After tax season, take a few minutes to go online and read your Social Security statement. Even if your retirement is 30 or 40 years away, you need to know where you stand now. The Government Accountability Office tells us that nearly a third of households with members ages 55 and up have no retirement savings plan or pension in place—zip. That means Social Security is the only post-retirement pay they’ll get – and the estimated average monthly benefit for retirees (as of 2017) is just $1,360. (See what I mean by “not enough”?) Continue reading
FICA taxes help provide benefits for retirees, disabled people and children. This contribution helps your parents and grandparents have a secure retirement while securing today and tomorrow for you and your future family. Learn more about FICA. Continue reading
One of the biggest mistakes people make is simply not taking the time or waiting too long to understand how the retirement system works. If you’re worried that you won’t have enough money to last throughout a longer lifetime, take action by doing something about it. According to a 2016 survey, only 40 percent of workers have gotten an estimate of their Social Security benefit amount and only 17 percent have a written financial plan. Continue reading
When a person becomes disabled, it can be a very stressful time in their life. There are many questions and unknowns when you have to transition out of the workforce due to medical issues. While an employer may offer short or long-term disability, most people faced with a disability will file for benefits with Social Security.
If you’re facing life with a disability and don’t know where to start, we encourage you to visit our website at www.socialsecurity.gov/disabilityssi. You can apply for benefits on our website; it’s the most convenient way. Additionally, you can contact us at 1-800-772-1213 (TTY 1-800-325-0778) or visit your local office if you wish to apply for disability benefits. When applying for benefits, you should be prepared to answer a number of questions including: Continue reading
On January 23, I became the acting commissioner of Social Security. That makes me responsible for overseeing one of the nation’s largest and most important social insurance programs, providing retirement, survivors, and disability protection to almost all Americans. With a $12 billion budget and almost 64,000 employees serving in more than 1,500 offices across the country and around the world, plus 16,000 state employees making disability determinations, we issue more than $960 billion in payments to nearly 66 million people each year. I am humbled to lead an agency with a legacy and continuing mission that helps so many people. Continue reading
Social Security has a strict definition of disability based on your inability to work and provide for yourself and your family. Disability benefits are available only to people with impairments so severe that they prevent any kind of significant, profitable work. Social Security pays only for total disability. No benefits are payable for partial disability or for short-term disability. Continue reading
But … how much do you really know about this program? Continue reading
This is the season of caring. No matter your religion or belief, December is also considered a time to focus on the children we love. Whether we’re wrapping Santa’s gifts, buying Hanukkah treats, decorating the house in celebration of Kwanzaa, or volunteering for a toy drive, children add joy to the holiday season. And we at Social Security definitely know a thing or two about helping children. Continue reading
With the year coming to an end and the holidays upon us, I want to wish you and your family a healthy and safe holiday season.
This is a time of reflection for all of us. A time to embrace the season’s spirit of generosity and selflessness. We like to give to our loved ones and let them know how much we care. This year, while you do that, don’t forget to also show some love and generosity to yourself. Continue reading
November was National Family Caregivers Month. In his Presidential Proclamation in celebration of caregivers, President Obama reminds us that our great nation was founded on the ideal that we all do better when we look out for one another. For millions of Americans, this concept is more than an ideal. It’s a day-to-day reality. Continue reading