50+ Lifestyles

YOUR SOCIAL SECURITY Davenport, Iowa Office

By Linda Clayton-Powell
Social Security District Manager
Davenport, Iowa

TEST YOUR SOCIAL SECURITY KNOWLEDGE

National Trivia Day reminds us that knowledge about Social Security empowers you and prepares you for retirement.  Remember, the more you know about Social Security, the more control you have over your bright future.

1.    What is the average number of years someone has paid into Social Security once they start collecting disability benefits?
A)    2
B)    7
C)    13
D)    22

Because the Social Security Act sets out a strict definition of disability, our beneficiaries are among the most severely disabled people in the country.  We provide modest benefit payments to workers who contributed into the Social Security trust fund before becoming disabled.  The average disability beneficiary today paid into the disability trust fund for 22 years before they began receiving Social Security disability benefits.
2.    At what age can I begin receiving Social Security retirement benefits?
A)    62
B)    65
C)    67
D)    70

The answer to this question is not the same for everyone.  Depending on when you were born, your full retirement age will be between 65 and 67.  You can draw benefits as early as 62, but you will receive a lesser benefit. For more details and a handy chart, visit www.socialsecurity.gov/planners/retire/retirechart.html.

The best time for you to retire will depend on several factors, including when you were born, how long you contributed to Social Security, and how long you expect to live.  The longer you work, and the more money you earn at Social Security-qualifying jobs, the more Social Security retirement benefits you stand to receive.  The longer you wait to draw Social Security benefits, the larger your monthly payout will be.  Past age 70, there is no longer any advantage to waiting.

3.    How much money can I earn and still receive Social Security disability benefits?
A)    $500 per month
B)    $750 per month
C)    $1,090 per month
D)    None

A worker who is disabled can earn up to $1,090 per month and still receive benefits.  If the worker is blind or has work expenses, this amount is higher.  More information about working while disabled is available at www.ssocialsecurity.gov/pubs/EN-05-10095.pdf.
4.    Who receives the largest annual share of Social Security benefits?
A)    Survivors of deceased workers
B)    Disabled workers and their families
C)    Retired workers and their families

The answer is C. About 39.5. Of the nearly 60 million people who receive retirement, dependent, disability, and survivor’s benefits in 2015, the largest share went to retirees and their families, totaling $53 billion each month.  We also paid $6.7 billion dollars in survivor’s benefits each month and $10.5 billion dollars in disability benefits each month in 2015.

THE FORCE IS STRONG WITH SOCIAL SECURITY’S ONLINE SERVICES

“There’s been an awakening.  Have you felt it?”

This winter, Americans of all generations are awakening to the newest film in the Star Wars franchise, Star Wars: The Force Awakens.  Many readers probably remember seeing the first Star Wars film in theaters in 1977.  Audiences watched with fascination at the advanced technology used by the Jedi and Sith in a galaxy far, far away. We still do not have interstellar travel, personal robots, or holographic communication, but we now use technology in our daily lives that would have seemed like science fiction in 1977.  At that time, it would still be years until the modern Internet and smart phones would be part of our lives. Now, many of us cannot imagine life without such technology.

Many people who need to do business with Social Security are finding an awakening of sorts in how easy it is to use our online services.  We continually expand our online services to reflect changing customer needs, and to provide you with world-class service that would even have interplanetary traveler Han Solo saying, “Chewie, we’re home.”  Our online services are convenient and secure, and allow you to conduct much of your business with us from the comfort of your home, office, or space freighter. (Not all services are available in all galaxies).

For instance, you can use our website at www.socialsecurity.gov to apply for retirement, spouses, or disability benefits online.  You can also apply for Medicare and Extra Help with your Medicare prescription drug costs on our website.  We also have online benefit planners to help you estimate your future retirement, disability, and survivors benefits. You can open a free personal online my Social Security account, where you can keep track of your annual earnings and verify them.  Why is that important?   Because your future benefits are based on your annual earnings.  With your account, you can also get an estimate of your future benefits if you are still working; or, if you currently receive benefits, you can use your account to manage your benefits, and get an instant letter with proof of your benefits.  You can also request a Medicare card replacement.

“The force is calling to you.  Just let it in.”  This winter, check out our online services and join the millions of other Americans who have already awakened their own personal my Social Security accounts.  A my Social Security account is a force to be reckoned with.  In addition, you do not need to be a Jedi to have one.
Learn more at www.socialsecurity.gov. Once you go online, this force will be with you … always.