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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
Can your divorced spouse draw off your social security?
If you were married at least 10 years and the spouse has not remarried, then he/she would receive the standard 50% share from your social security pension. It does not lower your payments however.
Parenthetically, you can remarry and get divorced numerous times, and the spouse will each get 50% share (assuming that they were each married for minimum 10 years)
Did Kennedy borrow money from social security?
Roosevelt used SS funds to build the Atomic Bomb, Truman used SS Funds, Eisenhower used SS to build the Interstate and Kennedy and every President since has used SS Funds. The so called Social Security Trust Fund exists in name only, and they are comingled with the general fund.
The above is an over-simplification of the SS Fund. Money collected for SS goes to the SS Administration, which uses the proceeds to pay out current claims, then looks to put the surplus funds into some place to save it for future use. The safest place to invest such money turns out to be U.S. Treasury bonds - thus, the SS Administration goes to the bond market, and buys US Treasury bond. These bonds are a U.S. Government "I.O.U." to the holder, to pay them back their principle, plus X amount of interest, 30 years (usually) in the future.
Thus, the funds' AREN'T co-mingled, or "raided", or otherwise. Rather, the SS Administration is the largest creditor of the U.S. government; the impact of this is that Congress has become lazy, being seduced by the easy availability of credit (as they can count on the SS Administration to buy any U.S. Treasury bond that Congress has them float to pay for projects). The concern is that the normal U.S. budget (which does NOT include the SS fund) has failed to account for the fact that the SS Administration is lowering its purchase of bonds (as the yearly expenditures of the SS go up while SS revenue goes down, due to demographic changes), and that the SS Administration will shortly begin to actually cash in bonds (i.e. expecting money back). The normal U.S. budget hasn't taken into consideration that the SS Administration won't be a huge creditor anymore, and, in fact, will begin to "pull out" money from the U.S. government, rather than invest in it.
The above is complex, but, the reality is that the actual SS fund ISN'T directly being raided for anything. Rather, the normal U.S. budget process has become addicted to the easy credit that the SS fund has provided.
As a side note, the time period where the SS annual expenditures outweighs annual revenue is coming soon - likely sometime around 2023. However, the actual Fund itself still has significant savings at that point, and it will take about another 15 years before the fund is actually "broke" (i.e. has redeemed all the U.S. bonds it has, and still expenditures outweigh revenue).
Many parents ask whether their children are able to work at a part time job if the child is receiving SSDI benefits based on the parent's disability.
To answer this question, it is important to first provide the framework about how a child first qualifies for dependent SSDI benefits.
First, a child does not have to be disabled to receive these benefits. Only the parent must be disabled and also entitled to receive SSA benefits. The child must be under 18 or can be 19 and receive benefits if still enrolled in high school. The child can be biological, adopted or a stepchild.
A child's SSDI benefit is based on the parent's lifetime earnings history. A child can receive up to half of the parent's monthly benefit. There is a family maximum though, for cases where multiple dependents are receiving benefit based on one disabled parent. For example, if you have three biological children and two stepchildren, and they are all dependent on the disabled parent, SSA uses a formula to determine maximum family benefit (MFB). Many factors go into the calculation, but in general, the parent's benefit amount is never reduced. Benefits that each of the children are receiving will be reduced proportionately if they exceed the MFA.
The child must also be financially dependent on the disabled parent. But what does that mean? Basically, a child can work but must not earn a substantial amount of money. The SSA defines "substantial" as earning more than $1,130 per month, so as long as the child's earnings fall under that amount, he or she can have a job. Child ownership of stocks or property may be considered as income by the SSA, so it is best to make a list of all child earnings.
In some cases, a child can be eligible for benefits from their grandparents. The SSA also has survivor benefits for children in cases where a parent has died, but did work long enough to pay SSA taxes. Survivor benefits can pay up to 75 percent of the parent's monthly benefit.
For children of very low income parents, the SSA has a different program they may qualify for. It's called Supplemental Security Income (SSI), and is designed to help low income, elderly and disabled people. SSI is a basic needs program providing money for food, clothing and shelter. Get more information on Social Security Disability benefits @ linerlegal.com/social-security-disability or you can download free SSD ebook and case review.
Over 4 million American children receive SSDI benefits totaling $2.6 billion annually. The goal of this program is to provide money to the families to help the children graduate from high school. Stabilizing the family income during those years helps tremendously in achieving that goal.
Can you switch from regular social security to disability?
this is in terms here social security IS disability it's called "social security disability income" or short "S.S.D.I." the only other one is really S.S.I. which is "supplemental security income" now just saying "I get social security" is disability , as in no longer able to work...generally speaking due to age or disability all the same fund that you paid into while working..S.S.I you can also apply for and sometimes get along with other S.S.A. (social security administration) monies
What was the social security income cap in 2008?
If income is earned in the year of full retirement age, the 2008 income threshold is $36,120. If income is earned prior to the year of full retirement age, the 2008 income threshold is $13,560. After those thresholds are reached, social security benefits are reduced.
The excess earnings reduction is $1 of Social Security benefits for every $2 of earnings over the lower threshold for people who are not yet in the year they reach full retirement age. In the year a person reaches full retirement age, the excess earnings reduction is $1 of Social Security benefits for every $3 of earnings over the higher threshold. During the month of reaching full retirement age and thereafter, beneficiaries can earn an unlimited amount without a reduction in their Social Security benefits.
Do you pay taxes if you receive a 1099 while on social security?
Many independent contractors (those who receive a 1099 tax form) do not make FICA contributions. Unfortunately, if you don't pay into the Social Security trust fund, you may not be eligible to collect benefits from it later.
What state pays the highest disability benefits?
SUPPLEMENTAL SECURITY INCOME (SSI) BENEFITS
the maximum Federal SSI benefit changes yearly.
SSI benefits will automatically increase in 2013 because there was an increase in the Consumer Price Index
Effective January 1, 2013, the Federal benefit rate is $710 for an individual .
Some States supplement SSI benefit with additional payment. total SSI benefit levels higher in those States.
SSI benefit amounts and State supplemental payment amounts vary based upon your income, living arrangements,
Alaska 1,036.00
California 866.40
Connecticut 842.00
Kentucky 846.00
New Jersy 824.05
Ohio 1,180.00
District of Columbia
$710.00
Vermont $762
The following States pay their own supplemental payments and you may contact the State for payment information.
Alabama 734.00
Alaska 1,036.00
Arizona NONE
Arkansas NONE
California 866.40
Colorado 699.00
Connecticut 842.00
Delaware 710.00
District of Columbia
Adult foster care home
1,159.00
Florida 752.40
Georgia ?
Hawaii 710.00
Idaho 727.00
Illinois ?
Indiana ?
Iowa 710.00
Kansas ?
Kentucky 846.00
Louisiana ?
Maine 684.00
Maryland 740.00
Massachusetts 788.39
Michigan 710.00
Minnesota 735.00
Missouri ?
Mississippi NONE
Montana 710.00
Nebraska 679.00
Nevada 710.40
New York 761.00
New Jersy 824.05
Montana 710
New Hampshire 688.00
New Mexico NONE
North Dakota NONE
North Carolina ?
Ohio 1,180.00
Oklahoma 716.00
Oregon ?
South Carolina NONE
South Dakota 689.00
Tennessee NONE
Texas NONE
Virginia ?
Washington 720.00
West Virginia ?
Wisconsin 757.78
Wyoming699.00
The states with Social Security-administered supplemental payments are:
Maximum payment for individual
living independently (2013)
State
Congress introduced Supplemental Security Income as Public Law 92-603, an amendment to the Social Security Act, which was enacted and became effective on October 30, 1972.
How do you strip someone naked?
Some gyms offer strip classes (pole dancing). There are also some videos that teach the technique. Search the internet for videos. First, you should get some reallly nice lingerie. Like an extreme push up lacy bra and lacy thongs. Then you should put on a cute button down shirt and wear a skirt. Put your hair up in a ponytail too. For shoes, wear stillettos. You first want to very slowly unbutton a few buttons and wiggle your butt a bit and put your hand underneath the shirt and make some sexy facial expressions. Then slowly take the ponytail holder out of your hair. Then you want to mess your hair up a little and go close to the guy and wiggle your chest. Afterwards, lift up your skirt a little bit and make those expressions on your face. Unbutton a few more buttons and smile or something and then pause. Then unbutton all the buttons. Find some sexy way to pull the shirt off and throw it at him. It doesn't have to land on him just throw it at him. Next put your foot right by him and touch your legs and your stilettos and then pull them off one by one. Now you will be barefoot in your bra and wearing your skirt. Now work on the skirt. Pull it down a bit so your thong shows and look at him. Then pull your skirt all the way down. step out of it and now you'll be in your bra and thong. dance around a bit and go to a wall and shimmy up and down it a little. then walk in front of him and unfasten your bra. Let it hang like that a little bit. and pull of your thong a bit and then you know the rest :] and do look up some videos. they will help.
Can a person receiving disability benefits with direct deposit to the bank be levied?
Accounts that have social security and ssi fund contained it it can not be levied account to federal law.
Can you report a tenant to a credit bureau even if you don't have their Social Security Number?
Go to www.reportenantdebt.com For about $15 you may report tenant debt to Experian, Equifax and TransUnion.
If you know the ss# then I don't see why not.
- YES!! Join the National Association of Independent Landlords (=NAIL!) and Nail them! It's only $69.99 and you can submit late payments, bounced checks, judgments etc. to Experian. Just don't give them the keys until you have their soc. sec. nos and license plate # good too (incase you can seize their vehicles). Everything is stacked against you as as landlord--the most uneven playing field around so proceed with caution. BTW, the United Way helps to fund all that endless free legal defense those "poor" tenants get. Finally, every tenant I've ever had a problem with has new plasma TV and drives a nicer car than I do!!
No. Individual creditors. landlords, lending institutions, etc. do not report judgments to the credit bureaus.
Judgments are obtained by the bureaus or by their contracted associates from court records where the judgment was entered.
- Actually, yes .. albeit indirectly. I had a landlord who sold an alleged debt I owed him to a debt collection agency. The debt collectors contacted the credit bureaus and had an unpaid account placed upon my credit report. It's still there ... will be for another 4 years ... and I have been denied loans because of it even though it is now paid (easy way out at the time!). No court case, no court records to be obtained. Reported to the bureau by a debt collection agency that purchased a disputed debt without proof that the debt was in fact owed. Ain't the USA just grand!
Your judment will show on your debtor's credit report as a public record. You may also enter the debt as a collection account via a collection agency. If you need help, let me know. Bill@thelandlorddoctor.com www.thelandlorddoctor.com
Will you get Medicaid while on Social Security disability?
That depends on your circumstances and monthly income. If you qualify for SSI (Supplemental Security Income) in addition to SSDI (Social Security Disability Insurance), you will usually also qualify for Medicaid, but the program is state-administered, and each state sets its own guidelines for eligibility.
People on SSDI can receive Medicare (the federal program) approximately two years after the date the Social Security Administration determines you became disabled. This is often earlier than the date your cash benefits were approved. In a few special cases (people with ALS or kidney failure, for example) there is no waiting period.
If your total monthly income falls below a certain percentage of the federal poverty level, the Social Security Administration will pay your premium for Part B (doctors' visits) and typically Part D (medication) insurance, as well.
For more information, see Sources and Related Links, below.
What party started medicare or social security?
The Democratic Party under President Franklin D Roosevelt (for Social Security, 1935), and the same party under Lyndon Johnson for Medicare (1965).
How much money do you have to earn to stop paying social security taxes in the year 2011?
106,800. That amount went up in 2012 to 110,000. According to the Offical Social Security Website.
How much does the us government spend on social security and medicare annually?
Well, it is tough to say the exact number. However Medicare and Medicaid are mandatory spending for the government. Medicare and Medicaid, last year, were a combined 26% of the U.S. federal Budget
Can i apply social security benefits since i'm 61 years old?
am 60 year can i draw ss and keep working??
i am 61 year old
Can you draw Social Security and still draw unemployment in Wisconsin?
Yes. You can draw Social Security retirement benefits and Wisconsin unemployment benefits at the same time. If you are on Social Security disability, you're taking a risk because state of Wisconsin requires all unemployment recipients to be willing and able to accept full-time work. This creates a conflict, because you're generally not eligible for Social Security disability benefits if you're capable of full-time work.
The Wisconsin Department of Workforce Development requires you provide your Social Security number, or they won't process your claim (authorized under Internal Revenue Code of 1954, 26 U.S.C. 85, Sections 6011(a), 6050(b), 6109(a), P.L. 98-369, Section 1137(a)(1) and under Wisconsin Statute Section 108.04(2)(e)). The rules clearly state that they will share information about your claim with other government agencies to determine how unemployment affects other benefits you may receive, such as Medicaid and food stamps.
The conflict between simultaneously claiming to be incapable of "Substantial Gainful Activity" (SGA), which generally translates to full-time work, and contractually agreeing you're willing to accept full-time work (under Wisconsin rules) in exchange for unemployment compensation, has the potential to trigger a Continuing Disability Review (CDR), which may result in the SSA determining you no longer meet disability requirements.
If you believe your circumstances may create an exception, you can call the Social Security Administration anonymously at 1-800-772-1213, explain your situation, and ask their advice.
Can you draw Social Security Disability and Social Security?
No. Someone cannot receive both Social Security retirement and disability benefits at the same time. Social Security Disability Insurance provides monthly benefits to individuals who are under full retirement age (age 65 and/ or older) and who can no longer work because of a severe disability. The impairment must be expected to last for more than 12 months.
How is social security funded?
Social Security is funded by a wage tax. The employee pays 6.2% of all wages up to $102,000 (this is the 2008 maximim, it increases every year). The employer pays an equal amount for a total contribution of 12.4%
What is considered earned income after retirement age?
Any type of payment that you worked for would be Earned income it can be any type of payment items, money, bartering, self employment, any type of payment or property, etc that you receive for providing your services working for any one.
Go to the IRS gov website and use the search box for What is Earned Income?
If you were born on April 7 1942 when can you draw your full Social Security benefits?
You could have drawn your full benefit at age 65 and ten months. Your first check could have been paid for March of 2008. Every month you don't file for benefits, your monthly benefit will increase 5/8 of 1% for every month past your full benefit age, up to age 70. Benefits are reduced five-ninths of one percent for each month
you are retired before age 65 and 10 months, up to a maximum of 24.2 percent for people who
retire the month they reach 62. But remember, by taking benefits earlier,
you'll receive S.S. checks for a longer period of time. For complete information, visit the Social Security Administration website at: www.ssa.gov
What are the major components of social security?
Old age insurance for retirees 65 and older and their spouses
unemployment compensation system
aid to familieswith dependent children and the disabled
Can you receive private disability payments and also receive social security disability payments?
Yes, if you own a private Disability insurance policy, the guidelines and benefits are accounted for separately from Social Security benefits. A person can be eligible to receive both benefits.
A private Disability policy can have two types of benefits: Base and Social Insurance benefit. Base benefits are payable regardless of Social Security benefits. Social Insurance benefits will offset dollar-for-dollar with any Social Security benefits you are eligible for.
You can revert to your original Disability insurance policy, or policy summary to determine whether you have base or Social insurance benefits. You can also contact the insurance company your policy was written through to confirm this information.
What President gave us Social Security?
Franklin Delano Roosevelt (January 30, 1882 - April 12, 1945), often referred to by his initials FDR, was the thirty-second President of the United States. Elected to four terms in office, he served from 1933 to 1945 and is the only U.S. president to have served more than two terms. He was a central figure of the 20th century during a time of worldwide economic crisis and world war. During the Great Depression of the 1930s, Roosevelt created the New Deal to provide relief for the unemployed, recovery of the economy, and reform of the economic and banking systems. Although recovery of the economy was incomplete until almost 1940, the programs he initiated such as the Federal Deposit Insurance Corporation (FDIC), Tennessee Valley Authority (TVA), and the United States Securities and Exchange Commission (SEC) continue to have instrumental roles in the nation's commerce. One of his most important legacies is the Social Security system.
