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Share your concerns about Social Security

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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I am a Senior 71 and have a Social Security account but I am unable to sign in to the account because I never receive a text message on my phone to confirm entry and access to the account. A message never arrives on my phone and I have a good connection and this Text confirmation issue only happens with SS.

Additionally, I am entitled to a stimulus check and never received #1  one and all my tax returns are current and I qualify. I am still working and contributing to SS and do not understand why this is happening if it is only me or happening elsewhere. Thanks.

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Newbie

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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Newbie

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?

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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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.

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Honored Social Butterfly

@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. 

 

 

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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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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Honored Social Butterfly


@AimeeV753757 wrote:

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?


Did you file form SSA -632 and were clear about your reasons?  Did you hear back from them on any reconsideration?

 

Social Security Admin - Publication - OVERPAYMENT

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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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No concerns at all. Everything is awesome.

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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

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Honored Social Butterfly


@k212924swrote:

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


I came back to tell you specifically what the IRS says about your problem and the options they give you to figure any tax that might be due, if any.

 

IRS - FAQ on Taxing of Back Payments of Social Security benefits

 

You DO NOT have to file amended returns but you must use the LUMP SUM ELECTIONS method of figuring any tax is due.

 

Go to IRS Publication 915 and then scroll down to the highlighted term LUMP SUM ELECTION for complete instructions on completing the worksheet.

 

IRS - Publication 915 - Social Security Benefit (Taxation Worksheets)

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Honored Social Butterfly


@k212924swrote:

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


In a nutshell - you may or may not be taxed on some or all of your SSDI benefit because the the amount of your benefit that is taxable depends on how much you have in other income.

 

However, in your case since it was a back award - did this amount cover several years?  You may have to go back and amend old returns - consult an IRS Certified Enrolled Agent or a Tax Professional.

 

IRS - Regular Social Security and Social Security Disability Income - FAQ

 

Social security benefits include monthly retirement, survivor and disability benefits.

 

The net amount of social security benefits that you receive from the Social Security Administration is reported in Box 5 of Form SSA-1099, Social Security Benefit Statement, and you report that amount on your income tax return (Form 1040, line 20a or Form 1040A, Line 14a).

 

The taxable portion of the benefits that's included in your income and used to calculate your income tax liability depends on the total amount of your income and benefits for the taxable year. You report the taxable portion of your social security benefits on Form 1040, line 20b or Form 1040A, line 14b.

 

To find out whether any of your benefits may be taxable, compare the base amount for your filing status with the total of:

  • One-half of your benefits; plus
  • All of your other income, including tax-exempt interest.

The base amount for your filing status is:

  • $25,000 if you're single, head of household, or qualifying widow(er),
  • $25,000 if you're married filing separately and lived apart from your spouse for the entire year,
  • $32,000 if you're married filing jointly,
  • $0 if you're married filing separately and lived with your spouse at any time during the tax year.

If you're married and file a joint return, you and your spouse must combine your incomes and social security benefits when figuring the taxable portion of your benefits. Even if your spouse didn't receive any benefits, you must add your spouse's income to yours when figuring on a joint return if any of your benefits are taxable.

 

 

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Silver 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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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.

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Honored Social Butterfly

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.

Contributor

Social Security has been robbed by governments and replaced by IOUs. I believe the government owes 1 trillion. Why are we in a bind.
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@ls7857134 wrote:
Social Security has been robbed by governments and replaced by IOUs. I believe the government owes 1 trillion. Why are we in a bind.

All Social Security funds NOT used to pay current benefits are placed in special treasuries and are paid interest by the government (us) until they have to be used to pay benefits. 

 

That's one of the problems - paying benefits has taken over just about all of the current collections, so we aren't socking away enough to cover those who are retiring at the current baby boomer rate of 10,000 a day.

 

Social Security benefits have always been paid by those currently working.

But once we had about 16 people working for each person receiving Social Security benefits - now it is down to, I think, about three and is now on its way down to two, then maybe one.  Automation is taking its tole here.

 

 

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You say "paying benefits has taken over just about all of the current collections, so we aren't socking away enough to cover those who are retiring at the current baby boomer rate of 10,000 a day."

 

This is accurate and in fact, social security has been cash negative since 2011.  For some reason (laziness?) people form opinions while taking no time to get the facts.  And the facts are, as you state:

The federal government has taken the cash from the social security fund and replaced it with Treasury Securities.  However, if Social Security is cash negative (pays out more than it takes in) and the US Government as a whole is cash negative (i.e. budget deficits year after year), my pencil cannot figure where the cash will come from to redeem the Treasury securities.  Perhaps we will borrow more from the Chinese, if they are willing to lend.
Larry Klein CPA,retired

Honored Social Butterfly

Yep, you are right, kleino, we are just flat broke - but what do numbers matter? !?

 

We could have a real lockbox for an account for each person that has ever paid a nickel into the SS system with all the numbers of contributions and any earnings but if there is no money anywhere to back it up -'is it really there at all?

 

Social Security Trust Fund Data

 

In 2016,  we collected ( in millions) 

we collected from payroll tax contributions . . . . . . . . .  836, 178

we collected from taxes on benefits . . . . . . . . . . . . . . . . 32, 817

we collected from net interest on spec. Treasuries . . . .  88, 356

we collected from Gen. Fund reimbursements . . . . . . . . . .  102

Total income going into SS in 2016 . . . . . . . . . . . . . . . .957, 453

 

In 2016, we paid out (in millions )

We paid out in benefits paid during 2016 . . . . . . . . . . . 911, 384

we transferred to the railroad retirement . . . . . . . . . . . . .  4, 663

we paid out in administrative cost . . . . . . . . . . . . . . . . . .  6, 229

Total Expenses coming out of SS in 2016 . . . . . . . . . . . 922, 276

 

So that everybody understands your comment about it paying out more than it is taking in,  as the SS Actuaries talk about it, this means that payroll tax contributions do not fully cover the benefits being paid out.  Now we are relying upon the other income coming into the program yearly to make up the difference and add a very small amount to the Trust Fund reserve.  We use to buy these special treasuries for excessive income into the program to earn interest, but now we have to use this income from these treasuries to meet the benefits.

 

But again you are right, these are only numbers in a specific account when in reality the U.S. Is surviving off debt.  Let's just hope the creditors don't come to collect.  Woman Frustrated

 

 

Newbie

On the monies going out - I am confused: How many folks are collecting Social Security Disability dishonestly? This includes those billboards in West VA whereby a lawyer offers to help people collect (hmmmm) to illegal immigrants coming in and getting on disability (can they?). I saw a YouTube called: Dearborne Michigan about all the (HAPPENS to be Moslems) coming here and going on Medicaid and Social Security, have 5 kids, driving Mercedes, refusing to learn the language....

 

SO QUestion: as we being taken for fools? I ASK this as I learn corporate America has massive age discrimination, I can NOT get hired back into my old career parth (this started at age 58 and I'm now 63) and so LOOKING at filing....to learn that BECAUSE Social Security is going broke, our professional career politicians passed something in the cloak of night that IF I make OVER poverty level, I have to pay BACK $1 for every $2 of social Security benefits I earn. REALLY? THIS IS EVIL, malfeasance, dispictable.....(BOTH sides of the aisle have allowed this - our "Professional Career politicians" ALL prance away multi-millionaires with guaranteed lifetime pensions and healthcare WHILE compromise OUR quality of income in old age???? Very angry. 

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Honored Social Butterfly

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

Contributor

Why are all these comments ANTI democratic party??? Sounds like something going on that has a bad smell.....
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You inherently argue for privatization so we could all invest our money in the S&P 500 or however we want.  I couldn't agree more and don't know why people are so adamant about the poor return they get under the current scenario. 

Newbie

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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Periodic 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.

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I have a question I have been married for6 years now my husband told me we will have to get divorced in the future to be able to claim befits. Him his and me mine is this true ? Really concerned about this. 

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Honored Social Butterfly


@Svrlrr2008 wrote:

I have a question I have been married for6 years now my husband told me we will have to get divorced in the future to be able to claim befits. Him his and me mine is this true ? Really concerned about this. 


NO, it is not true.  Maybe he was just messin' with you ! ?   Married partners sometimes do that - Best to understand it yourself because it is YOUR benefit that each of you have supported (contributed to) through your working years.

 

But if a divorce rears its ugly head in the future, make sure you stay married at least 10 years, in case the spousal benefit is bigger than your own benefit.

At the 10 year marriage mark, Uncle Sam thinks each party is then vested.

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