Social Security is complex…those of you who are beneficiaries certainly know that, and those of you who are beginning to look into it are quickly becoming aware of the myriad rules, regulations, and critical decision points you’ll face when you get there. Our Foundation provides free Social Security Advisory Services to the public on a question-and-answer basis, and we handle an average of 500 requests for this service every month. It’s been a wildly popular service.
To expand on what we’re already doing, our team has now developed a new service targeted at small to medium companies that do not have on-staff resources familiar with the intricacies of Social Security. Our designed approach is to offer the service on-site at a company’s location, featuring a “packaged” approach with the following components:
- A complete and focused seminar on Social Security, from basics to details (about a four-to-six-hour session)
- Focused discussions on items pre-selected for the audience (e.g., spousal benefits, survivor issues, calculation of benefits, filing strategies, rules for government retirees, etc.)
- Individual appointment-based sessions to discuss questions, personal situations, etc. like breakeven strategies or specific questions that people are not inclined to dicuss in open forum
- Foundation publications (“Ask Rusty” collections, “Who’s Who in Social Security,” article reprints)
Although our phone/email service is free to the public, we offer this on-site service at a modest fee, primarily to recover our costs.
Consider this endorsement from SECO Energy, one of America’s largest electric cooperatives:
SECO Energy believes wholeheartedly in educating our employees with important information about their needs before and after retirement as they age into Social Security eligibility. Our cooperative takes advantage of the Association of Mature American Citizens (AMAC) Foundation’s Social Security Advisory Services with on-site, interactive employee education sessions. I consider AMAC’s educational services a vital employee benefit that corresponds with other retirement education initiatives SECO Energy offers related to our 401k program and our retirement security pension plan. Employees need to understand the full retirement picture – including Social Security. AMAC’s consultants are accredited National Social Security Advisors who bridge that gap expertly. I recommend AMAC’s services to other
companies seeking to provide this type of employee education to its aging workforce.
Jim Duncan, CEO
SECO Energy
my husband is applying for SS at full retirement age. I have been drawing mine (wife) and our minor child receives a check. Since my husband is going to be drawing his, will my and our minor child checks increase
Sara
Your benefits may increase, but you will be subject to a Family Maximum which for two dependents (if you are eligible for a spousal benefit) is usually around 175%, 100% of your husband’s benefit, and 75% of that amount shared by the two dependents. If you are not eligible for a spousal benefit, your child will receive a benefit equal to 50% of your husband’s full retirement age (FRA) benefit, if his FRA benefit is higher than the amount of your FRA benefit, not the amount of the reduced benefit you are receiving if you took your own retirement benefit before your FRA.
If your husband’s benefit is higher than your own, your husband should sign your child up under his record so your child will receive a higher benefit. If you took your own retirement benefit early (unless you are on disability benefits) that reduction will affect your spousal benefit if you are eligible for one. A spouse receives a spousal benefit when 100% of their FRA benefit is less than 50% of their spouse’s FRA benefit. If you have reached your FRA the difference between 50% of your husband’s FRA benefit and 100% of your husband’s benefit would be added to your current benefit amount. If you have not reached your FRA, it will be reduced according to your age at the time he starts his benefits. Due to the family maximum, you may not receive your full spousal benefit until your minor child is no longer receiving benefits based on your husband’s record. If your child is also disabled, as they were disabled before the age of 22, they will remain on your husband’s record permanently.
So whether or not your and your minor child’s benefits will increase is a question you will have to get answered by Social Security. As we are not affiliated with the Social Security Administration we can not access your records
If we can help you further, please give our Advisory Service a call at 888-750-2622 or via email at [email protected]
Sharon L Kleczka RSSA®
AMAC Foundation
CONFIDENTIALITY NOTICE: The contents of this message, including any attachments, are confidential and are intended solely for the use of the person or entity to whom the message was addressed. If you are not the intended recipient of this message, please be advised that any dissemination, distribution, forwarding, printing, copying, or use of the contents of this message, and any attached documentation, is strictly prohibited. If you received this message in error, please notify the sender. Please also permanently delete all copies of the original message and any attached documentation. The opinions and interpretations expressed in this message are the viewpoints of the message’s author, a trained advisor accredited under the National Social Security Advisors program of the National Social Security Association, LLC (NSSA). The author, the NSSA, and the AMAC Foundation are not affiliated with or endorsed by the United States Government, the Social Security Administration, or any other state government..
if i have paid the maximum social security and change employers – do i have to have social security deducted by my new employer
Dale:
Unfortunately, yes. FICA tax is a payroll tax and is assessed by employers on all payroll-based income. In your case, you will be able to recover the excess amount you paid by using IRS form 843 (Claim for Refund and Request for Abatement) when you file your federal tax return, and ask that the excess be applied as a credit against your total income tax bill.
Gerry Hafer
AMAC Foundation, Inc.
888-750-2622
CONFIDENTIALITY NOTICE: The contents of this message, including any attachments, are confidential and are intended solely for the use of the person or entity to whom the message was addressed. If you are not the intended recipient of this message, please be advised that any dissemination, distribution, forwarding, printing, copying, or use of the contents of this message, and any attached documentation, is strictly prohibited. If you received this message in error, please notify the sender. Please also permanently delete all copies of the original message and any attached documentation. The opinions and interpretations expressed in this message are the viewpoints of the message’s author, a trained advisor accredited under the National Social Security Advisors program of the National Social Security Association, LLC (NSSA). The author, the NSSA, and the AMAC Foundation are not affiliated with or endorsed by the United States Government, the Social Security Administration, or any other state government..
My wife and I are moving and would to give social security our new address.
Jerry:
If you have a mySocialSecurity account, you can update your address there. Just sign in, click on “My Profile” and then the “Update Contact Information.” If you do not have a mySocialSecurity account, then go to this website–https://www.ssa.gov/locator–to local your local office and convey the information to them. Click the “Locate An Office By Zip” to find the telephone number.
We recommend establishing a mySocialSecurity account if you haven’t already done so. You can do this right from the https://www.ssa.gov/locator weppage…it’s pretty simple!
Thanks for contacting us!
Gerry Hafer
AMAC Foundation
CONFIDENTIALITY NOTICE: The contents of this message, including any attachments, are confidential and are intended solely for the use of the person or entity to whom the message was addressed. If you are not the intended recipient of this message, please be advised that any dissemination, distribution, forwarding, printing, copying, or use of the contents of this message, and any attached documentation, is strictly prohibited. If you received this message in error, please notify the sender. Please also permanently delete all copies of the original message and any attached documentation. The opinions and interpretations expressed in this message are the viewpoints of the message’s author, a trained advisor accredited under the National Social Security Advisors program of the National Social Security Association, LLC (NSSA). The author, the NSSA, and the AMAC Foundation are not affiliated with or endorsed by the United States Government, the Social Security Administration, or any other state government..
I’m looking for Social Security workshops in my area near New Haven, CT (845)239-3431 Can I receive class/workshop schedules? Thank-You
Howard:
The Social Security Concierge Service discussed in this article is a contract service the AMAC Foundation offers to companies not having staff well-versed in Social Security details, rules, and options. Our only other workshop is an annual update on Social Security, focusing on the program’s rules and changes for the current year. Our 2023 edition of this workshop has not been scheduled yet, although it will likely be held in February. It will be live-streamed for viewing over the internet. Check our Foundation website’s Events page for details when they are posted.
In the meantime, if you have any questions about Social Security and how the rules apply to your specific situation, please contact our Social Security Advisory Service at 888-750-2622 or by email at [email protected]. This is a free service, and you can learn more about it at http://www.AmacFoundation.org/Services.
Gerry Hafer
AMAC Foundation
I am 56 years old. I have worked many places since I was 16. Never had one permanent job. I need to know what age should I apply for social security and how many years would they add my social security? I am totally new at this.
Sharman
The earliest you can apply for your Social Security benefits is age 62. Your Social Security benefits are based on your highest 35 years of earnings, and your earnings through age 59 are adjusted for inflation. If you have not yet created a MySocialSecurity Account online, you may want to do so. This will let you see your earnings record and your current Social Security estimates for age 62, your full retirement age (FRA) of 67, and at age 70. Use the following link for creating your own account: https://www.ssa.gov/myaccount/?gclid=Cj0KCQiA54KfBhCKARIsAJzSrdqy25I99Ad4iHp-OeUYBAFZ0SHntu904MPrlWXYJkFjkU3XE8cF_ScaAhl6EALw_wcB
There are also a variety of free calculators available on the Social Security website for your use to help you determine the effect your current and future earnings will have on the amount of Social Security benefits you will receive when you decide to claim them. Please use the following link to the calculators: https://www.ssa.gov/benefits/calculators/ The one named “Online Calculator” along with your earnings statement (which you can obtain online in your MySocialSecurity account) will give you the best estimate if you leave it set at “today’s dollars.”
If you have further questions please contact us at [email protected] or 888-750-2622.
Sharon Kleczka RSSA
AMAC Foundation