Contributor ⭐

Share your concerns about Social Security

Forum|Forum|14 years ago
September 27, 2011
337 replies
187704 views

1) In the article, Social Security Fears, many Social Security myths are addressed. What concerns you the most about Social Security?

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wchrismer

Contributor ⭐

I have a question. I have a Civil Service Retirement (CSRS) and I worked a part-time job during my working years to support my son after my divorce. I am currently 69 years old. I am remarried. I collect my CSRS retirement now and 4 years ago wanted to start collecting social security. I was told I could only collect an offset portion because of my CSRS retirment. Originally it was supposed to be $1300 but now I only get $310. This was not what I was counting on since the last three years of employment I made $52,000 and paid into SSA. Is there any recourse?

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CaddyGrn

Contributor ⭐

I don't think there is any recourse... as a retired educator I am in the same boat. Only get 25% of what was put in. Thank that one to Ronald Reagan...didn't think we should "double dip". The only recourse is to write to your senator and congress people and advocate to eliminate that blockage... a lot of people find this out way after the fact, very unfair as many other government employees get both their full retirement benefits. 😞 Discrimination in my book.

kleino

Contributor ⭐

My concern is that people don't understand it, espouse lies and fallacies and think that someone has stolen their money. I hate to tell these folks that they live in a fantasy but the facts do matter:

1. no one has stolen their money

2. the average retiree gets payments that FAR EXCEED what they put in - so in fact, Social Security IS an entitlement program. If you have been collecting social security more than 5 years, your payments are likely funded out of the checks of your children and grandchildren, NOT money you put in

3. The ONLY way to make Social Security better is to take MORE MONEY out of the checks of your children and grandchildren as you quickly exhaust the money you have contributed (usually within 5 years of receiving benefits).

Money does not come out of nowhere. Someone pays it and it is the younger generations supporting the SS system.

This post will anger some people as they would rather hold on to their beliefs and fantasies rather than accept the facts. Note that all of these facts can be verified by reading the Social Security Annual Trustee Report. Additionally, I show you my Social Security Benefit Statement and explain what it really means.

I realized in my 30s that Social Security, as constructed, would not be available when I reached full retirement age. Those who are now collecting should be VERY grateful for the entitlement and never ever complain. This is the 6th year that Social Security will be cash negative (pays out more than it takes in).

Please, if you do not know the facts, please do not reply with opinions or misperceptions. I have been a CPA for 40 years and have an MBA from a top school so I am very good at math, interpreting the facts and staying clear of opinions not supported by facts.

I am not stating that recipients should not get more or that the Social WSecuity is good or bad. I am making no judgements but merely explaining what is true.

NOTHAPPENING

Contributor ⭐

The proper way to figure if Social Security is a good deal or not is to take the money they put in, plus the money their employer put in, and now comes the hard part. Look at the S&P500 and look at the average growth during those years. Now it gets really complicated since you and your employer put money into the SS fund each month so you are really compounding the amounts along with the S&P500 growth. Anyone doing the detail math will find out soon that they are getting shortchanged by the Government and in reality this is a transfer of wealth to others and NOT an entitlement program (like welfare).

If you neglect the growth of your money, then it looks like the Government is GIVING you a generous amount.

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mandm84

Contributor ⭐⭐

After Trump " takes " Iraq's Oil , maybe he will put the profits into our S.S. War Chest !!!

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k212924s

Contributor ⭐

I received a back award of 35000, on my social security disability ward plus my monthly payment. I am being taxed on $ 55000. I'm scared to death to get my taxes done. I wasn't aware that I would have to pay taxes on this income

cat0w

Conversationalist ⭐⭐⭐

@k212924s

I suggest you visit the IRS web site and look at, Social Security Benefits Worksheet. Use this link below.

https://www.irs.gov/pub/irs-pdf/i1040gi.pdf (See Page 30)

IRS https://www.irs.gov/

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KathleenC719125

Contributor ⭐

No concerns at all. Everything is awesome.

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AimeeV753757

Contributor ⭐

I have an issue with social security saying i owe an overpsyment and i have asked for an appeal. They havent gave me my date yet but they took my tax refund. I am found guilty and punished without the chance to defend myself is this correct?

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lurixrich

Contributor ⭐

Sounds like Social Security overpaid you in prior months and IRS is paying itback from your tax refund.

Why is SS claiming they overpaid you? You should have gotten letter explaining what you owe back , how its was computed, and why. If you are talking a few hundred dollars, can't SS take it out of you future checks assuming SS is right. Or if you are fraudulently getting SS, (say $10-20K in past payments), you need a lawyer to defend you cuz you willingly committed fraud. Some people dont tell SS when a parent died, still getting monthly SS checks (and cashing them) for deceased. They think SS and US wont find out...WRONG!!!

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DeborahW748656

Contributor ⭐

Ok. I read that getting royalty checks from music is ok but if you go on vacation or basically have to pay 700 dollars for a clutch they'll take your check. I mean imagine always being broke and a song fixed it to where you're not rich but you have some extra money. I don't feel you should lose your check just because you basically had to get a car repair and probably had been driving it without a clutch for 2 years. I know I'm not allowed to save but 7 grand. So what if I took the royalty checks and just saved them. Not spend tons of money and once I got enough then I could make it. But it's like you can't get ahead. So I'm trying to figure out what to do when I start getting paid.. I'm not gonna lie. I'll report it if it 10 thousand or more. Isn't that the rule? But if I get 10 thousand dollar checks 12 months in a row I'd have to split that up into monthly payments if I'm smart and it wouldn't last me 7 years due to inflation. Now I don't count on getting much. Maybe a couple of hundred but if I get enough I'll keep what I worked for as long as I can. I paid in every time to draw what I draw. Nobody is giving it to me. The govt takes that out and uses it interest free but always want reasons to take it. So how do I avoid losing my check if I start seeing some good money off of my songs. People recorded them for free and did videos for free cause they knew I didn't have any money. But this money coming back would be a ret urn on what I did have to pay for and also updating. So technically I'd be getting money back that I invested. So there would be no profit to it. Singing a 3 minute song is a lot different than gruelling in a factory 60 hours a week. If a car has ball joints that go bad you just replace them. When that stuff happens to a person their lives are changed forever. Thank you for reading.

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ChristopherS744798

Contributor ⭐

I am a 56 year old who is currently going through my first CDR. I have been receiving SSDI benefits since 2014 and am wondering if any AARP members have been through a CDR and what was their experience with the process.

GailL1

Community Champion ⭐⭐⭐

@ChristopherS744798

Hopefully, I can ease your anxiety over this.

CDR's are a normal course of reviews for many on SSDI unless their condition is deemed terminal or is one of the many listed on the Compassionate Allowance list - which are incurable and very debilitating. For each of the major body systems, the Compassionate Allowance and other diagnosis lists considers maladies so severe that it prevents a person from completing substantial gainful activity. If your condition is not on the list, they have to decide if it is as severe as a medical condition that is on the list. If it is, They will find that you are disabled.

Your condition must significantly limit your ability to do basic work such as lifting, standing, walking, sitting, and remembering – for at least 12 months. But since many conditions aren't life threatening or completely debilitating, The use of CDR's is used to determine improvement or not. The medical CDR's. gives you the chance to document further your disability. I believe there are also financial CDR's but that may be just for SSI beneficiaries.

If you have been on SSDI or even SSI for and this is the 1st one that you have gotten then it is most likely rated as a severe condition,

Social Security uses this as a guidance on scheduling CDR's:

The SSA assigns individual review schedules ranging from every six months to every seven years based on the likelihood that you will experience medical improvement. If medical improvement is:

“Expected,” the case will normally be reviewed within six to 18 months after benefits start.
“Possible,” a case will normally be reviewed no sooner than three years.
“Not expected,” the cases will normally be reviewed no sooner than five to seven years.

:You seem to be in the "not expected" measure.

Read over this and if you have more questions, I will try to help you.

ALLSUP: Ten Key Facts You Need to Know About Continuing Disability Reviews

Once you turn in your CDR - you will be advised if a true physical for medical review is necessary - probably not in you case.

IT‘S ALWAYS SOMETHING . . . . .. . . . Roseanne Roseannadanna

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ChristopherS744798

Contributor ⭐

I have a daily fear that my SSDI. benefits will be stopped or reduced for no valid medical explanation .Just the government trying to terminate deserving recipients benefits .

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MaureenL7403

Contributor ⭐

I see AARP sent a letter to President Trump on August 13, 2020 asking for details on his plan to eliminate payroll tax which for 85 years has funded our Social Security benefits. Has there been a response from the White House? How will AARP advocate for us on this important topic?

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jimh197745

Contributor ⭐

RE Current Social Security Advocacy email Campaign:

I support Social Security BUT your advocacy email form/software requires the full 9 digit zip code!

I know you provide a link to USPS but NOBODY WANTS TO GO TO THAT TROUBLE!

THE 9 DIGIT ZIP IS NOT THAT IMPORTANT!!!

YOU ARE LOSING A HUGE POPULATION OF SUPPORTERS AND RESPONSES OUT OF FRUSTRATION!

YOU THINK 119,524 IS A GOOD RESPONSE OUT OF 38 MILLION MEMBERS? THAT'S 0.314%

THAT IS A COMPLETE FAILURE & A WASTE OF OUR MEMBERSHIP DOLLARS AND OUR MEMBERS!

Please contact the AARP Grassroots Advocacy team to correct this problem.

PLEASE CHANGE YOUR SOFTWARE TO ASK FOR ONLY THE STANDARD 5 DIGIT ZIP ASAP!!! YOU WILL INCREASE RESPONSES 100 FOLD! THANKS

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