Social Security Disability

Here’s the Average Social Security Check for Retired Workers, Survivors, and the Disabled
Social Security Disability

Here’s the Average Social Security Check for Retired Workers, Survivors, and the Disabled

Whether you realize it or not, there’s likely no social program more important to the financial well-being of seniors in this country than Social Security.
What you may not realize is what Social Security does for more than 19 million other people each month.
How much do retired workers, survivors, and the disabled receive each month from Social Security?
The average retired worker benefit Retired workers accounted for almost $60 billion of the $80 billion paid out in January, and comprise 42.6 million of the 62 million total beneficiaries.
It’s also worth pointing out that the Social Security Administration (SSA) suggests the average retiree should aim to replace 40% or less of their wage income with payouts from Social Security.
The average monthly payout for survivors According to the latest Social Security snapshot, the SSA paid an average of $1,152.22 to “all survivors,” which is an average of the nearly 6 million people receiving a check each month, including nondisabled and disabled widow(er)s, children of deceased workers, widowed mothers and fathers, and parents of deceased workers.
In the case of a widow or widower, as long as the survivor benefit is higher than what they’d receive each month based on their own work and earning history, they can claim the higher survivor benefit.
The average check for disabled workers Last but not least, nearly 8.7 million disabled workers receive an average monthly payout of $1,197.07, working out to $14,363.84 a year.
As with the other categories, the average disabled worker will earn enough from Social Security to move above the federal poverty level, but not by much.
Should an individual have worked, but not have reached 40 lifetime work credits prior to their long-term disability, a reduced-credits scale relative to age can be used that, in many instances, qualifies a disabled worker for monthly benefits.

7 Things You Need to Know About Social Security Disability Benefits
Social Security Disability

7 Things You Need to Know About Social Security Disability Benefits

There’s also a Social Security program that pays disability benefits based on your work history, which can provide a valuable inflation-protected income stream if you become unable to work.
With that in mind, here are seven things American workers and their families should know about Social Security disability insurance.
There are two forms of Social Security disability insurance Generally, when you hear someone refer to “Social Security disability,” they’re talking about Social Security Disability Insurance, or SSDI.
The minimum duration of work required varies from 1.5 years for workers who become disabled before age 28 to 9.5 years of work for workers who become disabled at age 60.
Second, you need to be disabled (obviously).
How much would you get if you became disabled?
Just like with retired workers, your average Social Security-taxed earnings are used to determine your disability benefits.
In general, the amount you can expect to receive from Social Security Disability Insurance is slightly less than you could expect to receive had you worked until full retirement age.
You’ll need to create an account at www.SSA.gov if you haven’t done so already, and you can then view your statement, which is packed with valuable information about your Social Security and Medicare benefits, including how much you could expect to get from disability benefits if you were to qualify for them this year.
You may still need disability income insurance Social Security retirement benefits are designed to replace about 40% of the average worker’s income.

Bernie Sanders Says ‘Cardi B Is Right’ About Who Really Made America Great Again
Social Security Disability

Bernie Sanders Says ‘Cardi B Is Right’ About Who Really Made America Great Again

Getty The former presidential candidate on Wednesday tweeted about Cardi B, Social Security, and making America great again, prompting some to scratch their heads and others to say, “2018 is great!” (OK, fine, the “others” is really us).
Social Security Works first tweeted a graphic of Cardi B’s comment about former President Franklin Delano Roosevelt: “He’s the real ‘Make America Great Again,’ because if it wasn’t for him, old people wouldn’t even get Social Security.” That quote came from the rapper’s interview with GQ last week in which she said she loves FDR and political science.
“I’m obsessed with presidents.
I’m obsessed to know how the system works,” she told the publication.
On Roosevelt, she said: “He helped us get over the Depression, all while he was in a wheelchair.
Like, this man was suffering from polio at the time of his presidency, and yet all he was worried about was trying to make America great—make America great again for real.
He’s the real ‘Make America Great Again,’ because if it wasn’t for him, old people wouldn’t even get Social Security.” Sanders retweeted the graphic with the snippet from the interview, adding: “Cardi B is right.” Cardi B is right.
If we are really going to make America great we need to strengthen Social Security so that seniors are able to retire with the dignity they deserve.
His idea would eliminate the cap on taxable income so that “everyone who makes over $250,000 a year” no longer “pays the same percentage of their income into Social Security as the middle class and working families.” According to The Hill, this legislation would increase Social Security benefits for seniors who make less than $16,000 “by about $1,300 annually.” It would also “increase cost-of-living-adjustments and lift more seniors out of poverty by increasing the minimum benefits paid to low-income seniors.” We see those money moves, Bernie.
The only question now: Does Cardi feel the Bern?

Financial stress is rising for low- and middle-income U.S. households
Social Security Disability

Financial stress is rising for low- and middle-income U.S. households

USA TODAY Despite an improving economy that should be easing the financial struggles of all Americans, a growing number of low- and middle-income households are plagued by high debt and have little or no savings.
They are people like Alejandra Mejia of San Jose, Calif., whose paycheck can’t cover higher housing costs.
Or Dawn Thorp, in Phoenix, whose disability payments don’t offset higher gasoline prices, electric bills or rent.
Such people are far more likely to eventually fall behind on loans and rein in spending.
Even more troubling: About 25 million low-income households that earn $23,000 or less face growing burdens, with nearly half of that bottom 20% of income earners stressed in 2016, up from 45% in 2013, UBS figures show.
Only 3.6% of households in the top 40% of income earners were stressed in 2016, down from 4.5% in 2013, UBS figures show, with many enjoying both low mortgage rates and soaring stock prices.
More: How to lower your housing costs, whether you rent or own More: Here’s how many hours of work it takes to pay rent in 11 major U.S. cities
“It’s very difficult,” she says, adding that she can’t afford a car or new clothes for her children and has no savings.
That debt figure is near an all-time low.
The share of all households at least 90 days delinquent on auto loans rose from about 3% to 4.1% between 2014 and 2016, UBS figures show.

U.S. Debt Load Seen Worse Than Italy’s by 2023, IMF Predicts
Social Security Disability

U.S. Debt Load Seen Worse Than Italy’s by 2023, IMF Predicts

Greenspan says tax cuts problematic because they’re unfunded Trump’s budget chief urges Congress to approve spending cuts Mamma Mia!
In five years, the U.S. government is forecast to have a bleaker debt profile than Italy, the perennial poor man of the Group of Seven industrial nations.
The U.S. will also place ahead of both Mozambique and Burundi in terms of the weight of its fiscal burden.
U.S. debt-to-GDP ratio projected to surpass Italy’s Expected debt-to-GDP ratios in G7 countries in 2023 Source: International Monetary Fund The numbers put renewed focus on the U.S. deteriorating budget after the enactment in December of $1.5 trillion in tax cuts, and the passage more recently of $300 billion in new spending.
The central bank’s most recent forecasts show a median estimate of 2.7 percent for this year’s expansion slowing to 2 percent in 2020, while the CBO sees GDP growth slowing from 3.3 percent this year to 1.8 percent in 2020.
Former Fed Chairman Alan Greenspan, speaking in an interview Wednesday with Tom Keene on Bloomberg Television, said lowering corporate tax rates was a good move.
“The trouble, unfortunately, is it’s unfunded,” he said, adding that Republicans should have done “spending cuts first before you try to do tax cuts.” Higher Spending Spending, meanwhile, is rising.
“This president, obviously, is not a president that’s interested in fiscal issues,” Senator Bob Corker, a Republican from Tennessee, said in Washington earlier on Wednesday.
“This issue is not going to be dealt with without a strong charismatic president who really wants to take it on.
Mulvaney said the CBO’s projection of the effects of December’s tax cuts, which sees them adding $1.9 trillion to deficits over about a decade, is way off base.

One For Two Or Why Service Is Still Going To Suck Even With A Bigger Appropriation
Social Security Disability

One For Two Or Why Service Is Still Going To Suck Even With A Bigger Appropriation

Wait times at the agency’s field offices and on the agency’s 800 number service are awful.
I suspect they’re getting much the same treatment.
Even with lots of overtime you’re going to get less work done as your workforce dwindles.
How is it that field office staffs are being cut even though the appropriation has gone up?
Republicans in Congress and in the Executive Branch have wanted to make sure that any increase in administrative funding for Social Security goes not to hiring employees but to contractors.
I think that, at best, Republicans in Congress and in the Executive Branch are indifferent to service at Social Security.
They’re also naive about service at Social Security.
They think that field office and 800 number service is unnecessary, that people will just switch to doing their business with Social Security over the internet if we quit babying them.
They don’t get that helping people file retirement claims is only a part of the workload at the field offices.
Was it made at Social Security?

Opinion: Bernie Sanders – Stand up for seniors
Social Security Disability

Opinion: Bernie Sanders – Stand up for seniors

Sen. Bernie Sanders, I-VT, talks with Aki Soga of the Burlington Free Press in an exclusive interview on Tuesday, April 3, 2018, saying that the nation must stop President Trump’s reactionary agenda by electing progressive democrats to office.
As I travel around the state, I often meet older Vermonters who are struggling just to get by.
The bad news is that President Trump’s proposed budget would have made the situation much worse.
He called for major cuts to Medicare, Medicaid, Social Security Disability and many other programs that help seniors stay healthy and secure.
We must also make sure Social Security beneficiaries receive their benefits in a timely manner.
Over the previous eight years, Congress cut Social Security’s operations budget by 16 percent.
Here in Vermont, two of our three field offices have seen an almost 30 percent reduction in staffing.
Another issue I regularly hear about from seniors is the skyrocketing cost of prescription drugs.
Meanwhile, the top five drug companies made more than $50 billion in profits last year alone.
We must allow Medicare – which spends tens of billions on prescription drugs – to use its leverage to negotiate lower drug prices.

Opinion: Hundreds of retired Major League players denied pensions because of union error
Social Security Disability

Opinion: Hundreds of retired Major League players denied pensions because of union error

Biscuits pitcher J.D.
Martin talks about learning to be that rare pitching sight, a knuckleballer.
Stacy Long Six hundred forty four people who played Major League Baseball are being denied pensions by both the league and the union representing the current players, the Major League Baseball Players’ Association, because of a error the union committed 38 years ago.
In order to avert a threatened 1980 Memorial Day Weekend walkout by the players, MLB made the following sweetheart offer to union representatives: going forward, all a post-1980 player would need to be eligible to buy into the league’s premium health insurance plan was one game day of service; all a post-1980 player would need for a benefit allowance was 43 game days of service.
According to the IRS, a current MLB retiree can receive a pension of up to $220,000.
The pre-1980 players alive at the time were each awarded payments of $625 per quarter, up to 16 quarters, for every 43 game days of service the man had.
Even though Forbes recently reported that the current players’ pension and welfare fund is valued at $2.7 billion, MLBPA Executive Director Tony Clark — the first former player ever to serve as leader of the union — has never commented about these non-vested retirees, many of whom are filing for bankruptcy at advanced ages, having banks foreclose on their homes and are so sickly and poor that they cannot afford adequate health care coverage.
Patty Hilton lost her spouse only six months ago, on Sept. 17.
His widow perhaps put it best: the MLBPA “is a soul-crushing organization.” Unions are supposed to help hard working women and men in this country get a fair shake in life.
But the so-called MLBPA labor leader doesn’t seem to want to help anyone but himself — Clark receives a MLB pension and an annual salary of more than $2.1 million, including benefits, for being the head of the union.

Hobe Sound man indicted on federal fraud charges
Social Security Disability

Hobe Sound man indicted on federal fraud charges

People can call Treasure Coast Crime Stoppers to leave anonymous tips.
Wochit FORT PIERCE — A federal grand jury indicted a Hobe Sound man on charges including tax evasion, mail fraud and theft of government funds in connection with fraudulent disability payments, according to the U.S. Department of Justice.
The indictment against Arthur John Kranz, a doctor who specialized in psychiatry, was unsealed Thursday.
The application was approved.
Kranz was supposed to notify the Social Security Administration if he went back to work.
A Justice Department news release states Kranz worked as a psychiatrist in Pennsylvania between 2006 and 2013, earning more than $1.6 million that wasn’t reported to the Social Security Administration or the insurance company.
More: ‘Gamblers’ charged with fraud in connection with thefts from several arcades in Indian River County Kranz also is accused of trying to conceal his income from the Social Security Administration and the Internal Revenue Service.
Kranz is accused of getting more than $700,000 in fraudulent disability payments from the Social Security Administration and the insurance company.
In all, Kranz faces charges of tax evasion, mail fraud, wire fraud, theft of government funds and Social Security disability fraud.
More: Fort Pierce man one of hundreds charged in largest-ever elder fraud sweep by Justice Department

3 Things You Can Do to Prepare for Retirement Right Now
Social Security Disability

3 Things You Can Do to Prepare for Retirement Right Now

We’re with you throughout life’s journey, and that includes retirement planning!
Most financial advisers say you will need about 70 percent of pre-retirement income to live comfortably in retirement, including your Social Security benefits, investments, and other savings.
A solid retirement plan includes planning for more than Social Security.
When the time comes to take that giant step into retirement, Social Security’s online services can help guide you in this new journey.
Use these services to help prepare yourself for a financially secure retirement: Check your earnings for accuracy With a my Social Security account, you can view your earnings history, confirm you have enough work credits to retire, and see estimates of what your benefits will be.
Determine the best age for you to retire Our Retirement Estimator is a great tool that provides you with immediate and personalized estimates based on your own earnings record.
Estimate your benefits now!
Retire online After you have viewed your earnings history for accuracy, confirmed you have enough work credits to retire, and determined the best age for you to retire, you can get started on the next phase of your life right away by retiring online!
Retire online today!
This National Social Security Month, remember that Social Security is here to help you secure today and tomorrow.