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Who Gets Benefits from Social Security?. 57 million people. 4.3 million Widows/ Widowers. 8.8 million Disabled Workers, 2.1 million Dependents. 1.9 million Dependent Children of Workers. 36.7 million Retired Workers 2.9 million Dependents. A Foundation for Planning Your Future.

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Presentation Transcript
slide2

Who Gets Benefits from Social Security?

57 million people

4.3 million

Widows/ Widowers

8.8 million Disabled Workers, 2.1 million Dependents

1.9 million

Dependent Children of Workers

36.7 million Retired Workers

2.9 million Dependents

slide4

Your Age When You Retire Affects Your Benefits

If You’re A Worker and Retire:

At age 62, you get less money permanently

At your full retirement age, you get your full benefit

You get even more money if you wait past your full retirement age

slide5

Full Retirement Age

If you were born between 1943 and 1954

Your full retirement age is 66

slide6

How Social Security Determines Your Benefit

Social Security benefits are based on earnings

Step 1 Your wages are adjusted for inflation

Step 2 Find the average of your 35 highest earnings years

Step 3 Result is “average indexed monthly earnings”

slide9

In Addition to the Retiree,

Who Else Can Get Benefits?

Your Spouse

At age 62

At any age if caring for child under 16 or disabled

Divorced spouses may qualify

Your Child

Not married under 18

(under 19 if still in high school)‏

Not married and disabled before age 22

slide10

Who Can Get Survivors Benefits?

Widow or Widower:

Reduced benefits at age 60

If disabled as early as age 50

At any age if caring for child under 16 or disabled

Divorced widows/widowers may qualify

If Your Child Is:

Not married under age 18 (under 19 if still in high school)‏

Not married and disabled before age 22

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Who Can Get Medicare?

65 & older

OR

Receiving Social Security disability

benefits at least 24 months

OR

Permanent Kidney failure

OR

Amyotrophic Lateral Sclerosis (ALS)‏

medicare coverage and premiums
Medicare Coverage and Premiums

Senior Linkage Line 1-800-333-2433

* May be more for higher income individuals – only affects 4% of total Medicare beneficiaries

slide13

When Can I Sign Up for Medicare Part B?

Medicare Enrollment Periods:

  • Initial – at age 65
  • Special – if still working
  • General – January-March

62

my social security
mySocial Security
  • Your Online Account ... Your Control ... www.socialsecurity.gov/myaccount

my

slide17

How Do I Apply for Retirement Benefits?

  • Apply online at www.socialsecurity.govIt is the most convenient way to apply
  • Call Social Security to schedule an appointment
  • 1-800-772-1213
  • Apply at your local Social Security office
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