to work, to education and to provide public assistance in case of unemployment, old age, sickness and disablement and in other cases of undeserved want.

What it has been able to do, is for anybody to see. There are certain insurance schemes floated for the socially disadvantaged, the details of which we shall discuss, when we proceed.

The declaration of Human Rights by United Nations similarly declares from the house top that every one has a right to a standard of living adequate for health, well-being of himself and his family including food, clothing, housing, medical care and necessary social services and the right to security in the event of unemployment, sickness, disability, widowhood and other loss of livelihood in circumstances beyond his control.

If wishes were horses, beggars would ride. Even in highly developed countries like Britain and United States where some medium of social security is available, insurance, both life and general is a thriving business.

Insurance is based upon the universal axiom, "God helps him, who helps himself". There are only three sources of income when calamity has befallen - savings, charity and insurance. Savings needs time to accumulate.

Normally in case of human beings, 90% of the income comes from investment of time and 10% of the income comes from savings. As one grows old, the ratio is reversed and 90% of his income comes from his savings and 10% from investment of his time. That is the ideal situation. But who can guarantee him the time - time to save adequately so as to reverse this ratio.

The second alternative - charity is too demeaning to be even considered as a proper alternative. The only viable alternative therefore is insurance. It is a product of individual's farsightedness, his present sacrifice for a future gain. It is commensurate with his self respect and dignity.

In case of a house burnt due to an accidental fire, he does not have to go to other members of the society begging help. Insurance thus creates a society of proud people who know how to take care of themselves even during difficult times. Insurance is thus a tool of social security par excellence.

What is medicare withholding rate?

1.45% on all of your gross earned income for the year with no cap or limit on the amount hat is to be withheld for the year.

Can you marry in the state of Kentucky without having a Social Security Number if your fiance does have one?

You should obtain a social security number. If there is another issue preventing your obtaining one, you will need to get it cleared up.

How do see your acct on line from social security?

Go the SSA gov web site for some information about social security benefits.

You probably will not be able to see your account information but that is where you will have the correct information that want or need from.

Click on the below related link.

Can you collect unemployment and Social Security in Illinois at age 62?

i was laid off today, not due to poor performance, budgetary concerns. planned on working till 66.5 ....I am 62 ...can I collect unemployment and social security>

Is Al Gore really responsible for taxing Social Security benefits?

What do you mean? That he personally is responsible for a tax on Social Security? If so, no. The tax has been on social security for years before Gore was in office. A Vice President doesn't have the power to do something like that anyway.

If you will file for Social Security and unemployment will either one of these amounts be reduced if you are in Detroit Michigan?

No. If you qualify under each program's guidelines, you will receive a full check for both Social Security and unemployment. Michigan no longer offsets unemployment compensation when you receive Social Security income.

How do you change your security question on battlenet?

A blizz blue post said this:

Please note that the First Name, Last Name, Secret Question, and Secret Answer on an account cannot be changed. In addition, the account name itself cannot be changed or reset. It is not possible to "wipe" an account or to re-use an Authentication Key for any reason. Once the key is used once and the account is created, that is permanent.

Blizzard Technical Support

"A working class hero is something to be......"

If you become emancipated will you still receive your social security check until your 18?

No...when you become emancipated you have all the rights as a 18 year old adult would. Meaning you have to work for your money. Sad day.

What are the benefits of quikbooks?

The advantages of quickbooks is if you have a small business it helps to keep track of your daily, monthly and yearly financial situation. You can easily print out your accounts for say tax purposes.

What was the cost of living increase in 2010?

The cost of living increased by an average of 1.6% in 2010, according to the Consumer Price Index (CPI) data. This was lower than the previous year's increase of 2.7%. Factors that contributed to the increase included rising food and energy prices.

What can be a valid social security number?

The one you were given when you became a citizen, anything else is invalid.

You have retired and your gross pension check is 91000 you are getting a job with a security firm and want to know if you have to pay ss taxes from the seurity job?

You didn't specify if your now collecting Social Security too, or just a pension.

While you may have retired from one job, your still working...albeit at another. An important additional consideration is that those earnings may effect the amount of social security you can collect now.

However, you don't need to pay SS contributions for earnings after you have reached your "full retirement age".
You do, however, need to report earnings for those months in the calendar year before the month you reach FRA. For example, if you reach FRA in May, you would need to report your earnings for the four earlier months. The law also changed the annual earnings limit for workers who reach FRA during the year. During those months before you reach FRA, your benefits would be reduced $1 for each $3 you earned over the limit which is $33,240 in 2006 and $34,440 in 2007.