No. There are no credible plans to replace Social Security as the foundation for the retirement of American workers.

Social Security is "social" in the sense that, because it is a virtually universal program, Americans share the risks of paying for disability, untimely death, and low earnings in old age. A "privatized" system pushes the risks onto the individual. The current Social Security system is "secure" because it uses a set benefit formula to insure a level of benefits relative to a worker's earnings history.

No. Social Security was never meant to be the sole source of income in retirement. It is often said that a comfortable retirement is based on a "three-legged stool" of Social Security, pensions and savings. American workers should be saving for their retirement on a personal basis and through employer-sponsored or other retirement plans.

Social Security is largely a "pay-as-you-go" system with today's taxpayers paying for the benefits of today's retirees. Money not needed to pay today's benefits is invested in special-issue Treasury bonds.

Yes. Under the 1935 law, what we now think of as Social Security only paid retirement benefits to the primary worker. A 1939 change in the law added survivors benefits and benefits for the retiree's spouse and children. In 1956 disability benefits were added. Keep in mind, however, that the Social Security Act itself was much broader than just the program which today we commonly describe as "Social Security.

No. The amount of Social Security taxes (FICA) paid on your behalf will not be affected if you reduce your taxable income by contributing to your employer's retirement plan. These amounts continue to be treated as "wages" and therefore are subject to FICA taxes. Yes, your spouse's participation in an employer's retirement plan does not affect your ability to participate in your own employer's plan.

Yes. If the Administration tells you that you do not have enough earnings to qualify for benefits, this can be an excellent way to pick up coverage. If you're self-employed, make a fairly modest amount of money, AND REMEMBER TO REPORT IT, you'll receive work credits each year, just like an employee. What's more, you'll also retain any credits from previous jobs.

Social Security Disability Insurance. The amount of your monthly disability benefit is based on your lifetime average earnings covered by Social Security. If you would like an estimate of your disability benefit, you may request a Social Security Statement that displays your earnings record and provides an estimate of your disability benefit. It will also include estimates of retirement and survivors benefits which you and your family may be eligible to receive now and in the future.

No, but in his 2005 State of the Union message, the President laid out basic principles to guide reform: We must ensure that lower income Americans get the help they need to have dignity and peace of mind in their retirement. We must take care that any changes in the system are gradual, so that younger workers have years to prepare and plan for the future. We should make Social Security a better deal for younger workers through voluntary personal retirement accounts.

The first Social Security cards were issued starting in 1936, they did not have this legend. Beginning with the sixth design version of the card, issued starting in 1946, SSA added a legend to the bottom of the card reading "FOR SOCIAL SECURITY PURPOSES -- NOT FOR IDENTIFICATION." This legend was removed as part of the design changes for the 18th version of the card, issued beginning in 1972. The legend has not been on any new cards issued since 1972. No. This is a myth.

A worker's Social Security benefit is not private property; the worker cannot designate who is to receive benefits on his or her Social Security earnings record. Instead, entitlement to Social Security benefits is an earned right based on past covered work. The Social Security Act defines the eligibility requirements, and anyone who meets these requirements must be paid.

Ask for an application (Form SS-5) to apply for a duplicate card. You'll have to submit the completed application and show evidence of your identity.

To assist you in determining whether you qualify for retirement benefits, please visit the SSA's Benefit Eligibility Screening Tool (BEST) web page. top

This option is only available to members who retire before Social Security Normal Retirement Age (SSNRA). It provides an increased benefit before SSNRA and a REDUCED benefit after SSNRA. For more information and an illustration of the Social Security Option, see Retirement Options.

Yes, the two are separate benefits. Most retirees are eligible to receive full Social Security benefits at age 65 and reduced benefits as early as age 62. Please see the chart below to determine when you will be eligible to receive full Social Security benefits:

If the total of your taxable pensions, wages, interest, dividends, and other taxable income, plus any some of your benefits will be taxable.

Generally, no under California bankruptcy law. Retirement accounts that are ERISA-qualified aren't considered property of an estate and cannot be taken. Social Security benefits are generally protected from assignment, or garnishment for debts in bankruptcy. The Social Security Administration's responsibility for protecting benefits against legal process and assignment usually ends when the beneficiary is paid.

If Social Security is not changed, payroll taxes will have to be increased, the benefits of today's younger workers will have to be cut, or massive transfers from general revenues will be required. Social Security's Trustees state, "If no action were taken until the combined trust funds become exhausted in 2040, much larger changes would be required. For example, payroll taxes could be raised to finance scheduled benefits fully in every year starting in 2040.

Doctors' offices often need your Social Security number to process your health insurance claim. For example, Medicare and many commercial insurers use the customer's Social Security number as a primary identifier. Even as insurers move to change this practice, the customer's Social Security number may still be needed when coordinating benefits between a patient's primary and supplemental insurances, each of which may use a separate identifying number.

Social Security numbers and other confidential information will be hidden in the Operational Data Store. However, individuals with the PO Purchaser, PO Requester, all but one Labor Distribution responsibilities, several HR/Payroll responsibilities, and central office users will see social security numbers. All users who have access to this information will be required to sign an Electronic Access Agreement form prior to receiving access.

Social Security benefits are determined by wages reported each year for you. Benefits are calculated on the earnings a person receives during his/her lifetime. The higher the earnings and the number of years worked, the more the monthly benefit will be. Benefits are payable at full retirement age for anyone meeting the minimum criteria for social security credits (with reduced benefits available as early as age 62).

A disability is defined by the Social Security Administration (SSA) as a person's inability to perform any kind of work for which he or she is suited because of an injury or a medical condition. In order to qualify, the disability must be expected to last for at least one year or result in death. The disability can be a result of a physical or mental condition or a combination of a number of such conditions.

Workers' compensation and Social Security Disability are equal programs, but their eligibility requirements and benefits vary a great deal. You are permitted to collect Social Security disability payments and, at the same time, private disability payments from an insurance policy or coverage from your employer. You may also receive workers' compensations benefits at the same time as Social Security disability benefits.

You can give permission to Fox Rx Care to deduct the premium automatically from your bank account, or You can have your premium deducted every month from your Social Security benefits, similar to your premiums for Medicare Part B, or

The Standard Client Letter Prints an Unnecessary "Internal Revenue Service" After the Address for Form 1040-ES Vouchers New 2005 to 2006 Short and Long-Term Capital Loss Amounts Do Not Flow to the Capital Loss Carryover Worksheet

No. Private disability insurance has no effect whatsoever on your eligibility for Social Security disability payments. If you are receiving Workers’ Compensation or other public disability payments, however, this could effect the dollar amount of your Social Security benefit.