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“We reduce Social Security benefits paid to widows or widowers if they also receive a government pension based on their own work. We reduce benefits by two-thirds of the amount of the pension.
Social Security is a massive program: It’s estimated that benefits were paid to an average of almost 68 million people per month in 2024, totalling about $1.5 trillion.
A government audit revealed that the Social Security Administration had incorrectly listed 23,000 people as dead in a two-year period. These people sometimes faced difficulties in convincing government agencies that they were actually alive; a 2008 story in the Nashville area focused on a woman who was incorrectly flagged as dead in the Social Security computers in 2000 and had difficulties ...
Even though supporters of the Social Security Fairness Act argue it will only drain the Social Security fund six months earlier than otherwise expected, some critics believe there are better ...
It is known commercially as the Social Security Death Index (SSDI). The file contains information about persons who had Social Security numbers and whose deaths were reported to the Social Security Administration from 1962 to the present; or persons who died before 1962, but whose Social Security accounts were still active in 1962.
Social Security benefits are now based on an average of a worker's 35 highest paid annual salaries with zeros averaged in if there are fewer than 35 years of covered wages. The averaging period could be increased to 38 or 40 years, which could potentially reduce the deficit by 10% to 20%, respectively. [citation needed]
As soon as you enter the workforce, the ticking of your retirement clock starts ringing out like the "60 Minutes" stopwatch on a Sunday night. There's added pressure when it comes to figuring out...
The first Social Security office opened in Austin, Texas, on October 14, 1936. [10] Social Security taxes were first collected in January 1937, along with the first one-time, lump-sum payments. [8] The first person to receive monthly retirement benefits was Ida May Fuller of Brattleboro, Vermont. Her first check, dated January 31, 1940, was in ...