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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
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.
What is the cost of Medicare under Social Security Disability?
$98.00 a month Actually, in '08 & '09 it is $96.40. Changes yearly. Please do not use this site for Social Security information Call 1-800-772-1213 or visit www.socialsecurity.gov for answers. Take information from anywhere else at your own risk.
Can you go to jail for signing and cashing someone else's social security check?
They may do, to do this is a criminal offense.
Can you live without social contact?
As long as it makes you happy. I haven't had friends for three years (and counting) and I'm doing well, not putting up with their drama or listening to them mope about their lives.
The less friends you have, the better off you are.
Can a social security disability check be garnished in Kentucky?
yes, in a way it can be garnished. my brother wrote some bad checks went to court over it and they garnished his check after it hit his bank account. the bank and the court had it set up to where the amount would be withdrawn shortly after the deposit was made.
....NO, only if you fail to answer a court hearing and get a judgement against you, THEN, fail to invoke your exemption status ! Only in the cases of back taxes and back child support can Social Security be taken from your account. That is, unless you fail to claim your exemption, then the bank will forward it on ..gotta get off your a$$ to the the above answer.
Can you collect pension and still work full time?
If you are collecting Social Security and are over full retirement age you can work without reducing your social security based on your income. You may see some taxation above a $50,000 yearly income. For other pensions, there are usually limitations for working the first year or so after retiring with the pension. For mine, the limitation for the first year is no more than 19 weeks of more than twenty hours of work.
What percent of an individuals income goes to social security?
FICA contributions, including various sub (categories of things like SS, Disability, Health, etc) are 15.30% of FICA wages. What is considered FICA wages differ from other wage considerations in many ways, (it has a top limit that changes regularly of about 97.5K, how pension contributions factored, State taxes, etc.).
If you are an employee, the employer MUST pay half of the contribution (so you only directly pay 7.65%). If your self - employed, the amount normally paid by the employer is collected through something called the "self employment tax" when you file your income tax return.
What is the minimum amount from social security?
For an employee with an employer withholding the 6.2% the employee minimum contribution amount would also be 6.25% of the gross wages (earnings)
10 X .0625 = .63
100 X .0625 = 6.25
Do Oklahoma public school teachers pay social security?
Yes, according to this site (see LINK). Oklahoma is not on the list of states that do not pay into social security.
Can a divorced wife received benefits from her deceased ex husband from the VA?
You'd need to consult legal counsel on this matter. You may or may not be, depending on a number of factors, depending on how long you've been married, how long you were married to him while he in the military, etc.
Can you collect ssi benefits for your disabled wife?
No, to receive social security disability you must be considered disabled under the social security's listing of impairments.
No. The Social Security Administration will only pay one benefit -- either retirement or disability, but not both. If you qualify for disability before you reach full retirement age, your monthly benefit will automatically convert to retirement at the same monthly rate once you reach full retirement age.
If you are already receiving early retirement, you do not qualify for disability because you've voluntarily elected not to work in return for a reduced monthly benefit.
If you think your situation may present an exception, you can contact an SSA representative at 1-800-772-1213, Monday through Friday, 7:00 am - 7:00 pm EST, to discuss your options.
How do you find out if someone if fausly using your social security number?
get a credit report and look and see if there are things on it that's not your if there is call the credit reporting ageanys and then go to your local pd to report it they will then tell you what to do next
If you are drawing Social Security do you still pay FICA?
Yes. If you work after retirement, your employer is still required to withhold 7.65% of your first $106,800 of gross income for FICA, and to pay a matching amount from company funds on your behalf.
Is social security a regressive or proportional tax?
Social Security Taxes are a Proportional Tax. A Percentage of a person's income is paid to Social Security, this is half of the total amount paid to them, the Other half of a person's Social Security Tax is paid by the Employer.
What will the social security raise be for 2012?
No. Congress recently announced there will be no cost of living adjustment (COLA) for Social Security benefits in 2011. Earn-income limits will remain at 2010 levels.
Can a sixty five year old illegal immigrant get social security benefits?
The only way anyone can receive social security benefits is if he/she has earned at least 40 credits (yearly maximum credits=4) or if they are a surviving spouse of someone who has done so. These credits must accrue to a legitimate social security number, not to a false number used by illegals to get a job. There has been a rumor for years that the Carter administration enacted a law to pay illegal's benefits at age 65. This is completely false. "Totalization", which combines social security credits earned in the US (legally) with those earned in one of 20 countries that the United States has an agreement with, is best described here: www.snopes/inboxer/pending/mexican.asp.
What happens when social security numbers run out?
Which translates to, there would need to be nearly a billion citizens of the united states. In which case I imagine they will move to 11 or 12 digit numbers and a lot of computer software will break
Does a social security payment become the child support?
It's more like the other way around. If the child's RSDI benefit is based on the obligor's SSA account, it is considered child support. If that benefit exceeds the amount ordered for child support, the obligor does not owe any additional payment.
What is the maximum amount you can collect from Social Security?
Retirement (2010)
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 (2010)
Most people on Social Security Disability (SSDI) can earn a maximum of $1,000 per month, or $1,640 per month if blind. Any earned income in excess of that amount is considered Substantial Gainful Activity (SGA) and can result in temporary or permanent loss of disability status.
What is the limit you can earn while receiving ss?
This question is an important one because many people living in retirement communities either need to or want to work in retirement. This question pertains to what is called the earning test. If you are under Full Retirement Age (FRA) when you start getting your Social Security payments (for example, you start taking benefits at 62), $1 in benefits will be deducted for each $2 you earn above the annual limit. For 2012 that limit is $14,640. In the year you reach your full retirement age (66 for baby boomers) $1 in benefits will be deducted for each $3 you earn above a different limit, but only counting earnings before the month you reach FRA. For 2012, this limit is $38,880; for 2007. There is NO limit on your earnings starting with the month you reach full retirement age.
Who issues Social Security numbers?
The Social Security Administration issues Social Security numbers.
