What Is The Social Security Administration
The Social Security Administration is a government agency that provides financial protection for certain groups, such as children, seniors, veterans, disabled people, widows, and widowers. When you apply for Medicare, the Social Security Administration is usually where you go for an application.
The Social Security Administration reports in 2021 that around 65 million people per month receive Social Security benefits, and as of June 2020, around 180 million people pay Social Security taxes while working.
SocialSecurity.gov is the official website of the U.S. Social Security Administration. Most of the management of your retirement, disability, and government health benefits can be done right on the SocialSecurity.gov website. SocialSecurity.gov contains a wealth of information, so it can give beneficiaries a better idea of what they qualify for, how to apply for benefits, and what benefits they will receive.
Fraud In The Acquisition And Use Of Benefits
Given the vast size of the program, fraud sometimes occurs. The Social Security Administration has its own investigatory unit to combat and prevent fraud, the Cooperative Disability Investigations Unit . The Cooperative Disability Investigations Program continues to be one of the most successful initiatives, contributing to the integrity of SSA’s disability programs. In addition when investigating fraud in other SSA programs, the Social Security Administration may request investigatory assistance from other federal law enforcement agencies including the Office of the Inspector General and the FBI.
Get Ssa Benefits While Living Overseas
U.S. citizens can travel to or live in most, but not all, foreign countries and still receive their Social Security benefits. You can find out if you can receive benefits overseas by using the Social Security Administrations payment verification tool. Once you access the tool, pick the country you’re visiting or living in from the drop-down menu options.
Don’t Miss: $7 000 Stimulus Check
Report The Death Of A Social Security Or Medicare Beneficiary
You must report the death of a family member receiving Social Security or Medicare benefits. The Social Security Administration processes death reports for both. Find out how you can report a death and how to cancel benefit payments. In addition to canceling SSA and Medicare benefits, find out what other benefits and accounts you should cancel.
Fact #: Social Security Is Particularly Important For People Of Color
Social Security is a particularly important source of income for groups with low earnings and less opportunity to save and earn pensions, including Black and Latino workers and their families, who face higher poverty rates both during their working lives and in old age. The poverty rate among Black and Latino seniors is over 2.5 times as high as for white seniors. There is a significant racial retirement wealth gap, leading seniors of color to face more retirement insecurity than white seniors. African American and Latino workers are less likely to be offered workplace retirement plans and likelier to work in low-wage jobs with little margin for savings. Social Security helps reduce the economic disparities between white seniors and seniors of color.
You May Like: Entry Level Government Jobs San Antonio Tx
What Can I Do On Social Securitygov
On the Social Security website, beneficiaries can:
- Manage Social Security statements, bills, and appeals
- Request Extra Help for paying for your medications under Medicare Part D
- Change the name on your Social Security card .
- Get an estimate of your future SSA benefits.
- Find forms related to benefits.
- Learn how to apply for survivors benefits when a spouse dies.
Demographic And Revenue Projections
|This section’s factual accuracy may be compromised due to out-of-date information. The reason given is: Several of these projected dates have passed, and some language referring to data as ‘current’, ‘latest’, ‘most recent’, etc. is as old as 2005, or undated. Please help update this article to reflect recent events or newly available information.|
In 2005, this exhaustion of the OASDI Trust Fund was projected to occur in 2041 by the Social Security Administration or by 2052 by the Congressional Budget Office, CBO. Thereafter, however, the projection for the exhaustion date of this event was moved up slightly after the recession worsened the U.S. economy’s financial picture. The 2011 OASDI Trustees Report stated:
Annual cost exceeded non-interest income in 2010 and is projected to continue to be larger throughout the remainder of the 75-year valuation period. Nevertheless, from 2010 through 2022, total trust fund income, including interest income, is more than is necessary to cover costs, so trust fund assets will continue to grow during that time. Beginning in 2023, trust fund assets will diminish until they become exhausted in 2036. Non-interest income is projected to be sufficient to support expenditures at a level of 77 percent of scheduled benefits after trust fund exhaustion in 2036, and then to decline to 74 percent of scheduled benefits in 2085.
Ways to eliminate the projected shortfall
Recommended Reading: Las Vegas Federal Jobs
Social Security Applications And Claims Index And Numident Files
- Applications and Claims Index:
- Social Security Applications and Claims Index, 1936-2007 This database has information filed with the Social Security Administration from the application and claims process for more than 49 million people. Not everyone listed in the SSDI is included. You might find people in this database who are not in the SSDI. A few of the entries include the names of the person’s parents. Many have just minimal information.
Getting A Social Security Number For A New Baby
The easiest way to get a Social Security number for your child is at the hospital after they are born when you apply for your childs birth certificate. If you wait to apply for a number at a Social Security office, there may be delays while SSA verifies your childs birth certificate.
Your child will need their own Social Security number so you can:
- Claim your child as a dependent on your income tax return
- Open a bank account in their name
- Get medical coverage for them
- Apply for government services for them
Keep your Social Security card in a safe place to protect yourself from identity theft.
Also Check: Jobs Hiring In Los Lunas
Fact #: Social Security Benefits Are Modest
Social Security benefits are much more modest than many people realize the average Social Security retirement benefit in June 2020 was about $1,514 a month, or about $18,170 a year. For someone who worked all of their adult life at average earnings and retires at age 65 in 2020, Social Security benefits replace about 40 percent of past earnings. This replacement rate will slip to about 35 percent for a medium earner retiring at 65 in the future, chiefly because the full retirement age, which has already risen to 66, and is gradually climbing to 67 over the 2017-2022 period.
The average Social Security retirement benefit in June 2020 was $1,514 a month, or about $18,170 a year.
Moreover, most retirees enroll in Medicares Supplementary Medical Insurance and have Part B premiums deducted from their Social Security checks. As health care costs continue to outpace general inflation, those premiums will take a bigger bite out of their checks.
Social Security benefits are modest by international standards, too. The United States ranks just outside the bottom third of developed countries in the percentage of an average workers earnings replaced by the public pension system.
Social Security lifted 1.5 million children out of poverty in 2018, as the chart shows.
Reducing Cost Of Living Adjustment
At present, a retiree’s benefit is annually adjusted for inflation to reflect changes in the consumer price index. Some economists argue that the consumer price index overestimates price increases in the economy and therefore is not a suitable metric for adjusting benefits, while others argue that the CPI underestimates the effect of inflation on what retired people actually need to buy to live.
In 2003 economics researchers Hobijn and Lagakos estimated that the social security trust fund would run out of money in 40 years using CPI-W and in 35 years using CPI-E.
Recommended Reading: Goverment Jobs In Las Vegas
Old Age Survivors And Disability
SSA administers the retirement, survivors, and disabled social insurance programs, which can provide monthly benefits to aged or disabled workers, their spouses and children, and to the survivors of insured workers. In 2010, more than 54 million Americans received approximately $712 billion in Social Security benefits. The programs are primarily financed by taxes which employers, employees, and the self-insured pay annually. These revenues are placed into a special trust fund. These programs are collectively known as Retirement, Survivors, Disability Insurance .
SSA administers its disability program partly through its Office of Disability Adjudication and Review , which has regional offices and hearing offices across the United States. ODAR publishes a manual, called HALLEX, which contains instructions for its employees regarding how to implement its guiding principles and procedures.
The RSDI program is the primary benefits program administered by the U.S. federal government, and for some beneficiaries is the vital source of income. Increasing access to this benefit program for low-income or homeless individuals is one of SSA’s goals. SSA is a member of the United States Interagency Council on Homelessness and works with other municipal, county, state, local and federal partners to increase access and approval for SSI/SSDI benefits who are eligible.
Overview Of The Federal Judiciary
Article III section I of the Constitution establishes the Supreme Court of the United States and authorizes the United States Congress to establish inferior courts as their need shall arise. Section I also establishes a lifetime tenure for all federal judges and states that their compensation may not be diminished during their time in office. Article II section II establishes that all federal judges are to be appointed by the president and confirmed by the United States Senate.
The Judiciary Act of 1789 subdivided the nation jurisdictionally into judicial districts and created federal courts for each district. The three tiered structure of this act established the basic structure of the national judiciary: the Supreme Court, 13 courts of appeals, 94 district courts, and two courts of special jurisdiction. Congress retains the power to re-organize or even abolish federal courts lower than the Supreme Court.
The district courts are the trial courts wherein cases that are considered under the Judicial Code consistent with the jurisdictional precepts of “federal question jurisdiction” and “diversity jurisdiction” and “pendent jurisdiction” can be filed and decided. The district courts can also hear cases under “removal jurisdiction“, wherein a case brought in State court meets the requirements for diversity jurisdiction, and one party litigant chooses to “remove” the case from state court to federal court.
Also Check: Free Government Cell Phones Missouri
Federal Government Of The United States
|1789 233 years ago|
The federal government of the United States is the national government of the United States, a federal republic in North America, composed of 50 states, a federal district , five major self-governing territories and several island possessions. The federal government is composed of three distinct branches: legislative, executive, and judicial, whose powers are vested by the U.S. Constitution in the Congress, the president and the federal courts, respectively. The powers and duties of these branches are further defined by acts of Congress, including the creation of executive departments and courts inferior to the Supreme Court.
Fact #: Social Security Is More Than Just A Retirement Program It Provides Important Life Insurance And Disability Insurance Protection As Well
Over 64 million people, or more than 1 in every 6 U.S. residents, collected Social Security benefits in June 2020. While older Americans make up about 4 in 5 beneficiaries, another one-fifth of beneficiaries received Social Security Disability Insurance or were young survivors of deceased workers.
In addition to Social Securitys retirement benefits, workers earn life insurance and SSDI protection by making Social Security payroll tax contributions:
- About 96 percent of people aged 20-49 who worked in jobs covered by Social Security in 2019 have earned life insurance protection through Social Security.
- For a young worker with average earnings, a spouse, and two children, thats equivalent to a life insurance policy with a face value of over $725,000 in 2018, according to Social Securitys actuaries.
- About 89 percent of people aged 21-64 who worked in covered employment in 2019 are insured through Social Security in case of severe disability.
The risk of disability or premature death is greater than many realize. Some 6 percent of recent entrants to the labor force will die before reaching the full retirement age, and many more will become disabled.
Don’t Miss: Local Government Employee Credit Union
If You’re Not Sure Why You Received A Payment
If you receive a check or direct deposit payment from the Treasury Department and do not know what its for, contact the regional financial center that issued it.
If you received a check, look for the RFCs city and state at the top center. Then contact that RFC to find out which federal agency authorized the payment. It will be one of these:
If you received payment byelectronic funds transfer , or direct deposit, follow the directions under Find Information About a Payment.
Use the Treasury Check Verification System to verify that the check is legitimate and issued by the government.
How To Get A Social Security Card
Read Also: Free Grants For Dental Implants
Fact #: Social Security Provides A Foundation Of Retirement Protection For Nearly Every American And Its Benefits Are Not Means
97% of the elderly either receive Social Security or will receive it.
Almost all workers participate in Social Security by making payroll tax contributions, and almost all elderly Americans receive Social Security benefits. In fact, 97 percent of the elderly either receive Social Security or will receive it, according to Social Security Administration estimates. The near-universality of Social Security brings many important advantages.
Social Security provides a foundation of retirement protection for people at all earnings levels. It encourages private pensions and personal saving because it isnt means-tested in other words, it doesnt reduce or deny benefits to people whose income or assets exceed a certain level. Social Security provides a higher annual payout than private retirement annuities per dollar contributed because its risk pool is not limited to those who expect to live a long time, no funds leak out in lump-sum payments or bequests, and its administrative costs are much lower.
Indeed, universal participation and the absence of means-testing make Social Security very efficient to administer. Administrative costs amount to only 0.6 percent of annual benefits, far below the percentages for private retirement annuities. Means-testing Social Security would impose significant reporting and processing burdens on both recipients and administrators, undercutting many of those advantages while yielding little savings.
Where Can I Learn More About Disability Benefits
Social Security provides disability benefits for people of all ages, with rules enumerated in a 15-page document. You can apply for disability benefits online. Before completing the application, you should read this five-page publication that includes instructions and frequently asked questions.
Questions To Ask Yourself Before Retiring
As you plan, consider these important questions:
At what age do you plan to retire?
If you have a spouse or partner, will they retire when you do?
Where do you plan to live when you retire? Will you downsize, rent, or own your home?
Do you expect to work part-time?
Will you have the same medical insurance you had while working? Will your insurance coverage change?
Do you want to travel or pursue a costly, new hobby?
Paperwork Reduction Act Notice
This collection of information is authorized by OMB Control No. 1510-0007. The estimated average time associated with filling out a paper direct deposit enrollment form is 10 minutes per respondent or record keeper, depending on individual circumstances. The estimated average time for completing a direct deposit enrollment online is approximately five minutes.
Read Also: Harford County Careers
What If I Want To Go To The Social Security Office
However, you may need to visit an SSA office to resolve an issue you cant figure out on the SocialSecurity.gov website. Check the Office Locator to find the SSA office nearest you. Before you go, speed things up by printing and filling out the necessary forms from the Get a Form section on SocialSecurity.gov. And remember that once you file an application, you can check your application status online whenever you want.
You can also call Social Security at 1-800-772-1213, Monday through Friday, from 7AM to 7PM. TTY users can call 1-800-325-0778.
eHealthMedicare.com is not affiliated with Social Security.gov or SSA.gov. SocialSecurity.gov and SSA.gov have the .gov domain because they are official federal government websites.
Medicare information is everywhere. What is hard is knowing which information to trust. Because eHealths Medicare related content is compliant with CMS regulations, you can rest assured youre getting accurate information so you can make the right decisions for your coverage. Read more to learn about our Compliance Program.
Find Plans in your area instantly!