Placing A Fraud Alert And Credit Freeze
A fraud alert indicates to the credit bureaus that your information has been stolen and that they should be aware of the likelihood of unusual activity in your name.
A credit freeze goes one step further, locking your credit accounts so that no one can open a new account. Note that if you open a legitimate new account, you’ll need to give the lender a heads up that your credit file is frozen and that you need to unfreeze it before they can run a hard inquiry.
If you put a fraud alert on your credit file, you only need to contact one of the three major credit bureaus. But if youre placing a freeze on your file, you will need to do it with each of the three credit reporting agencies Equifax, Experian and TransUnion.
Check The Social Security Administrations Math
Your statement includes a record of the earnings on which youve paid taxes and an estimate of the benefits you will receive at various retirement ages: 62, 67, and 70. It is always wise for you to check the SSAs numbers. Dont be surprised if you uncover an error. Some government-watchers estimate that the SSA makes mistakes on at least 3% of the total official earnings records it keeps.
When you check your record, make sure that the Social Security number noted on your earnings statement is your own, and make sure the earned income amounts listed on the agencys records mesh with your own records of earnings as listed on your income tax forms or pay stubs.
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What Are The Limitations Of An Ssn Validator
The USA Trace SSN Verification tool and other tools like it do not match a social security number with a name. They only confirm that a particular SSN is valid. Social security number issue dates are not exact and sometimes give a year range rather than exact year of birth. Persons born overseas or who became US citizens later in life will also not have received their number at birth. Regarding the state of issue, a US person born overseas would be issued an SSN from a state corresponding to a parent.
Free SSN verifications cannot be used for official purposes. If youre an employer or landlord, you cannot use the information from a free SSN validation for employment or renting decisions. Likewise, instant social security number validations cant be used for credit/lending decisions. A verification will not help you find someone with a social security number nor do they provide you with any other background check information. There is also no way to perform a social security lookup .
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How Do I Increase My Social Security Benefits After Retirement
To increase your monthly benefit, don’t start taking Social Security payments right when you reach full retirement age. The longer you wait, the more you’ll get each month. If you want to get the highest possible amount of Social Security benefits each month, you need to wait until age 70 to retire.
How Do You Check To See If Someone Stole Your Identity
Maybe youre asking yourself how to check if someone is using my identity? The best way to check for identity theft is by checking your credit report. If anyone has used your SSN to open accounts or obtain credit in your name, then those records will appear on your credit report. If you notice anything on your report that you did not do, then someone likely has your SSN and is using it to conduct fraud. You can also check your Social Security statement to make sure that it is accurate and request a tax transcript from the IRS to make sure that no one has filed false tax returns using your SSN.
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How Does The Social Security Administration Calculate Benefits
Benefits also depend on how much money youâve earned in life. The Social Security Administration takes your highest-earning 35 years of covered wages and averages them, indexing for inflation. They give you a big fat âzeroâ for each year you donât have earnings, so people who worked for fewer than 35 years may see lower benefits.
The Social Security Administration also makes annual Cost of Living Adjustments, even as you collect benefits. That means the retirement income you collect from Social Security has built-in protection against inflation. For many people, Social Security is the only form of retirement income they have that is directly linked to inflation. Itâs a big perk that doesnât get a lot of attention.
Someone May Be Using Your Ssn
People can use your Social Security Number to access bank accounts, open new accounts, and more. If this is happening it may go undetected.
A lot of times there are indications that something is amiss. These are the top five signs your information has been compromised.
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How Does Anyone Earn Them
You can earn up to four credits per year, or one per quarter. Though, as mentioned above, you could earn enough for four credits in one quarter, or it could take all year. Either way, the maximum number of credits you may earn annually is four.
As general wage levels rise each year, the amount of earnings it takes to garner a work credit increases as well. In 2022, you must earn $1,510 in covered earnings to get one Social Security credit. That means to get all four work credits, you must show $6,040 in earnings for the year.
Questions About The Social Security Administration
How Do I Apply For Disability Benefits?
To apply for benefits, contact the Social Security Administration at 1-800-772-1213. They have a TTY phone connection at 1-800-325-0778. You can ask SSA to send you the correct forms, and they can answer questions you may have.
How Do I Apply For Supplemental Security Income ?
To apply for benefits or to ask questions, contact the SSA at 1-800-772-1213. They have a TTY phone connections as well at 1-800-325-0778.
Supplemental Security Income is an income assistance program administered by the Social Security Administration for people who are elderly , blind, or disabled who don’t have many assets and who don’t earn much money
To apply for benefits or to get more information about the SSA retirement program, call 1-800-772-1213. They have a TTY phone connection as well at 1-800-325-0778.
How Do I Apply for Survivors’ Benefits?
A family member or other person responsible for the beneficiary’s affairs should do the following:
How Do I Apply For Medicare Benefits?
If you are already getting Social Security retirement or disability benefits or railroad retirement checks, Social Security will contact you a few months before you become eligible for Medicare and give you the information you need to register.
If you are not already getting checks, you should contact Social Security at 1-800-772-1213 about three months before your 65th Birthday to sign up for Medicare. They also have a TTY phone connection at 1-800-325-0778.
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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.
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.
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How Many Work Credits Must I Have To Qualify For Disability
For most adults, you must first show covered earnings for five of the last 10 years, ending with the year you become disabled. That would give you the 20 quarterly work credits needed to pass the recent work test. Younger disabled workers may qualify with less, but the absolute minimum for a Social Security Disability Insurance claim is six work credits.
In general, here are the recent work test rules:
- Before age 24: You must earn six credits during the three years ending when your disability begins.
- Age 24 to 31: You need credit for working half the time between turning 21 and the year you become disabled. For example: If you apply at 27, you need 12 credits earned in the past six years to qualify.
- Age 31+: In general, you need at least 20 credits earned in the 10 years right before you become too disabled to keep working.
However, the total number of work credits you need for SSDI depends on your age. To pass the duration work test, federal law requires you work at least one-fourth of your adult life. Again, younger workers may qualify with fewer credits.
Where Can I Get An Official Ssn Verification
An SSN Verification for official purposes for hiring, leasing, etc. can be conducted with an FCRA accredited credit reporting agency. If you are trying to find your own social security security number, visit your local Social Security Administration office and they will be able to assist you.
Disclaimer: No warranty. This website and the information contained herein and any data generated by our SSN Verification tool is provided as is, and we make no express or implied representations or warranties regarding this information. Without limiting the foregoing, QuickLocate LLC does not warrant that the website or information will be error-free or will meet any particular criteria of performance or quality. Your use of this website and information is at your own risk.
QuickLocate LLC is not affiliated with the Social Security Administration or any other U.S. Government agency. We are not a credit reporting agency as defined by the Fair Credit Reporting Act and any SSN verification data or report generated is not a consumer report as defined by the FCRA. Information appearing on this site may not be used for any FCRA governed purpose.
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Check The Social Security Administration’s Math
Your statement includes a record of the earnings on which you’ve paid taxes and an estimate of the benefits you will receive at various retirement ages: 62, 67, and 70. It is always wise for you to check the SSA’s numbers. Don’t be surprised if you uncover an error. Some government-watchers estimate that the SSA makes mistakes on at least 3% of the total official earnings records it keeps.
When you check your record, make sure that the Social Security number noted on your earnings statement is your own, and make sure the earned income amounts listed on the agency’s records mesh with your own records of earnings as listed on your income tax forms or pay stubs.
Working May Affect Your Retirement Benefit
You can work and still receive Social Security retirement benefits, but the income that you earn before you reach full retirement age may affect the amount of benefit that you receive. Heres how:
- If youre under full retirement age: $1 in benefits will be deducted for every $2 in earnings you have above the annual limit
- In the year you reach full retirement age: $1 in benefits will be deducted for every $3 you earn over the annual limit until the month you reach full retirement age
Once you reach full retirement age, you can work and earn as much income as you want without reducing your Social Security retirement benefit. And keep in mind that if some of your benefits are withheld prior to your full retirement age, youll generally receive a higher monthly benefit at full retirement age, because after retirement age the SSA recalculates your benefit every year and gives you credit for those withheld earnings
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Maximum Social Security Benefits Example
Say that someone who turned 62 in 2021 will reach FRA at 66 years and 10 months, with earnings that make them eligible at that point for a monthly benefit of $1,000. Opting to receive benefits at age 62 will reduce their monthly benefit by 29.2% to $708 to account for the longer time they could receive benefits, according to the Social Security Administration . That decrease is usually permanent.
If that same person waits to get benefits until age 70, their monthly benefit increases to $1,253. The larger amount is due to the delayed retirement credits earned for the decision to postpone receiving benefits past FRA. In this example, that higher amount at age 70 is about 77% more than the benefit they would receive each month if benefits started at age 62, or a difference of $545 each month.
Of course, the best time for someone to start taking Social Security benefits depends on a variety of factors, not just the dollar amount of the benefit. Things such as current income and employment status, other available retirement funds, and life expectancy must also be factored into the decision.
The Social Security Administration has several calculators to help you estimate your benefits.
There Are Social Security Benefits For Surviving Spouses And Children
If your spouse dies before you, you can take a Social Security survivor benefit, but not in addition to your own benefit. You must choose one or the other. If you are at full retirement age, that benefit is worth 100% of what your spouse was receiving at the time of his or her death .
A widow or widower can start taking a survivor benefit at age 60, but the benefit will be reduced because its taken before full retirement age. If you remarry before age 60, you cannot get a survivor benefit. But if you remarry after age 60, you may be eligible to receive a survivor benefit based on your former spouses earnings record.
Eligible children who are under age 18 or were disabled before age 22 can also receive a Social Security survivor benefit, worth up to 75% of the deceaseds benefit.
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What Is A Social Security Card
Your Social Security card is an important piece of identification. Youll need one to get a job, collect Social Security, or receive other government benefits.
When you apply for a Social Security number , the Social Security Administration will assign you a nine-digit number. This is the same number that is printed on the Social Security card that SSA will issue you. If you change your name, you will need to get a corrected card.
What Is The New Total Contributions Approach
The new Total Contributions Approach means that the total number ofPRSI contributions you paid, instead of when they were paid, are taken intoaccount when the DSP assesses your application for a pension.
The TCA calculation includes the new HomeCaringPeriods Scheme. The changes benefit people who spent time outside the paidworkplace, while raising a family or in a caring role.
If you reached pension age on or after 1 September 2012, your pension ratecan be calculated in 2 ways: using the average rule or using the newTCA see Rules below. The DSP will carry out both calculations andchoose whichever gives you the better rate of pension.
The NationalPensions Framework has proposed that the TCA be introduced to replace thecurrent average rule. However, legislation is required before anychanges may come into effect.
Workers Who Retire In Certain Foreign Countries
U.S. citizens who travel toor live inmost foreign countries after they retire usually can receive Social Security benefits. However, if that country is Azerbaijan, Belarus, Cuba, Kazakhstan, Kyrgyzstan, Moldova, North Korea, Tajikistan, Turkmenistan, or Uzbekistan, then the government will not send them Social Security payments. Exceptions may be available in all of these countries except Cuba and North Korea. The governments Payments Abroad Screening Tool is an easy way to check if you will be able to continue receiving Social Security benefits while living abroad or if restrictions will apply.
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Find Out Your Estimated Social Security Benefits
Periodically checking your estimated Social Security benefits serves several purposes: It helps you plan for retirement and allows you to check for and correct errors.
The Social Security Administration keeps a database of your earnings record and work credits, tracking both through your Social Security number. You can see this information on your Social Security Statement, which is available to everyone age 25 and over. The Social Security Statement also gives you an estimate of the benefits you’ll receive at retirement age, which can play an important role in your financial planning.
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Average The Highest 35 Years
The Social Security benefits calculation uses your highest 35 years of earnings to calculate your average monthly earnings. If you do not have 35 years of earnings, a zero will be used in the calculation, which will lower the average. In the table below, the highest 35 years are listed in Column G.
Total the highest 35 years of indexed earnings, and divide this total by 420, which is the number of months in a 35-year work history, to find the Average Indexed Monthly Earnings.
For our example worker, who was born in 1953 and turned 60 in 2013, the highest 35 years of wages total $1,919,040. Divide by 420 to get an AIME of $4,569.
|How to Calculate Your AIME for Social Security Benefits|