March 27, 2012 in Estate Planning, Financial Services, Insurance, Money, Social Security
The U.S. Department of the Treasury is encouraging recipients of Social Security and other federal benefits to switch from paper checks to electronic payments ahead of the March 1, 2013, deadline. On that date, all people who receive federal benefits, including Social Security, must get their monthly payments via direct deposit into a bank or ...
May 8, 2010 in Social Security
Every time politicians begin posturing, on both sides of the aisle, they cannot resist mentioning that one solution “on the table” for Social Security reform is to increase the retirement age. It prompts the question: How old should you be when you retire? There are numerous studies on the subject. Some support early retirement with ...
March 25, 2010 in Social Security
For the first time since the Social Security overhaul in the 1980s, the federal government will be required to repay money to the Social Security Trust Fund because the fund will collect less this year than it pays out. This is all purely mathematical stuff. Between growing numbers of baby boomers retiring and collecting monthly ...
September 3, 2009 in Social Security
Q: What is Supplemental Security Income (SSI)? A: Supplemental Security Income (SSI) is a needs-based Federal income supplement program run by Social Security. SSI is funded by general tax revenues, not Social Security taxes. It is designed to help aged, blind and disabled people who have little or no income. SSI provides income to help ...
July 24, 2009 in Social Security
Divorced Spouse Eligibility Divorced spouses are eligible to receive benefits on their ex-spouse’s record. The divorcee must: Have been married to his/her spouse for at least 10 years 62 or older Unmarried Not be eligible for an equal or higher benefit on his/her own The benefit amount that the divorcee receives will not affect you ...
July 24, 2009 in Social Security
Child Eligibility Under the eligibility rules Social Security enforces, children can qualify to receive benefits. Children (biological, adopted, or step) who have parents who are receiving benefits, are under the age of 18, and are unmarried, qualify. A child may also receive benefits if he/she is 18-19 years old and a full time high school ...
July 24, 2009 in Social Security
Spouse Eligibility In order to receive benefits from Social Security, spouses do not need to have worked and paid SS taxes. The reason for this is that they qualify for the benefits on your record. At their full retirement age, a spouse can receive benefits equal to ½ of the full amount of benefits you ...
April 10, 2009 in Social Security
Social Security in the United States refers to the (OASDI) program, Old-Age, Survivors, and Disability Insurance, which is the overall program that supports the following initiatives: Federal Old-Age, Survivors, and Disability Insurance Unemployment benefits Temporary Assistance for Needy Families Health Insurance for Aged and Disabled (Medicare) Grants to States for Medical Assistance Programs (Medicaid) State ...
