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The United States Social Security Administration (SSA) [2] is an independent agency of the U.S. federal government that administers Social Security, a social insurance program consisting of retirement, disability and survivor benefits. To qualify for most of these benefits, most workers pay Social Security taxes on their earnings; the claimant ...
Social Security (United States) In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration (SSA). [ 1 ] The Social Security Act was passed in 1935, [ 2 ] and the existing version of the Act, as amended, [ 3 ...
The Social Security Administration has updated information on benefits and age requirements. What Age is Full Retirement Age? If you were born in 1960 or thereafter, your full retirement age is 67.
So when exactly is the full retirement age for Social Security? That depends on when you were born. Year of birth. Full retirement age. 1937 and before. 65. 1938-1942. 65 + 2 months for each year ...
You can get Social Security retirement benefits as early as age 62, but your benefits will be reduced vs. what they would be if you waited until full retirement age.
In 2020, the Social Security Wage Base was $137,700 and in 2021 was $142,800; the Social Security tax rate was 6.20% paid by the employee and 6.20% paid by the employer. [1][2] A person with $10,000 of gross income had $620.00 withheld as Social Security tax from his check and the employer sent an additional $620.00.
In the United States, a Social Security number (SSN) is a nine-digit number issued to U.S. citizens, permanent residents, and temporary (working) residents under section 205 (c) (2) of the Social Security Act, codified as 42 U.S.C. § 405 (c) (2). The number is issued to an individual by the Social Security Administration, an independent agency ...
If you claimed Social Security as early as possible — at age 62 — the maximum amount you could have received was $2,572. At full retirement age of 67, that maximum was $3,627.