ביטוח לאומי אזור אישי benefits are especially important for groups with low career earnings and less opportunity to save and earn pensions, including Black and Latino workers. They also face higher poverty rates than older white adults.
The International Labour Organization defines social security as “a system of cash benefits set up by legislation that attributes individual rights to, or imposes obligations upon, public, semipublic, or autonomous agencies.” The system’s ultimate aim is to guarantee income in retirement.
Social Security provides a foundation of retirement protection for nearly all Americans. Almost all workers contribute to Social Security through payroll taxes, and almost all older adults receive benefits. Social Security also protects children and spouses of disabled or deceased workers by providing them with cash benefits.
Unlike most private savings accounts, which are taxable when they are used to generate income after the wage earner retires, Social Security contributions are not taxable. Moreover, unlike most income tax deductions, Social Security benefits are not subject to a federal income tax withholding.
However, when it comes to claiming Social Security benefits, there are many factors to consider that should not be taken lightly. Clients should always seek advice from someone who understands their unique situation, especially when it comes to an issue as nuanced as Social Security benefits.
For example, whether a client should start receiving benefits at full retirement age (FRA), earlier or later, depends on a number of personal and financial considerations. These include life expectancy, health, income needs, spousal and survivor benefits, and her work plans. Considering these factors, it may be appropriate for a client to delay her retirement benefit. If she does, her monthly Social Security benefits will be higher than if she begins collecting at a later date, and will continue to increase annually until FRA.
SSI is designed to provide a modest amount of basic cash assistance for disabled individuals who have little or no income and very limited assets. It was created when state welfare programs were federalized and is a means-tested program.
To qualify for SSI, you must have low income, limited resources and certain criteria related to your age or disability. The federal SSI payment is $914 per month for an individual and many states supplement this amount. Countable resources include financial assets that can be converted to cash (stocks, bonds, property) as well as your home, one vehicle and burial plots, household goods, wedding rings and up to $100,000 in an ABLE account.
The rate of SSI receipt varies by racial/ethnic group. For example, Blacks are more than twice as likely to receive SSI than White people.
SSDI is insurance against disability based on work credits you pay into Social Security through your payroll taxes. To be eligible, you must meet SSA’s definition of disability and have sufficient qualifying work history – either your own or that of your parents or spouse. To determine eligibility for SSDI, SSA reviews your medical condition and how it limits your ability to work on a sustained basis. If approved, SSDI beneficiaries automatically qualify for Medicare two years after their onset date, though they often purchase private “Medigap” insurance to fill in gaps in primary coverage.
The free and secure my Social Security account offers personalized tools for all, whether you apply for benefits or already receive them. You can request a replacement Social Security card (in many areas), check the status of your application or appeal, get estimates about future benefits, and more. You can also change your direct deposit information, instantly print a benefit verification letter, and report a stolen Social Security number or card.
You can find answers to many common questions in our Frequently Asked Questions. If you need further help, we are here to assist you by phone, email or in person at our local offices. We also offer a variety of publications and online resources to help you with your benefit decisions.
We have received reports that fraudulent phishing emails are being sent to individuals with a Social Security number and card. These messages ask the individual to go to a website that looks like our Internet site and enter personal information such as their credit card number, expiration date and PIN. These emails are not from Social Security and should be reported to the Federal Trade Commission.
SSA currently collects customer feedback by asking customers to select their satisfaction with online services after they exit the my Social Security account. SSA is reviewing how to best capture satisfaction data in the future, in accordance with OMB A-11 guidance.
If you have questions about disability, retirement, Medicare, or other SSA benefits, you can call the national phone line staffed with live agents from 8 a.m. to 7 p.m. local time on weekdays, except federal holidays. You can also visit a field office; enter your zip code into the online field office locator to find the closest one. If you are dissatisfied with a decision, you can request a reconsideration within 60 days or ask for a hearing before an administrative law judge. The SSA can take months to schedule a hearing, and it can take several years to get through the entire appeals process. Many people hire a lawyer for help. SSA has regional teleservice centers and 34 local offices.
What if I am denied?