Thursday, September 29, 2022

Do I Qualify For Social Security Benefits

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What Is The Future Of Social Security

ð´How Long Do I Have To Work To Qualify For Social Security Benefits

Social Security is expected to run out of cash reserves in 2034, according to the Old-Age and Survivors Insurance Trust Fund, the retirement benefits account managed by the Social Security Administration.

However, this doesnt mean the program would be bankrupt and unable to pay out benefits. If Congress does nothing to reform the system by 2034, Social Security would still be able to pay 79 percent of promised benefits until 2090.

Social Security has run out of cash reserves before. Congress reformed the program in the 1980s by taxing benefits based on income levels and by gradually increasing the full retirement age from 65 to 67.

Social Security Benefits For Surviving Spouses

If your spouse was receiving Social Security benefits upon their death, you must report the death as soon as possible. You can call the Social Security Administration at 1-800-772-1213 between 7 a.m. and 7 p.m. on weekdays or visit your local Social Security office in person.

You are eligible for a one-time, lump-sum death benefit of $255 from Social Security if:

  • You were receiving benefits on your spouses record at the time of death, or
  • If you were living in the same household as your spouse at the time of death.

Any benefits received in the name of your spouse during the month of death or later must be returned to the Social Security Administration as soon as possible.

If your spouse worked long enough under Social Security, you may be eligible for Social Security benefits. You must be age 60 or older or disabled and 50 or older to qualify.

How much youll receive depends on the percentage of your spouses benefit as well as your age and the type of benefit youre eligible for.

You must apply for survivor benefits in person. You can call Social Security at 1-800-772-1213 to request an appointment.

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.

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The Importance Of Full Retirement Age

Retirement is the most common way to qualify for SSI. Unfortunately, the retirement age is not clear to the public because people in varying professions retire at different ages.

If you start collecting at 62, which is the earliest, you may not qualify for all of your benefits. Depending on what year you were born in, you may only get 70-80% of what you are owed. If you wait until the full retirement age, you may get more benefits each month. If you want to be receiving small benefits for a long time, you should apply for retirement when you turn 62. If you are financially able to wait until after the full retirement, you will receive an increase of eight percent for every delayed year.

It is important to note that not everyone has an age requirement for SSI benefits. Widows and widowers, for example, can start receiving the benefits at a younger age.

The SSI retirement system is based on credits. The amount of credits you get, depends on the amount of money you make annually. You cannot get more than four credits in a year. People that were born in 1929 or later must have 40 credits which translates to ten years of work before they begin to qualify for social security benefits.

Strategy For Divorced Spouses

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If you have been divorced for at least two years, you can apply for spousal benefits if your marriage lasted 10 or more years. If, on the other hand, you are still married and considering a divorce, and are near retirement age, try to apply for spousal benefits before your divorce is final. If you have been married and divorced multiple times, you can choose to receive whichever spousal benefit is highest. Saving your ex-spouses Social Security numbers and dates of birth will make the enrollment process easier.

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Earnings And Their Impact On Your Benefit Amount: How Much Will My Social Security Payment Be

Certain types of earnings may reduce your actual retirement benefit amount, while others will not. Those that may reduce the amount you receive include:

  • Wages earned as an employee. These dollars will be calculated for the taxable year that you earn them.
  • Self-employment net earnings. These dollars are calculated for the taxable year that they are received.
  • Work related income, including commissions and bonuses.

Other types of earnings will not impact the amount of the retirement benefit you receive. Generally, these will include:

  • Retirement and pension payments
  • Investment income
  • Income earned after you reach your full retirement age

In some instances, other types of income may affect the bottom line of your retirement benefit amount. Its best to check with your tax professional or call the Social Security Administration at 1-800-772-1213.

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: How To Lock Down Your Social Security Number

How To Receive Federal Benefits

To begin receiving your federal benefits, like Social Security or veterans benefits, you must sign up for electronic payments with direct deposit.

If You Have a Bank or Credit Union Account:

  • Call the Go Direct Helpline at .

If You Don’t have a Bank or Credit Union Account:

Make Changes to an Existing Direct Deposit Account:

Learn how to make changes to an existing direct deposit account. You also may contact the federal agency that pays your benefit for help with your enrollment.

The Facts On Social Security Disability Insurance And Supplemental Security Income For Workers With Disabilities

Who Is Eligible for Social Security Disability Benefits

Social Security Disability Insurance and Supplemental Security Income provide critical lifelines for the roughly 12 million people with disabilities in the United States.

  • Shawn Fremstad
  • Rebecca Vallas

Nearly one out of every six working-age Americans29.5 million peoplehas a disability, making them much more likely to experience economic hardship than people without disabilities. Many people with disabilities are able to work, although they face greater challenges finding work than people without disabilities. But many individuals with severe and long-lasting disabilities have no or only limited capacity to work and are particularly vulnerable to economic hardship.

For roughly 12 million people with disabilities, Social Security Disability Insurance and Supplemental Security Income, both core components of our nations Social Security system, provide critical lifelines. The modest but vital assistance that Disability Insurance and Supplemental Security provide makes it possible for individuals with severe disabilities and health conditions to live independently, keep a roof over their heads and food on the table, and pay for needed, often life-sustaining medications and other basic expenses.

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Assess Your Other Retirement Savings

Whether or not you end up entitled to Social Security benefits, you likely have some supplemental retirement savings in the form of a 401 plan or IRA account. As early as you can before you retire, its a good idea to make a projection of where your retirement nest egg will be by the time you stop working. If it looks like you wont qualify for Social Security and your retirement savings are coming up short, this is the time to maximize your contributions. After you reach age 50, the IRS allows you to contribute extra amounts to both 401 plans and IRA accounts. For 2021 and 2022, you can kick in an additional $6,500 to a 401 plan, SARSEP, 457 plan or 403 plan if youre 50 or older. For IRA accounts, the additional allowable contribution is $1,000 for both tax years.

See: 17 Tips To Live Comfortably Off Just a Social Security Check

Earn Ssa Work Credits In Some Countries

You may not have enough credits from your work in the United States to qualify for retirement benefits. But, you may be able to count your work credits from another country. The SSA has agreements with 24 countries. If you earned credits in one of those countries, they can help you qualify for U.S. benefits.

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Medical Impairments The Qualify

According to the Social Security Administration , a severe medical impairment is considered a condition, or combination of, that drastically inhibits a persons physical or mental capabilities.

The following is a shortlist of medical impairments that can qualify for SSDI:

  • Amputation
  • Stroke
  • Vision or hearing loss

There are more disabilities and medical impairments that can help you qualify for SSDI. The exhaustive list is referred to as The Blue Book.

Use Our Full Retirement Age Calculator For Social Security

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One of the keys of deciding when to retire is determining when you will reach your full retirement age. Full retirement age, also known as normal retirement age, is the age you must reach to start receiving full retirement benefits from Social Security. This age varies depending on when you were born. Because people are generally healthier and living longer, this age has gradually been increasing. For people born before 1938, the full retirement age is 65. People born between 1938 and 1960 are on a scale that ranges up to age 67.

Social Security has developed a Full Retirement Age Calculator that will give you detailed information on when your full retirement age is and what percentage of benefits you can expect as a record holder or as the spouse of a record holder. All thats required is for you to enter the year you were born.

To use the Full Retirement Age calculator, go to

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Getting Ssi And Ssdi At The Same Time

The main difference between SSI and SSDI is that SSI is meant to offer disability benefits to people with low income. It may not matter whether or not they have either worked. They may not have enough credits to qualify for SSDI. SSDI, on the other hand, is for workers who have managed to attain a significant number of credits. It is possible to get both benefits at the same time. They could be referred to as concurrent benefits.

If you are applying for both of them, you are required to file for a concurrent claim. In order to qualify for both claims, you have to be considered disabled by the disability standards of the Social Security Administration. If you do not receive the minimum benefits under SSI, your SSDI benefits will increase. After two years, you automatically receive Medicare.

Can I Continue To Collect Social Security If I Move To Canada

People who are not U.S. citizens normally need not worry. A foreign government may grant citizenship to U.S. citizens who meet the requirements. The social security benefits they receive are available outside of the U.S. They have to meet certain standards only. The agreement provides a place where Canadians can receive benefits regardless of their nationality, even if they are living abroad.

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Qualifying For Supplemental Security Income

SSI is a monthly payment plan for people who have retired. These people have contributed to their working record, and receive payments based on their annual income. SSI is essential for people who need supplements to their income to sustain their way of life. Many people who are retired, get less money than they used to. The SSA uses Social Security to help older people make it through life.

If You’re Receiving Other Retirement Benefits

Do I Qualify For Social Security Disability Benefits If I Have Vertigo?

The calculation gets a bit more complicated if you are eligible to receive benefits from a government pension or foreign employer that is not covered by Social Security. In that case, you may still be eligible, but the amount will be reduced.

For example, if you have a government pension for which Social Security taxes are not withheld, the amount of your spousal benefit is reduced by two-thirds of the amount of your pension. This is known as a government pension offset.

For example, suppose you are eligible to receive $800 in Social Security spousal benefits and you also get $300 from a government pension each month. Your Social Security payment is reduced by two-thirds of $300, or $200, making your total benefit amount from all sources $900 per month + $300).

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What Month Should I Choose As My Month To Start My Benefit

Hi Larry, I turn 66 in the end of September 2021, how far in advance do I need to apply for social security?If my full retirement age is 66 and 2 months what month to choose as my month to start my benefit?When I will receive my first payment? Thanks, Eva.

Hi Eva. If you’ll be claiming Social Security retirement benefits and if you want to start your benefits effective with the month you reach full retirement age you’d choose to start your benefits effective with November 2021. However, that may not be your best option. The best option for when to start drawing benefits depends on each person’s individual set of circumstances. Therefore, you may want to strongly consider using our software to fully analyze the options available to you in order to determine your best strategy for maximizing your benefits.

If you do decide to claim your benefits effective with November 2021 you could file your application up to 4 months prior to that, or as early as July 1 2021. You wouldn’t really need to file in advance, though. You could actually apply as late as May 2022 and still be able to claim benefits retroactive to November 2021.

Best, Jerry

What We Mean By Disability

The definition of disability under Social Security is different than other programs. Social Security pays only for total disability. No benefits are payable for partial disability or for short-term disability.

We consider you disabled under Social Security rules if all of the following are true:

  • You cannot do work that you did before because of your medical condition.
  • You cannot adjust to other work because of your medical condition.
  • Your disability has lasted or is expected to last for at least one year or to result in death.

This is a strict definition of disability. Social Security program rules assume that working families have access to other resources to provide support during periods of short-term disabilities, including workers’ compensation, insurance, savings, and investments.

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Policy Basics: Top Ten Facts About Social Security

Social Security provides a foundation of income on which workers can build to plan for their retirement. It also provides valuable social insurance protection to workers who become disabled and to families whose breadwinner dies.

Eighty-five years after President Franklin Roosevelt signed the Social Security Act on August 14, 1935, Social Security remains one of the nations most successful, effective, and popular programs.

How To Stop Social Security Check Payments

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The SSA can not pay benefits for the month of a recipients death. That means if the person died in July, the check received in August must be returned. Find out how to return a check to the SSA.

If the payment is by direct deposit, notify the financial institution as soon as possible so it can return any payments received after death. For more about the requirement to return benefits for the month of a beneficiarys death, see the top of page 11 of this SSA publication.

Family members may be eligible for Social Security survivors benefits when a person getting benefits dies. Visit the SSA’s Survivors Benefits page to learn more.

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Us Embassy In Argentina

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  • For travel to the United States on a temporary basis, including tourism, temporary employment, study and exchange.

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  • Visa Waiver Program
  • The Visa Waiver Program allows citizens of participating countries* to travel to the United States without a visa for stays of 90 days or less, when they meet all requirements.

  • U.S. Citizens with emergencies, please call + 5777-4354.

    Outside of Office Hours, contact: + 5777-4354

    Outside of Argentina: + 5777-4354

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  • Study in the U.S.A.
  • Learn more about quality higher-education opportunities in the U.S. that you will not find anywhere else in the world.

  • Below, please find a list of some of the services we provide on behalf of the Social Security Administration. For all services, you will need to schedule an appointment. To schedule an appointment or to obtain information, the best way to contact the Federal Benefits Unit is by using our online form.

    The My Social Security internet service is not available to individuals with overseas mailing addresses.

    You may apply for an original or replacement Social Security Card at the Federal Benefits Unit.

    For all services, you will need to schedule an appointment. To schedule an appointment or to obtain information, the best way to contact the Federal Benefits Unit is by using our online form.

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