What are the US social security benefits at retirement?
There is no minimum monthly Social Security retirement benefit, but for administrative reasons, the SSA will not pay a benefit of less than $1. The maximum retirement benefit depends on the age at which you choose to retire. In 2014, if you retire at age 66, the maximum amount you will receive is $2,642. You qualify for Social Security benefits by earning Social Security credits when you work in a job and pay Social Security taxes. The number of work credits you need to get retirement benefits depends on your date of birth. If you were born in 1929 or later, you need 40 credits (10 years of work). How much you get depends on how much you paid in and how old you are when you retire and that you have at least 40 credits. In 2014, you receive one credit for each $1,200 of earnings, up to the maximum of four credits per year. Each year the amount of earnings needed for credits goes up slightly as average earnings levels increase. The credits you earn remain on your Social Security record even if you change jobs or have no earnings for a while. For more information and to find copies of Social Security Administration publications, visit their website at The United States Social Security Administration or call toll-free, 1-800-772-1213 (for the deaf or hard of hearing, call our TTY number, 1-800-325-0778). They treat all calls confidentially. They can answer specific questions from 7 a.m. to 7 p.m., Monday through Friday. Generally, you’ll have a shorter wait time if you call during the week after Tuesday. They can provide information by automated phone service 24 hours a day. They also want to make sure you receive accurate and courteous service. That is why they have a second Social Security representative monitor some telephone calls.
Social Security Benefit question?
I think I just answered this question.........The last check you will receive will be the check you get in July which is payment for June. Since your benefits terminated in July that means that you won't receive a check in August.
How can I find out my social security benefits? I'll b 62 this summer. Can I find how much I can collect?
Easiest way is to sign up at The United States Social Security Administration website. They have a number of tools that will allow you to estimate your benefits.If you are not tech savvy, visit your local Social Security office. For those who believe that government is nothing but money wasting bureaucrats, they have never dealt with anyone from SSA. With only one exception (a very new employee) every single person from SSA with whom I worked was incredibly dedicated, well informed, hard working and supremely interested in helping each beneficiary to the best of their abilities.Please note, however, that ALL benefit estimates are just that: estimates. This sometimes frustrates people, but it is required as sometimes small things can change the benefit slightly, and SSA is trying to avoid a whole bunch of people flooding their offices because “You told me my benefit would be $1087 and it is $1079!” Any estimate should be pretty close to your end benefit if you are approaching 62 (although even with this statement, there are exceptions - such as if you only have 10–15 years of work history). Demanding SSA tell you exactly what your benefit will be will get you nowhere - they simply can’t do it.
Do you know how Social Security Benefits are calculated?
Social Security is a tax; so the money being paid in now is being used to fund the benefits for people currently collecting. Congressional Reports over the last few years project that future benefits may be less than current benefits, because there will be fewer workers paying the SS taxes once the boomer generation retires. Benefits are based on the number of years worked and the earnings during those years, but no one is promised that what they pay in will be fully returned....it's a tax and not a savings account. Your Retirement Benefit: How It Is Figured Social Security benefits are based on your lifetime earnings. Your actual earnings are adjusted or “indexed” to account for changes in average wages since the year the earnings were received. Then Social Security calculates your average indexed monthly earnings during the 35 years in which you earned the most. We apply a formula to these earnings and arrive at your basic benefit
Will my Social Security benefits from adoption be cut off if I get a job?
I’m adopted and I’m 16. I really want a job but my dad says if I get one we’ll lose my benefits. Which we use to buy things like food and to pay the phone bill and stuff. Is that true? Is there anyway around it?
Is there a way to find out if someone is receiving social security disability benefits?
I have no financial interest in this. Is there a way to verify if someone is receiving ssi or ssd ? I have all the relevant identity information for the person but need to know who/what agency to call and confirm this info. There may be fraud being committed...i dont want to know the reasons why they are receiving it or how much, just a confirmation that they are.
How can you receive Social Security Administration benefits in Thailand as a tourist?
This seems like an odd question, but maybe I’m not understanding your intent. If you are in Thailand as a tourist, your stay will be relatively short. If you are already receiving SS benefits before you travel, arrange for future payments to be direct deposited to an account that you have access to in the states and simply use your ATM card to access the money. If you’re thinking of other benefits (I show my ignorance here, because I don’t know what all SS benefits could entail) like health care it could be a lot more difficult to access your benefits.