How Do I Get A Replacement Social Security Card?
A Social Security Card is a vital part of any U.S. resident’s and citizen’s life. It is a very important document that has to be kept safe from identity thieves who might use your information to bankrupt you. A replacement Social Security Card can be received only 3 times a year and even that only after great scrutiny. This article will brief you on how can you get a Replacement Social Security Card. The possibilities of a new SS number will also be discussed.
To get a Replacement Social Security Card, all you have to do is following the procedure that follows.
An Application for a Social Security Card, Form SS-5 has to be completed and should be submitted. The SS Administration will be in need of documents that proves your identity. If the agency doesn’t have records proving your U.S. citizenship, then you will have to submit the documents that prove your citizenship. If you aren’t a U.S. citizen, then you will have to submit your original residency and work authorization documents. All the documents should fulfill the needs of the agency as per the rules and regulations.
A new SS number can be obtained if you realize that your number is being abused by identity thieves. If there is no proof of identity theft, then obtaining a new Social Security number will be very difficult. It is applicable for genuine reasons only.
Focus On Strengthening Social Security, Not Cutting It
The National Committee to Preserve Social Security and Medicare recently held an event on “Commissions, Cuts and Crisis Calls”. Over the next few days we will post recordings of some of the exciting and informative speeches that took place at the event.
BARBARA B. KENNELLY: Good morning. Thank you all for coming out here this morning as we invited you to, and I want to take a few minutes to outline why we have asked you to come here this morning before I introduce our valued guests. I want to tell you a little about this organization. I’m Barbara Kennelly; I’m president of National Committee to Preserve Social Security and Medicare. We have 3 million members and supporters across these United States. Our members have various political backgrounds, but they have one passion and that is to preserve Social Security and Medicare, and not just for themselves but for their children and for their grandchildren.
I have to tell you that Social Security and Medicare have always generated controversy. They were under attack before the enacting legislation even passed in the House and the Senate. And you know, the opponents of Social Security they’ve changed their tactics, they’ve changed their retric, but they have never changed their convictions. They think that Social Security and Medicare are unwarranted expansions of government and they should not survive in their current form.
And I have to tell you this morning, the national committee and the people who are on this panel, and I think some of the people in this room, absolutely believe we must preserve Social Security. Before the Great Depression, people worked; they hoped they could save a little money, but when they stopped working the lucky ones they could go live with the younger members of their family. The ones that weren’t so lucky, they often lived in poverty. And what we hear about today, after the Great Depression, all those savings that people who even had savings they didn’t have it anymore, and this cannot happen today because we have Social Security. Read more
Social Security Tips: Taxes on Social Security Benefits
“Social Security was first started by Franklin Delano Roosevelt, one of our greatest presidents in the United States, and it was meant as a benefit, not to be taxed to the American public. However, basically in the ’80s, 1981, taxes occurred at a 50% level when individuals met certain benchmarks, and in 1993 under the Clinton Omnibus Reconciliation Act, American taxpayers who made over $44,000 a year are taxed at 85% of their Social Security benefit; that’s where most individuals currently sit.
There are ways to avoid this if you use appropriate investments such as annuities and things of that nature, and working with a financial advisor that knows how to read a tax return is always of great benefit to you. Many senior Americans do not want to be taxed on their Social Security benefit and like Franklin Delano Roosevelt said, “It’s not intended as a tax resource.” This is Patrick Munro talking about the taxes on Social Security benefits.”
http://www.youtube.com/watch?v=XGdhjKZt8tA
Fewer Americans Expect To Retire, But Most Are Confident
Scottrade recently commissioned a 2009 American Retirement Study for studying retirement plans and generational differences in financial planning. They sampled 1000 Americans aged 18 years or above for this study.
Following their study, Scottrade concluded that only 32% of respondents, 7% less than that in 2008, expected to fully retire at their retirement age. They also observed that retirement accounts of 43% of respondents had decreased by 10% or more since 2008 and that 67% Americans did not plan to contribute to IRA. Also, though 77% of the respondents were concerned about Social Security, more than half were pretty sure of it running out before they retired.
Furthermore, 61% of respondents were confident of their retirement planning ability with Gen Xers (64%) and Boomers (67%) believing in curtailing expenses. Gen Xers did it by using coupons (66%), cutting back on entertainment (65%), paying down debts (57%), and reducing credit card spending (55%) while Boomers (67%) did the same by comparison shopping (70%).
Confident of saving enough, only 5% Gen Yers used advisers for retirement planning as against 28% who planned independently. They were also considerably focused on working more to earn more (30%) and searching for a better-paying job (29%).
Why Doesn’t Obama Talk About Social Security?
The recent address to Congress by President Obama, in order to explain the need and function of the US Stimulus left supporters on both sides reassured, and opposition uneasy (and at times openly confrontational). But according to Neil H. Buchanan, it did more to show Obama’s strengths and weaknesses then it did to outline an already partisan Congress.
It was Obama’s relatively small focus on Social Security that has left Mr. Buchanan so worried, as it showed a number of specific details on the new President that are both good and bad. For instance, he feels that our Commander In Chief is a little too willing to water down his policies in order to keep a peace that is frankly non-existent in the current partisan political climate.
Neil Buchanan also feels that focus should not be centered on Social Security in the first place, and that reassurances that might compromise the effectiveness of the costly Stimulus may waste time and funds. After all, he is quick to point out, Social Security only makes up less then 15% of the overall economic health, and it may or may not be negatively effected as we work to reinstate America’s fiscal health.
In his opinion, cuts that may be needed in SS in the future could be ‘phased in’ over time, and held off until deemed necessary, making it a pointless part of the rescue plan, and one that could cost Americans.
Neil H. Buchanan joined GW Law in 2007, and has been a valuable member of the faculty ever since. He has a long career as an economics professor behind him, making him more then qualified to comment on the current crisis and the plan to pull the country out of it. He is a Harvard graduate, and currently lived in Washington D.C.
Social Security Administration Targets Young Workers
A new program has been launched by the Social Security Administration, aimed at teaching the young work force about the importance of saving, investing, and preparing for retirement. It focuses mainly on small steps that can be taken to increase the amount of retirement funds available to them in the future, apart from benefits from Social Security.
The pamphlets that are being handed out to people between the ages of 25 and 35 works to dispel some of the rumors about Social Security, and better inform workers about that benefits of saving. Some of the information speaks about the chances of SS being around for their retirement, as it has been projected that funds will run out by 2041.
It also explains the importance of adding small investments over time, as even $25 a week, with compounded interest of 5%, will come out to almost $165,000 within forty years, which would put many of the young workforce at retirement age. This would be in addition to benefits that the SSA assures us will still actually be there.
According to the Social Security Board of Trustees, in 2041, taxes will still allow for “$780 for every $1,000 in benefits scheduled”, which will be enough to supplement an already well established retirement fund. But this is fully the responsibility of the worker, and so the issue is an important one.
Young workers can start expecting to see the inserts within the coming months, which are similar to those given to workers over the age of 55, explaining all possible benefits, the way compound interest increases investments, and how to make the most out of your retirement funds. It also discusses the way that Social Security payouts work, and the chances of applying for, and receiving, disability in the case of early retirement.
Social Security Disability Insurance Recipients To Get Extra $250 By Summer
Belleville, Ill – Social Security Disability Insurance recipients can look forward to receiving a one-time $250 bonus payment by early summer, according to Allsup, which represents tens of thousands of people in the Social Security Disability Insurance (SSDI) process each year. The American Recovery and Reinvestment Act of 2009, recently signed by President Obama, launches a $787 billion national economic stimulus package that includes the one-time $250 payments to those eligible for SSDI, Social Security retirement, Supplemental Security Income (SSI), railroad retirement benefits and U.S. veterans disability compensation or pension benefits.
“This additional income, though minimal, can help offset the rising costs for people with disabilities,” said Paul Gada, personal financial planning director at Allsup. “Recipients may want to consider using it toward healthcare costs, especially if they are still in the 24-month waiting period to become eligible for Medicare benefits.”
This additional income, though minimal, can help offset the rising costs for people with disabilities. Recipients may want to consider using it toward healthcare costs, especially if they are still in the 24-month waiting period to become eligible for Medicare benefits.
That means you’ll have an additional $500 in income available, which could be an important cushion. For example, this amount could be put toward an emergency fund.
The good news is even better for couples who receive Social Security benefits—because each recipient will receive a one-time $250 payment. “That means you’ll have an additional $500 in income available, which could be an important cushion,” said Mr. Gada. “For example, this amount could be put toward an emergency fund.”
SSDI is a federally mandated insurance program overseen by the Social Security Administration (SSA) that operates separately from the retirement and SSI programs. SSDI provides monthly benefits to individuals who are under full retirement age (age 65 or older) and who can no longer work because of a disability (injury, illness or condition) that is expected to last for at least 12 months or is terminal. Individuals must have paid FICA taxes to be eligible. More details are provided in the “SSDI Overview” on Allsup.com.
More Details On The $250 Bonus Payments
To help clarify details about the $250 bonuses to SSDI recipients, Allsup has outlined answers to common questions about the one-time payment.
Who is eligible for the $250?
Anyone who was receiving SSDI benefits anytime during the three-month time period of Nov. 1, 2008, through Jan. 31, 2009 will receive a bonus check. In addition, beneficiaries in the Social Security retirement, SSI, railroad retirement and veterans benefits programs are eligible.
What if I got my SSDI in February 2009?
Unfortunately, you will not receive the one-time $250 payment because your entitlement date was after Jan. 31, 2009.
When does the payment go out?
The Social Security Administration expects everyone who is entitled to receive their payment by late May 2009.
If I’m eligible, how do I get the payment?
You do not need to do anything. There is no paperwork required. You will receive the additional payment automatically using the same method that you receive your regular benefits (i.e. direct deposit, mailed check).
Will I get more than one $250 payment?
Recipients are only entitled to one $250 bonus. It does not matter if you are on both SSDI, SSI or other benefit programs.
My children get dependent benefits, so will they also get a $250 bonus?
No, children under age 18 (19 if still in high school) who receive Social Security benefits will not receive a bonus. However, disabled adult children will receive a payment.
If my spouse and I are both on Social Security, do we only get one $250 payment?
No, each adult receiving Social Security benefits will receive a $250 payment. This means both you and your spouse will receive payments.
Will this payment affect my taxes?
No, the one-time $250 payment will not be counted toward gross income for your federal income tax.
What if I don’t get the payment?
If you don’t receive a payment by June 4, 2009, the SSA recommends contacting your local Social Security office or calling (800) 772-1213 to report that your payment did not arrive.
ABOUT ALLSUP
Allsup, Belleville, Ill., is a leading nationwide provider of financial and healthcare related services to people with disabilities. Celebrating its 25th anniversary in 2009, Allsup has helped more than 110,000 people receive their entitled Social Security Disability Insurance and Medicare benefits. Allsup employs more than 550 professionals who deliver services directly to consumers and their families, or through their employers and long-term disability insurance carriers. For more information, visit www.Allsup.com.
Obama Backtracks on Social Security Reform
It’s no secret that many Republicans are hopeful of bipartisan reforms that would reduce benefits and raise the eligibility age. Therefore, even though they appreciated President Obama’s address on Tuesday night about deficit reduction and personal responsibility, they were livid with him for making just a passing reference on Social Security reforms.
Republican Senate Minority Leader Mitch McConnell while interacting with the media lashed out at Obama and his chief of staff Rahm Emanuel for back-tracking on their earlier commitment towards Social Security reforms. This purported back-tracking of Obama pointed towards a successful lobbying by Liberals who were apprehensive of Obama weakening Social Security.
Sen. Graham (R-S.C.) too did not fail to notice the pressure from the Left. He likewise advised the administration to take bold steps when it came to realistic age adjustments and benefit recalculation for high income Americans. Graham, who incidentally was also in Obama’s Social Security breakout session on Monday wished for the same kind of support for Social Security that Obama accorded to health care because it was one reform which he felt to be really achievable.
Sen. Sessions (R-Ala.), who lamented Obama for espousing health care and maintaining a studied silence on Social Security, joked that such a situation had probably arisen due to the fact that in the past, when President Bush had tried to do a similar thing, he too was stonewalled by the Democrats.
Though he found the speech to be brilliant, Sen. Ensign (R-Nev.) too wished for more talk being made about entitlement reforms.
A Social Security Tale That’s Sad, Funny And Scary At The Same Time
WOMAN IN GLASSES: I want to tell a tale, a true tale, a true story; something that happened, it’s kind of sad but kind of funny and kind of scary all at the same time.
My friend used to live here with hubby and I and he’s retired and he gets Social Security benefits. He had a letter in the mail that said, “Dear Mr. So and So, we regret to inform that we can no longer continue to send you your Social Security benefits because we do not have a correct address for you.”
And at that point I kind of wondered how the letter got to him since the letter had his address on it and got to him. Yeah, the Social Security Administration wrote him a letter addressed to him at his address which said they didn’t have an address for him.
Watch the video here.
$250 Stimulus Check For Social Security Recipients: Important News
The Social Security Administration released the following update:
“Social Security’s Economic Recovery One-Time Payments Information Page
President Obama recently signed the American Recovery and Reinvestment Act of 2009. This act provides for the one-time payment of $250 to individuals who get Supplemental Security Income (SSI) or Social Security benefits.
We expect everyone who is entitled to a payment to receive it by late May 2009. No action is required on your part.
We are currently working on the details regarding how we will issue nearly 55 million one-time payments to our beneficiaries.
When more information becomes available, we will promptly post it here. Please bookmark this site and check back regularly. Thank you.”
SS.com will follow the story as well so check back frequently. Our readers will also report as soon as they receive the first check.
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