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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
If your only income is Social Security do you need to file tax returns?
Perhaps. It depends on whether you have enough non-Social Security income to be required to file an income tax return. Also, for 2007 and, possibly, 2008, you may qualify for an economic stimulus rebate, but only if you file a return. You can find a form on the internet or at the library. Just because IRS didn't send you a form, doesn't mean you are exempt from filing.
A scheme where an intruder quickly follows an authenticated person through a security checkpoint?
Piggybacking
In California can you collect unemployment after state disability?
You can collect unemployment after state disability if you are healthy enough to return to work, and your employer terminated your employment during your disability. The termination can not be related to your job performance.
Can a child receive social security benefits if on parent dies?
According to the Social Security Administration to qualify for benefits, you earn "credits" through your work - up to four each year. When someone dies, their survivors may qualify for benefits if you have to earned enough credits, young people need fewer credits to be eligible. The law governing benefit amounts may change. For more information you need to visit socialsecurity.gov. You can also visit govbenefits.gov because you may also qualify for government benefits outside of social security
What determines a dollar amount of a retired employee's month social security check?
The number of fiscal quarters the employee worked during his or her lifetime and the amount of money the employee contributed to the Social Security Trust Fund
How much can you earn while on Social Security at age 67?
At age 47, the only forms of Social Security you can collect are survivors' benefits (if you are a widow or widower, or an ex-spouse raising minor children under age 16) or disability compensation. The two programs operate under different rules and regulations.
Survivors' Benefits
Earned income may affect the amount a survivor(s) can receive in benefits, but the formulas used for calculating these benefits are complex and dependent on many variables. You should discuss questions regarding survivors' benefits directly with the Social Security Administration.
Disability Benefits
In 2010, People on disability can earn up to $1,000 per month ($12,000 per year) for most disabilities, or $1,640 per month ($19,680 per year) if legally blind. Earning more than these limits would be considered engaging in Substantial Gainful Activity (SGA), would trigger a continuing disability review, and likely result in termination of the person's disability status with Social Security.
If you decide to return to work, the SSA allows nine non-consecutive months where earned income is unlimited; however, any month a disabled person earns more than $720.00 is counted toward the nine-month trial work period.
You can speak with a Social Security Representative by calling 1-800-772-1213 Monday through Friday between the hours of 7:00 am and 7:00 pm. This is an automated information line, so be prepared to jump through some hoops before you reach a live representative.
What is the maximum Social Security withholding for 2010?
The 2010 cap is the same as in 2009, $106,800.00, at which point the Social Security amount withheld would be $6,621.60 (6.2%).
There is no cap on the Medicare insurance contribution, so the 1.45% amount will continue to be withheld on all earnings, and will be matched by your employer at the 1.45% rate for a total 3.90% for the year.
How do you write your social security number?
You can visit your local Social Security office to apply for or get a replacement Social Security Card. You will need to have your birth certificate and a picture ID to get a replacement card.
Will people on ssi receive an increase due to the stimulis paceage?
No, they will not. People on all kinds of Social Security will not get a COLA (Cost of Living Adjustment) this year, per the recent news reports. In fact, people in California on SSI received two actual cuts to their benefits the first part of this year, aside from massive Medicaid cuts. SSI is basically a state benefit, and it will go according to state.
Can you get Social Security early?
You can get it as early as 62, or get hurt and become permanently disabled.
When will you get your rebate check?
The last two digits of your social security number determines when your stimulus rebate will be sent.
If you filed your tax return by April 15th and entered your direct deposit information your rebate will be sent on or before these dates:
May 2nd if the last 2 digits of your SSN are 00 - 20
May 9th if the last 2 digits are 21 - 75
May 16th if the last 2 digits are 76 - 99
If you filed your tax return by April 15th and did not enter any information to facilitate electronic funds transfer then your rebate will be sent on or before these dates:
May 16th if the last 2 digits of your SSN are 00 - 09
May 23rd if the last 2 digits are 10 - 18
May 30th if 19 - 25
June 6th if 26 - 38
June 13th if 39 - 51
June 20th if 52 - 63
June 27th if 64 - 75
July 4th if 76 - 87
July 11th if 88 - 99
---- If instead you are speaking of the refund you are receiving from your taxes, it generally takes the IRS 4 - 8 weeks to process and send the check to you.
How much will a Down syndrome adult receive in social security disability income?
I am wanting to know how much money a down Syndrome child can receive in disability a month? And can both parents drawl the money if he is shared back in forth every other week?
Do employers usually check your social security number before they hire you?
No, employers are required to check Social Security numbers.
How much money can I earn after I retire and start collecting Social Security at age 62?
Yes. If you retire at age 62, you can earn $1,180 per month ($14,160 per year) in wages and an unlimited amount of income from passive sources, like 401k, annuities, dividends, non-government pensions, etc.
The most you can earn in any year prior to reaching full retirement age (most likely 66) is $14,160. If you exceed the limit, the SSA will temporarily reduce your future benefits by $1.00 for every $2.00 earned over the cap. Social Security will withhold your benefit check beginning in January of the following year until the entire overage has been offset.
How much can you make at age 62 when you retire?
Before you wax nostalgic for the good old days when you could count on pensions and Social Security to support you in your golden years, remember that those days were relatively brief -- not so much an era as an aberration.
The whole concept of retirement is fairly recent, an experiment that began with the creation of Social Security in 1935, observes Ken Dychtwald, a gerontologist and authority on aging in the U.S.
With the country facing massive unemployment during the Great Depression, Social Security was a way of providing older workers with guaranteed income so that they could leave their jobs, freeing up slots for younger workers.
"No one considered whether a life without work would be satisfying or sustainable," says Dychtwald. Even when traditional pension plans were at their peak in 1985, fewer than half of Americans working for private companies were covered.
As the leading edge of the baby-boom generation turns 60 this year, "it's time to retire retirement," declares Dychtwald, author of The Power Years: A User's Guide to the Rest of Your Life.
And he doesn't think that's necessarily a bad thing: "Like a great dessert, too much leisure can make you sick after a while. Boomers don't want to fade into obscurity. They want to trade success for satisfaction."
What are the benefits of kickboxing?
the benefits of kickboxing are losing weight, getting new skills and, most of all, having fun.
What is the maximum you can earn in 2011 if you draw Social Security at 64 years of age?
Earnings limits for 2011 are unchanged from 2010.
The earnings limit for 2011 for people below full retirement age (65 for people born before 1943; 66 for those born between 1943 and 1954) is $14,160.
If you retire at age 64, you can earn any amount before retirement without incurring a penalty; however, once you retire, you can only earn $1,180 per month. If you earn more than the income limit, SSA will deduct $1.00 for every extra $2.00 earned.
Your benefit check will be withheld beginning in January of the following year until the overage is completely offset. This can result in no Social Security income for a number of months, depending on how far you went over the limit.
In the year you reach full retirement age (66), you can earn $37,680 annually, but for every $3.00 over the limit, $1.00 is withheld from your benefits until the month your reach full retirement age.
The income cap is lifted completely and permanently the month you reach full retirement age.
Is the best definition of Social Security?
a program of old-age, unemployment, health, disability, and survivors insurance maintained by the U.S. federal government through compulsory payments by specific employer and employee groups. the theory or practice of providing economic security and social welfare for the individual through government programs maintained by moneys from public taxation.
a national retirement program that all employees have to participate in and to which all employers have to make financial contributions.
What committee has oversight over social security?
The committee on ways and means oversees taxation and Social Security.
Can you apply for Social Security at age 59?
No, the earliest you can collect Social Security retirement benefits is age 62. While you may be able to retire at age 55, you will need to have other resources to draw from until you are eligible for Social Security.
Retiring at age 55 is difficult for most people. Not only are not you not eligible for Social Security for many more years, but in general, you can't access your retirement accounts until you reach age 59 1/2. Also, you don't qualify for Medicare until age 65. All of these combined make it very difficult for the average person to retire at 55.
If you are retiring because of disability and qualify for Social Security disability benefits, you can collect those before age 62.
Will your unemployment be reduced if you draw Social Security?
No. They are 2 separate programs altogether. Social Security is run by the Federal Government and unemployment, although under Federal law, is administered by the states and funding comes from the states assessing the the state's businesses based on the business' labor turnover rates. Therefore, neither program is affected by the operation of the other.
How much income can you earn in 2010 and collect Social Security at age 62?
For the 2010 tax year, the answer depends on your age and whether you're drawing Social Security benefits for retirement or disability.
Retirement
If you've reached full retirement age (65 for people born prior to 1943; 66 for people born between 1943 and 1954), there is no limit to how much you can earn.
In the year you reach full retirement age, you can earn $37,680 annually, but for every $3.00 over the limit, $1.00 is withheld from your benefits until the month your reach full retirement age.
If you are under full retirement age, you can earn $14,160 per year without incurring a penalty. For every $2.00 over the limit, $1.00 is withheld from benefits.
Disability
People on disability can earn up to $1,000 per month ($12,000 per year) for most disabilities, or $1,640 per month ($19,680 per year) for anyone legally blind. Earning more than these limits would be considered engaging in Substantial Gainful Activity (SGA), would trigger a continuing disability review, and likely result in an end to the person's disability status with Social Security.
Any month a disabled person earns more than $720.00 is counted toward the nine-month trial work period, and may result in a continuing disability review (CDR).
