Are You Savvy About Social Security?

[AARPLynne]

Is this statement True or False? "Your birth date affects when your monthly Social Security benefits are paid."

...the answer is True. If your birthday falls between the first and 10th of the month, you will be paid on the second Wednesday of the month. People with birthdays that fall between the 11th and 20th will get paid on the third Wednesday of the month, and those with birthdays between the 21st and 31st will get paid on the fourth Wednesday. This does not apply to Supplemental Security Income (SSI) benefit payments.

Find out how savvy you are about Social Security by taking our quiz. Let us know how you did!

[RonaldV745070]

S.S. is paid on 1st or the last day of work week closest to the 1st.

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[GailL1]

What You Need to Know When You Get Retirement or Survivors Benefits - SSA 2016 Publication EN-05-100...

from the above SSA publication:

We pay Social Security benefits monthly. The benefits
are paid in the month following the month for which they
are due. For example, you would receive your July benefit in
August. Generally, the day of the month you receive your
benefit payment depends on the birth date of the person for
whose earnings record you receive benefits. For example,
if you get benefits as a retired worker, we base your benefit
payment date on your birth date. If you receive benefits
based on your spouse’s work, we base your benefit payment
date on your spouse’s birth date.

Date of birth . . . . . . . . . . . . . . Benefits paid each month on
1st - 10th . . . . . . . . . . . . . . . . . . . Second Wednesday
11th - 20th. . . . . . . . . . . . . . . . . .  Third Wednesday
21st - 31st . . . . . . . . . . . . . . . . . . Fourth Wednesday

If you receive both Social Security and SSI benefits,
your Social Security payment will arrive on the third of
the month and your SSI payment will arrive on the first
of the month.

Here is another link -

SSA 2017 schedule calendar of benefit payments

[GAIAOFSPIDERS]

To resond to the Inquiry if ones's DOB. affects when they receive their S.S. First, I am unfortuntely on SSDI-something I never counted on, or why would I have Earned a Maseters of Science? Though I miss field work (impossible 4 me due to current mechanic failures). I live soley on SSDI, which has DECREAED for the past two years. I have been reliant on this povery-level income for > a decade. My D.O.B, includes a date within the LAST week of the month I was born. I Have NEVER received my treasured SSDI, any later than the 3rd of each new month. There may be a host of 'Other' requirements, as I am single, and without assets (except cats). I do not own a home or car. I continue to work on a voluntary basis-to educate the masses about the Reality and Future that Global change holds for Humanity, and as we all are aware, the pending dissappearance of the largest, most well known mammals on Earth. Our Inteference with the global Ecology Humans are Inherently reliant on....will haunt the quaity of life in the future.

     As Far as I've experienced, the question as to one's Birthday is Irrelevant. S.S. comes at the end of a prior month, or within the first 3 or so days of each new month. 

[6732131]

Social Security checks come on the 2nd, 3rd or 4th Wednesday of the month. 

https://www.ssa.gov/pubs/EN-05-10031.pdf

[2cuttiepie70]

My check comes on the 3rd wednesday of the month

[cgadye]

No, the first Wed of every month.

[pg9478]

Am not savvy about Social Security. I am disabled and have a disabled child over 22yrs old. We

both receive SS. My husband wants to retire at age 62 which is next year. Will he be retiring

on my retirement benfits (early) or 1/2 of my disability benefits? My retirement benefits (early) or

more than his early retirement benefits and so is 1/2 my disability benefits. Which one will he

be getting??

[cat0w]

Have you visited the Social Security web site? He needs to set up an account too. If you can't find your answer on the web site then he should visit your local social security office and talk with them. Below is a link to the web site.

https://www.ssa.gov/

Posted by,
cat0w
Texas (USA)

[evernier]

false

[sb66297763]

true

[mm84079767]

Thank you for the info. if on SS disability until i reach 66 and im only 51. Then why was i forced to join medicare and have $104.00 taken from my check for part b? Retirements 15 years away but im forced leave workforce and wish i could still work at least parttime.

[GailL1]

mm84079767 wrote
Im disabled too at 51 and get $1895.00 third wed every month dont know for how long or at which real retirement age it will drop drastically im told.boo hoo i paid $800k to SS over my working career for 36 years and the year a letter from them said employers no longer will deduct SS from payroll i went on SSI 2, years, later automatically on Medicare and, $104.00 for part b is taken from my check every month and i havent used in the 4 years ive been disabled. if i waived part b due to age i would have paid thousands when i hit retirement age. System so screwed up.

______________________________________________________________________

mm84079767 wrote


Thank you for the info. if on SS disability until i reach 66 and im only 51. Then why was i forced to join medicare and have $104.00 taken from my check for part b? Retirements 15 years away but im forced leave workforce and wish i could still work at least parttime.
__________________________________________________
I am going to attempt to explain a few things about our system of Social Security and Medicare to you in hopes that you can understand how things work.

When you were working, you had FICA taxes withheld and these were matched by your employer unless you were self employed; the self employed (sole proprietor) pay both portions themselves.

These FICA taxes are divided into certain Trust Funds by an allocated %.
Social Security Old Age and SUrvivors Insurance 5.3% currently - from the employee and employer
Social Security Disability Insurance 0.9% currently - from employee and employer
Medicare ( PART A or Hospital Insurance) 1.45% currently from employee and employee

As you will notice, ONLY the Part A portion of Medicare or the Hospital insurance portion was covered by your payroll deductions while you were working.

When you became disabled, you were deemed to be unable to work for at least 12 months or longer or that your condition was terminal, if you were vested by your time working in the program, if so, then you are drawing your benefit from the SSDI program until you reach full retirement age, the you are switched to the Old Age Trust Fund.

After 2 years on the SSDI program, you are eligible for Medicare. Part A is paid for during your working years. Part B or the Doctor Insurance is paid for by premiums - most everybody pays currently the $ 104 but higher income people pay more; a lot more. Premiums cover 25% of the total program; the other 75% comes from our countries general fund.

If you had not been vested in Social Security because of a short working time, you would have been given a stipend, I think now it is about $700 a month from SSI - Supplemental Security Income which is a welfare benefit for those who are not vested into the SSDI program.

Hope this helps, I am low on battery so I cannot post more right now but ask any question and I will attemp to explain the programs in a nutshell.

[mm84079767]

Im disabled too at 51 and get $1895.00 third wed every month dont know for how long or at which real retirement age it will drop drastically im told.boo hoo i paid $800k to SS over my working career for 36 years and the year a letter from them said employers no longer will deduct SS from payroll i went on SSI 2, years, later automatically on Medicare and, $104.00 for part b is taken from my check every month and i havent used in the 4 years ive been disabled. if i waived part b due to age i would have paid thousands when i hit retirement age. System so screwed up.

[6732131]

If you are on SS disability nothing will change. You are receiving what you would have received at your full retirement age which I assume was 66. You will continue to get this amount plus any of the cost of living increases that everyone gets. That COL increase is figured with the increases in the COL of the 3 summer months. We shall know soon if there will an increase in Jan. The only that that will happen when you reach full retirement at 66 plus is that you will be considered receiving a retirement check rather than a disability check.

[dlaughman]

yes

[cheekyfun53]

That's so sad and I can't imagine what ur going thru. My husband worked at the same job for 28 yrs and past away last year but he had great, great knowledge financially and had accounts I didn't even know about, but thank goodness he left me in good hands, I am so grateful for that for I know well about struggling

[cheekyfun53]

I am disabled and I get my check the 2nd Wednesday of every month.

[josephgal007]

There is a website that will run monte carlo simulations on your specific situation and produce a report that shows you the best time to take social security to maximize your lifetime payouts. I wrote a short article on this: http://www.teknigal.com/blog/maximize-social-security-payouts

Hope this helps!

[JANMB]

There is a website that will run monte carlo simulations on your specific situation and produce a report that shows you the best time to take social security to maximize your lifetime payouts. I wrote a short article on this: http://www.teknigal.com/blog/maximize-social-secur​ity-payouts

 ********************************

If you can retire when you want to ---and can afford it then I say look into maximizing your payments.   Noone can predict how long they will live.   ( Personally I took my SS as soon as I could get it and I'm far from being affluent ----I feel I would have died earlier because work is stressful---co-workers can be stressful and even sitting hunched over on a computer is stressful----)   

When somebody in Washington proposes raising the retirement age for Social Security or Medicare, he typically says something like: "We can afford it, because we are living longer." Yes, We can afford it, when the We in that sentence applies to an audience of white rich old men and women who really are seeing their lifespans grow by leaps and bounds    . But We doesn't apply to the millions of   poor  or even middle class   whose lifespans are actually declining.    Raising the Social Security retirement age disproportionately reduces lifetime benefits for the very people Social Security was invented to protect.   MANY  others have made this point before.

[sf6941]

WHAT A TOTAL:  "Rip Off"  THAT THIS SYSTEM IS...

"Peranantly Disabled" from a Motorcycle Accident / 2 "Comas"; when I was 35...but they tell me to wait unti I a: 67 to collect my "Social Security" retirement Benefits. When belonging to: "Kaiser" Hospital - they say that I am unable to go to school, go to work, or collect my due financial payments.  How can I live on: $2.14 per hour, Married, and unable to work or make a decent Income - when the government has shut me down completelyt!!!   $300 a month Income?

I am making $7.86 under the legal minimum for minimum wage Income.. and not getting retroactive reimbursement for this illegal waiting period... I could work part time,  finish my degree, do anything except continue in this poverty state - I do not even qualify for: "Medical" Benefits, when my wife ears 5 times my Salary; and she is "Permanantly Disabled" also - with a boken neck, broken back, 2 knee replacements, and one hip replacement! 

nhra2wheels@roadrunner.com

"Steve"  F.

I see plenty of Fools getting: "Food Stamps", "General Relief", driving new cars, not working; but collecting every benefit possible from thre State of California... Broke like the nation wide debt.  Worthless Democrats - don't know what they are doing interntionally in the defense dept but putting rockets up in space / where no one will ever live or breathe with no oxygen - wasting Trillions of dollars, sending troops to Afganistan and Iraq, Etc.  That's why my neighborhood doesn't have steet lights, streets repaired, a Police station, raises taxes - so other rich peope can help pay our debts!!!!!

In Germany, there is no cost for Eduacation or Medical expenses to the average person; because it is a know fact that their taxes cover every payent, priviidge, and help pay expenses better!

"Obama" has screwed everything up, and now our children have no chance to beat the system - that "Democrats" have ruined. Elect a: "Republican" Governor in California, and a "Republican" President - Very Soon... before it is too Late.  Social Security system has too many mistakes!!!

I have been disabled for 21 years and have 12 more to go... when I can work / but have not been paid my Social Security Income; for Retired & Disabled people / entitled to be reimbursed for the very many years of taxes paid W-2 Income taxes; and deductions towards retirement wages!

When I can not go to school, go to work, or make my Social Secirity Income - this is more a: Communism than Democracy.. at least Socialism allows more benefits tan the U.S. does; lately!

[almygady]

I am 63. I applied for  Social Secirity when I retired last year. I was approved and three months later recieved a letter saying that I was overpaid.Isubmitted all of the infformation requested and was lter told that they were right I was overpaid because I also get a state retirement. They with held four checks in order to get the money they say that I was overpaid. In doing this I was not aBLE TO PAY BILLS AND SOME THINGS HAVE BEEN CUT OFF. Next month I am suppose to start gettig the adjusted payments.They took four hundred dollars form me.I think that is unfair os social security. After all its our money isn't it.

[drawpoker]

 am 63. ...I retired last year. was approved and three months later recieved a letter saying that I was overpaid.Isubmitted all of the infformation requested and was lter told that they were right I was overpaid....with held four checks in order to get the money they say that I was overpaid. In doing this I was not aBLE TO PAY BILLS AND SOME THINGS HAVE BEEN CUT OFF. ......They took four hundred dollars form me.......

______________________________________________________________________________________________

Overpayments that have to be repaid are an unfortunate fact of life.   People and systems do make errors,  and corrections must be done.

However,  that is not your real problem.   Four hundred dollars is a relatively petty amount of money.  Yet,  according to what you wrote,  this amount was the difference between being able to pay your bills and not having things (utilities?) cut off? 

You have a far more serious problem.  Where is your emergency fund?  Did you make the decision to retire with nothing more than social security and your state job pension coming in?    Nothing in liquid savings or investments you could draw on for emergencies?  

Or were you forced to take early retirement,  eased out of your job involuntarily? 

If the lack of $400 had such a dire impact on your standard of living you might want to consider finding  a p/t job to bring in more $.   

JMHO

[DavidBKeener]

Thank you!

[DavidBKeener]

Hello,

I am 72. I started drawing SS at 62. I was married for 47 years and divorced 5 years ago. Am I entitled to any of my ex's SS? Thank you.

[drawpoker]

If a spousal monthly benefit amount is higher than what you are currently drawing on your own,  yes,   soc security allows you to choose whichever gives you the higher amount.  

However,  if your ex is still living,   your spousal beneift would be only one-half of what she is getting,  unlikely to be higher than what you are drawing on your own.   But could be,   if you had a record of very low earnings.    But a spousal benefit to you as a divorced spouse would only be available if she has started drawing her soc.  security old age benefits.       

[wscemjay]

"...the answer is True. If your birthday falls between the first and 10th of the month, you will be paid on the second Wednesday of the month. "

Well, not in my case.  My birthday is the 3rd of the month, and my payment is deposited on the 4th Wednesday.

[jo9889]

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@AARPLynne wrote:

Is this statement True or False? "Your birth date affects when your monthly Social Security benefits are paid."

...the answer is True. If your birthday falls between the first and 10th of the month, you will be paid on the second Wednesday of the month. People with birthdays that fall between the 11th and 20th will get paid on the third Wednesday of the month, and those with birthdays between the 21st and 31st will get paid on the fourth Wednesday. This does not apply to Supplemental Security Income (SSI) benefit payments.

Find out how savvy you are about Social Security by taking our quiz. Let us know how you did!

---

AARPLynne,  I took the quiz and take exception to #6:

6.An annual cost-of-living adjustment (COLA) is guaranteed. 

Your Answer : True Correct Answer : False

COLA increases are based on inflation. If there is no inflation in a given year, benefits will remain the same in the following year.

The correct answer is "True" even when there's no inflation.  The COLA benefit was available, computed, and not denied.  It just was shown to be a zero increase over the previous year

If the question were stated as, "An annual Social Security benefit increase is guaranteed" then the  answer would be "false". 

Any reference to COLA infers a proportionate relationship with inflation...unless you know of a COLA not tied to inflation.

Please change my grade to 100% correct. Thank you.