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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 do the numbers in a UK National Insurance Number mean?
Nonsense!! A NI number is issued at around the age of 16 and stays with you for. The previious post implies that a 70 year old with a A will get called up. Women are issued with a A and aren't subject to conscription, so again, nonsense.
The first 2 letters exist purely to allow repetitive use of the same 6 numbers, in the same way that car license numbers change prefix (ie KC52 LWD and KC57LWD, one use of 52LWD, 5 years apart.)
Conscription is purely age and fitness based.
Conscription in the UK?
The letters at the end refer to the days when NI was recorded on a card and sent in to the DHS, so they didn't get them all at once they divided them in to 4 periods through the year, with the letter corresponding to the period your employer sent your card in. They have no meaning now, if AB123456A is allocated AB123456B will never be issued, but they are kept so we all have the same format NI numbers. The information by the previous/2nd contributor is correct.
Does someone on medicaid automatically qualify for medicare?
In a word, no. Medicare eligibility is based on being at least 65 years old and having at least 40 quarters of "covered" employment, or being the spouse of someone with 40 quarters.
What is the Capitalized Value of social security benefits?
The Urban Institute did the calculations in 2004 and the figures are in
http://www.urban.org/900746_USAToday/900746_Tables.xls
Read explanations in http://www.urban.org/publications/900746.html
47000 times 7.65 % the amount of FICA would be 3595.50.
No. The Social Security law allows garnishment of Social Security benefits payable to beneficiaries in only 3 major cases: Child support, spousal support and delinquent or owed Federal taxes and debts. Therefore, the states cannot lay claim to those benefits nor can the Federal government transfer them to anyone else (including creditors. See the Related Links below for more information.
Will Social Security go down if you were on unemployment?
Not if you are already receiving Social Security. If you are still in your earning years, your ultimate benefits my reduce as they take the average of your last 40 quarters of earned income (which does not include unemployment benefits) to determine the benefits you receive.
Does Social Security ever turn anyone down?
Yes. For a variety of reasons - for example, if they are applying for disability SS income and don't qualify.
Can collection agencies freeze bank accounts containing social security and retirement funds?
Collection agencies can not freeze anything. Only courts can freeze bank accounts.
Did other presidents borrow from the social security after Kennedy?
yes
Not just the presidents, but the Congress did so. The fund was meant to grow via interest, not just spending it dollar for dollar. It is very difficult for legislatures to avoid the temptation of dipping into large funds in the wake of recession or other needs. An example is the recent attempt by Arizona's legislature to remove funds from the pension plan. The way it was set up, not politics, prevented it from happening.
How does your wife get half of your social security?
At her full retirement age your wife is entitled to an amount equal to half of what you are entitled to receive at your full retirement age. (If you're not the same age that full retirement age may not be the same age in years for both of you as it rises from 65 to 68 in the years to come) Benefits your wife receives neither increase nor decrease your retirement benefit from social security. What she gets doesn't change what you get. Your benefit is increased by the delayed retirement credit of 8%/year for each year you delay taking benefits after your full retirement age until age 70, but your wife's available retirement benefit does not change. (Neither of you should delay starting Medicare since that usually incurs a penalty.)
Where is social security tax withheld on check stub?
It should be listed as FICA. Listed next to Federal and State withholding, you'll also see FICA - that is your contribution to Social Security.
Are Social Security Administration taxable wages reduced by pretax deduction?
It depends on the deduction.
Most common deductions such as medical premiums reduce SS taxable wages.
But salary-deferal types of deductions do not. For example, employee contributions to a 401lk or Simple IRA do not reduce SS taxable wages.
Can I recover excess social security from multiple jobs?
Yes, you can recover excess social security from multiple jobs by claiming it on your 1040 and getting a tax refund or changing your tax withholding. See www.mymoneyblog.com/archives/2007/11/multiple-jobs-dont-overpay-social-security-tax.html for more information
How much does a child collect from social security when a parent is determined to be disabled?
The minor child's benefit is a percentage of the disabled parent's benefit.
Have not received social security check?
Call or visit your local Social Security office. If you don't live near one of their field offices, call the Social Security Administration directly at 1-800-772-1213 between the hours of 7:00 am and 7:00 pm EST, Monday through Friday.
That number also has an automated menu that may allow you to address your concern without talking to a staff member.
It appears to be a social security number. I would guess it was issued in the state of Pennsylvania around 40 years ago or so. The first three digits designate a number assigned regionally -- western Pennsylvania, Pittsburgh area. The middle number is a sorting or group number. And the final four digits identify a specific individual within the sorting group.
Do you have to pay social security and medicare taxes if you dont want to?
Yes, most working people are required to pay this tax.
Not wanting to would not be a very good reason to not pay into this program (OASDI) Old Age Survivor and Disability Insurance (FICA) (social security and Medicare taxes) all mean the same tax.
What must one do to qualify for a job as a security officer?
To qualify for a job as a security officer, one must first go for a training, at the end you will sit for an exam. If you pass it, you will then be issued with a license. You will also need to have a criminal background check carried out on you.
Can ss benefits be reduced due to income in retirement?
Why are my SS benefits reduced because on my income
Is it a felony to use someone else's social security number for anything with their consent?
If you're using it and claiming that it's your own, at the very least it would be some kind of fraud.
If your income is at or below 200% of the poverty level (amount varies by family size), he or she should qualify for CHIP or SCHIP ((State) Children's Health Insurance Program). President Obama signed this expanded health coverage into law in February 2009.
Each state has a different name for its program, but you can access specific information for your state and receive help with the application process by calling 1-800-KIDS NOW (1-877-543-7669).
For more information, see Related Links, below.
