50+ Lifestyles

YOUR SOCIAL SECURITY | Davenport, Iowa Office

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

5 WAYS SOCIAL SECURITY PROTECTS YOU AND YOUR FAMILY

Next payday, when you see a portion of your wages go toward FICA taxes, rest easier knowing that your investment in Social Security brings a lifetime of protections for you and your family.

From your first job and throughout your career, we track your earnings and give you credits for the contributions you have made through payroll taxes. Those credits can translate into important future benefits. As you prepare for a financially secure future, you should know about these five benefits that you, your spouse, and your children might become eligible for through Social Security:

Retirement benefits provide you with a continuous source of income later in life. If you have earned enough
credits, you can start receiving your full retirement benefits at age 66 or 67 — depending on when you were born. You may choose to claim these benefits as early as age 62 at a permanently reduced rate, but waiting until after your full retirement age increases your benefit amount by up to 8 percent per year to age 70. Plan for your retirement at: www.socialsecurity.gov/planners/retire.

Disability benefits offer a financial lifeline if you are struck by a serious medical condition that makes it impossible for you to work and provide for yourself and your family and is expected to last at least one year or to result in death. Learn more at www.socialsecurity.gov/disability.

Child benefits support your minor children while you are receiving Social Security retirement benefits or disability benefits. This financial support also is available to adult children who become disabled before age 22. Grandchildren and stepchildren may qualify in certain situations. Please see: www.socialsecurity.gov/people/kids.

Spousal benefits supplement a couple’s income if one of the two never worked or had low lifetime earnings. In some cases, this benefit is also available to divorced spouses. Please see: www.socialsecurity.gov/planners/retire/applying6.html.

Survivor benefits ease the financial burden on your loved ones after you die by providing monthly payments to eligible widows, widowers, children, and dependent parents. It is likely the survivor benefits you have under Social Security carry greater value than your individual life-insurance policy. Read more about survivor benefits at www.socialsecurity.gov/survivors.

You must meet specific eligibility requirements to receive any type of Social Security benefits.

Currently, Social Security provides benefits to more than 61 million American workers and their families. In addition, we will be there for you and your family through life’s journey.

Learn more about all of our programs at www.socialsecurity.gov.

BETWEEN FESTIVITIES, VISIT MY SOCIAL SECURITY

The holiday season is upon us, bringing with it family gatherings and familiar traditions. As you bustle about from place to place, sharing turkey dinners and catching up with loved ones, there is one errand you can avoid — a visit to the Social Security office. Why take time out of your busy holiday schedule to visit an office when you can conduct most of your business online?

At www.socialsecurity.gov, we have a variety of services available to you, all from the comfort of your home. You can apply for disability benefits or appeal a disability decision. You can also file for retirement benefits, spousal benefits, or Medicare-only benefits while enjoying leftover pumpkin pie. Our secure, easy-to-navigate website is sure to add plenty of comfort and joy to the festivities.

Even if you are currently receiving benefits, or are not quite ready to file, Social Security has services to bring you holiday cheer. With a my Social Security account, those receiving benefits may change their address and direct deposit information, get proof of their benefits, and request replacement documents like a Medicare card. In addition, if you are not currently getting benefits, you can still check your earnings record, get estimates of your future benefits, and view your Social Security Statement. In some areas, you can even request a replacement Social Security card online. Open your account today at www.socialsecurity.gov/myaccount.

With the New Year just around the corner, it is never too early to start planning for your future. Once you have conducted your business at www.socialsecurity.gov, you may want to visit www.myRA.gov. myRA is a retirement savings account from the Department of the Treasury designed to help you put aside money for your retirement. You can invest in the fund according to your budget, putting you in control of your financial prospects. Give yourself a gift this holiday season and invest in your future.

Holidays are fun, and sometimes stressful, times. Let our online offerings reduce the holiday stress so you can focus on what’s important — your loved ones. When you need services from Social Security, start a new tradition. Go online at www.socialsecurity.gov.