210 likes | 224 Views
Learn about the various Social Security benefits, including retirement, disability, survivor, and Medicare entitlement. Find out who is eligible, the history of the programs, how to earn credits, and the importance of Social Security to young Americans. Access Social Security's online services for applications, address changes, and more.
E N D
Social SecurityAdministration I. Carl Robinson Public Affairs Specialist Trenton, NJ
Social Security Benefits • Retirement Benefits • Disability Benefits • Survivor Benefits • Medicare Entitlement • Supplemental Security Income (SSI)
Who Gets Benefits from Social Security? 54 million people 4.6 million Widows/ Widowers 7.8 million Disabled Workers, 1.9 million Dependents 1.9 million Children of Deceased Workers 33.7 million Retired Workers 2.9 million Dependents 2/2009
History- Social Security’s Programs 1935 Retirement Insurance 1939 Survivors Insurance 1956 Disability Insurance
Other Programs 1965 Medicare 1972 Supplemental Security Income 2003 Medicare Prescription Plan
U.S. Birth Rate 1920-2020 Children Per Woman
Who Pays for Social Security? Workers & Employers Payments to Beneficiaries
Who Can Get Survivors Benefits? • Widow or Widower: • Reduced benefits at age 60 • If disabled as early as age 50 • At any age if caring for child under 16 or disabled • Divorced widows/widowers may qualify • Your Child if: • Not married under age 18 (under 19 if still in high school) • Not married and disabled before age 22
Social Security’s Disability Definition: Amedical condition preventing substantial work for at least 12 months, or expected to result in death. The determination also considers age, education & work experience.
You Need to Work to Earn Social Security Credits • Each $1,120 in earnings • gives you one credit • You can earn a maximum • of 4 credits per year • Example: To earn 4 credits in 2011, you must earn at least $4,480. Earning 40 credits throughout your working life will qualify you for a retirement benefit.
Social Security Disability If you become disabled… Then you generally need: Before age 24 1.5 years of work during the three-year period ending with the quarter your disability began Age 24 but before age 31 Work during half the time for the period after you turn 21 and ending with the quarter you became disabled Age 31 or older Five years of work out of the last 10 year period
Importance of Social Security to Young Americans
Importance of Social Security to Young Americans • Almost 3 in 10 of today’s 20-year-olds will becomedisabled before reaching age 67 • About 1 in 7 of today’s 20-year-olds will die priorto age 67
What You May Need When Applying for Social Security Benefits? • Social Security number for each applicant • Proof of age (birth certificate) • Latest W-2 or self-employment tax return • Earnings estimate • Bank information for direct deposit • Information about marriages/divorces/children • Information about military or railroad service
Minor Children Student’s age 18 or 19 (if still in High School) Disabled adult children (disabled prior to age 22) Types of Child Beneficiaries
Natural Child Adopted Child Stepchild Grandchild Relationship Types
Garnishment orders (IWO’s) must come from: a Court of competent jurisdiction, an Authorized Official pursuant to an order of the Court, or Authorized State Child Support Enforcement Agency. Social Security cannot take action on garnishment orders if they are delivered in a method not in accordance with State Law. Garnishment Orders
SSI (Supplemental Security Income) is a needs based program. Child Support and/or Alimony payments cannot be garnished from SSI benefits. Social Security Disability and /or Retirement benefits can be garnished for Child Support and/or Alimony payments. What Benefits Can Be Garnished
Include the order identifier and/or case number on order. Social Security cannot use a social security number alone. Indicate whether it is an initial order or an amended order. Excluding this information may cause delays in processing garnishment orders. garnishment orderreminders
Social Security’s Online Services • Retirement & Disability Applications • Apply for Extra Help • Retirement/Survivors/Disability Planner • Change of Address • Medicare Card Replacements • Request a Benefit Verification Letter • Start or Change Direct Deposit