social security
DESCRIPTION
Social Security special section - January 2012TRANSCRIPT
Social Security andyour retirement plans
Social Security is part of the retire-ment plan of almost every Americanworker.
If you are among the 96 percent ofworkers who are covered under SocialSecurity, you should know how the sys-tem works and what you should receivefrom Social Security when you retire.
The articles in this publication will ex-plain how you qualify for Social Securi-ty benefits, how your earnings and agecan affect your benefits, what youshould think about in deciding when toretire and why you should not rely onlyon Social Security for your retirementincome.
The information in this publicationprovides basic information on Social Se-curity retirement benefits and is not in-tended to answer all questions.
For specific information about yoursituation, you should talk with a SocialSecurity representative.
PAGE 2 JANUARY 27, 2012YOUR GUIDE TO SOCIAL SECURITY
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Social Security has benefits for familySpouses, children may beeligible for benefits undercertain conditions
If you are getting Social Security retirement benefits, some members of yourfamily also can receive benefits, including:
Spouses who are age 62 or older; Spouses who are younger than 62, if they are taking care of a child entitled onyour record who younger than age 16 or disabled; Former spouses, if they are age 62 or older (see “Benefits for a divorced spouse?below); Children up to age 18, or up to 19 if they are full-time students who have notyet graduated from high school; and Children up to age 18, or up to 19 if they are full-time students who have notyet graduated from high school; and If you become the parent of a child (including an adopted child) after you beginreceiving benefits, let Social Security know about the child so representativescan decide if the child is eligible for benefits. NOTE: Children’s benefits are available only to unmarried children. However,
in certain situations, benefits are payable to a disabled child who marries some-one who is also eligible as a disabled child.
Spouse’s benefitsA spouse who has not worked or who has low earnings can be entitled to as
much as one-half of the retired worker’s full benefit. If you are eligible for both your own retirement benefits and for benefits as a
spouse, Social Security always pay your own benefits first.If your benefits as a spouse are higher than your retirement benefits, you will
get a combination of benefits equaling the higher spouse benefit.If you have reached your full retirement age, and are eligible for a spouse’s or
ex-spouse’s benefit and your own retirement benefit, you may choose to receiveonly spouse’s benefits and continue accruing delayed retirement credits on your
SPOUSE BENEFITS...Page 3
JANUARY 27, 2012 YOUR GUIDE TO SOCIAL SECURITY PAGE 3
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SPOUSE BENEFITS, from Page 2
own Social Security record. You may then file for bene-fits at a later date and receive a higher monthly benefitbased on the effect of delayed retirement credits.
If you are receiving a pension based on work whereyou did not pay Social Security taxes, your spouse’sbenefit may be reduced. Additional information onpensions from work not covered by Social Securitycan be found in the publication, “Pensions from worknot covered by Social Security.”
If spouses want to get Social Security retirementbenefits before they reach full retirement age, theamount of the benefit is reduced. The amount of re-duction depends on when the person reaches full re-tirement age.
For example: If full retirement age is 65, a spouse can get 37.5percent of the worker’s unreduced benefit at age62; If full retirement age is 66, a spouse can get 35 per-cent of the worker’s unreduced benefit at age 62;
If full retirement age is 67, a spouse can get 32.5percent of the worker’s unreduced benefit at age62. The amount of the benefit increases at later ages up
to the maximum of 50 percent at full retirement age.If full retirement age is other than those shown herethe amount of the benefit will fall between 32.5 per-cent and 37.5 percent at age 62.
However, if your spouse is taking care of a childwho is under age 16 or disabled and gets Social Se-curity benefits on your record, your spouse gets fullbenefits, regardless of age.
Here is an example:Mary Ann qualifies for a retirement benefit of $250
and a spouse’s benefit of $400. At her full retirementage, she will receive her own $250 retirement bene-fit, and Social Security will add $150 from herspouse’s benefit, for a total of $400. If she takes herretirement benefit before her full retirement age, bothamounts will be reduced.
NOTE: Your current spouse cannot receive spouse’sbenefits until you file for retirement benefits.
Maximum family benefitsIf you have children eligible for Social Security,
each will receive up to one-half of your full benefit.But there is a limit to the amount of money that canbe paid to you and your family - usually 150 to 180percent of your own benefit payment.
If the total benefits due to your spouse and childrenare more than this limit, their benefits will be re-duced. Your benefit will not be affected.
Benefits for a divorced spouseYour divorced spouse can get benefits on your So-
cial Security record if the marriage lasted at least 10years. Your divorced spouse must be 62 or older andunmarried.
The amount of benefits he or she gets has no effecton the amount of benefits you or your current spousecan get.
Also, if you and your ex-spouse have been divorcedfor at least two years and you and your ex-spouse areat least 62, he or she can get benefits even if you arenot retired.
About one-third of people who get Social Security haveto pay income taxes on their benefits.
If you file a federal tax return as an “individual,” andyour combined income* is between $25,000 and $34,000,you may have to pay taxes on 50 percent of your SocialSecurity benefits. If your combined income* is more than$34,000, up to 85 percent of your Social Security bene-fits is subject to income tax.
If you file a joint return, you may have to pay taxes on50 percent of your benefits if you and your spouse havea combined income* that is between $32,000 and
$44,000. If your combined income* is more than $44,000,up to 85 percent of your Social Security benefits is sub-ject to income tax.
If you are married and file a separate return, you prob-ably will pay taxes on your benefits.
At the end of each year, Social Security will mail you aSocial Security Benefit Statement (Form SSA-1099)showing the amount of benefits you received. You canuse this statement when you complete your federal in-come tax return to find out if you have to pay taxes on yourbenefits.
Although you are not required to have federal taxeswithheld, you may find it easier than paying quarterly es-timated tax payments.
For more information, call the Internal Revenue Ser-vice’s toll-free telephone number, 1-800-829-3676, to askfor Publication 554, Tax Guide for Seniors, and Publica-tion 915, Social Security And Equivalent Railroad Retire-ment Benefits.
*On the 1040 tax return, your “combined income” is thesum of your adjusted gross income plus nontaxable in-terest plus one-half of your Social Security benefits.
Your benefits may be taxable
PAGE 4 JANUARY 27, 2012YOUR GUIDE TO SOCIAL SECURITY
Dan C. Pfannebecker1425 Broadway • Denison, Iowa 51442Phone 712.263.4151 Fax 712.263.8662
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You may be faced with many decisionsfollowing the death of a loved one. We take the time to listen to your family’s needs and help you during this difficult time.
We believe that each service should be asunique and special as the person who has died, and we work with each family to tailorevery aspect of the service to their specificneeds and wishes.
We take care of every detail, from cemeteryarrangements and coordination with clergy,musicians, florists, pallbearers, service groupsand caterers, to writing and posting obituariesand notifying government agencies, and even filing life insurance claims, if requested.
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Information onpayment methods,what to do if yourpayment is late
Social Security benefits are paid each month in themonth following the month for which they are due.
For example, individuals would receive their Julybenefit in August.
Generally, the day of the month an individual re-ceives his or her benefit payment depends on the birthdate of the person on whose earnings record benefitsare received.
For example, if you get benefits as a retired work-er, your benefit will be determined by your birth date.
If you receive benefits based on your spouse’s work,your benefit payment date will be determined by yourspouse’s birth date.
Date of birth Benefits paid each month on1st-10th Second Wednesday11th-20th Third Wednesday21st-31st Fourth Wednesday
If you receive both Social Security and SSI benefits,your Social Security payment will arrive on the thirdof the month and your SSI payment will arrive on thefirst of the month.
If you applied for Social Security benefits on or afterMay 1, 2011, you must receive your payments elec-tronically. If you did not sign up for electronic pay-ments when you applied for benefits, Social Securitystrongly urges you to do it now.
You must switch to electronic payments by March 1,
2013. If you don’t, the U.S. Treasury Department maysend your benefits via the Direct Express® card pro-gram to avoid an interruption in payment.
Direct deposit is a simple, safe and secure way to re-ceive benefits. Contact your bank to help you sign upor you can sign up for direct deposit by contacting So-cial Security.
Another option is the Direct Express® card program.With Direct Express®, deposits from federal paymentsare made directly to the card account. It’s quick andeasy to sign up for the card. Call the toll-free TreasuryElectronic Payment Solution Contact Center at 1-800-333-1795 or sign up online at www.GoDirect.org .Also, Social Security can help you sign up.
A third option is an Electronic Transfer Account.This low-cost federally insured account lets you enjoythe safety, security and convenience of automatic pay-ments.
You can contact Social Security or visit the websiteat www.eta-find.gov to get information about this pro-gram, or to find a bank, savings and loan or creditunion near you offering this account.
If you get your benefits by mailTo be safe, you should cash or deposit your check
soon after you receive it. You should not sign yourcheck until you are at the place where you will cashit. If you sign the check ahead of time and lose it, theperson who finds it could cash it.
A government check must be cashed within 12months after the date of the check or it will be void.After a year, if you are still entitled to the payment,Social Security will replace the voided check.
If your payment is late or missingIf you do not receive your electronic payment on its
due date, call Social Security immediately at the toll-free number, 1-800-772-1213.
If your check is not delivered on its due date, waitthree workdays before reporting the missing check to
Social Security. The most common reason checks arelate is because a change of address was not reported.
If your check is ever lost or stolen, contact Social Se-curity immediately. Your check can be replaced, but ittakes time.
Returning benefits not dueIf you receive an electronic payment that you know
is not due you, have your financial institution returnit to the U.S. Treasury Department.
If you receive a check that you know is not due you,take it to any Social Security office or return it to theU.S. Treasury Department at the address on the checkenvelope. You should write VOID on the front of thecheck and enclose a note telling why you are sendingthe check back. If you knowingly accept payments thatare not due you, you may face criminal charges.
Paying taxes on your benefitsAbout one-third of all people receiving Social Secu-
rity benefits have to pay taxes on their benefits. Youwill have to pay taxes on your benefits if you file afederal tax return as an “individual,” and your totalincome is more than $25,000.
If you file a joint return, you will have to pay taxesif you and your spouse have a total income that ismore than $32,000.
If you are married and file a separate return, youprobably will pay taxes on your benefits.
To have federal taxes withheld, get a Form W-4Vfrom the Internal Revenue Service by calling the toll-free telephone number, 1-800-829-3676, or by visit-ing the Social Security website.
After completing and signing the form, return it tothe local Social Security office by mail or in person.
For more information, call the Internal Revenue Ser-vice’s toll-free number, 1-800-829-3676, to ask forPublication 554, Tax Guide for Seniors, and Publica-tion 915,Social Security and Equivalent Railroad Re-tirement Benefits.
When and how Social Security benefits are paid
JANUARY 27, 2012 YOUR GUIDE TO SOCIAL SECURITY PAGE 5
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Medicare introduces5-star special enrollmentA column from SHIIP
Medicare uses information from member satisfac-tion surveys, plans and health care providers to giveoverall performance star ratings to Part D drug plans,Medicare Advantage and cost plans.
Beginning on December 8, 2011, plans with a 5-star rating were able to qualify for a special enroll-ment period.
Kris Gross from the State of Iowa’s Senior HealthInsurance Information Program (SHIIP) explained,“Most Iowans have to choose the Medicare drug planor Medicare Advantage plan they want during theopen enrollment period October 15 through December7 and must stay with the plan they choose for thenext calendar year.
If they qualify for a special enrollment period theywill be able to change plans at other times during theyear.”
The new 5-star special enrollment period will allowIowans on Medicare to change one time during thespecial enrollment period to a 5-star drug plan,
Medicare Advantage plan or cost plan offered in theirarea.
They must meet plan requirements to qualify. Thespecial enrollment period began on December 8,2011, and runs through November 30, 2012.
Iowa has nine plans rated 5-stars, including twodrug plans, four Medicare Advantage plans and threecost plans.
Individuals might use the 5-star special enrollmentperiod to enroll in a 5-star drug plan if they missedenrolling in a drug plan earlier, however any late en-rollment penalty will still apply.
If you start taking new prescriptions and your cur-rent drug plan does not cover the new prescriptions,you might find that a 5-star plan covers the newdrugs.
It’s important to do a plan comparison using theMedicare website before making any change.
This special enrollment period can also be used tochange from a current Medicare Advantage plan to a5-star Medicare Advantage plan.
If you’re in original Medicare you can also enroll ina 5-star Medicare Advantage plan using this new en-
rollment period. Gross cautioned, “It is very important to discuss
with Medicare or SHIIP all the consequences of a po-tential change under the 5-star special enrollment pe-riod. Each change has special considerations.”
SHIIP has available a “5-Star Plan Ratings” fact-sheet which individuals can request by calling 1-800-351-4664 (TTY 1-800-735-2942) or view on theSHIIP website, www.therightcalliowa.gov (see the“Medicare” section).
For more information about Medicare enrollmentperiods, call SHIIP or e-mail [email protected] counselors are also available across the state tomeet with individuals and answer questions.
Crawford County Memorial Hospital in Denison isthe sponsor of the SHIIP program in this area.
To arrange an appointment with a local volunteercall 712-265-2509.
Individuals can also call SHIIP or use the SHIIPwebsite using the contact information earlier in thisarticle to find a counselor.
SHIIP is a free, confidential service of the state ofIowa.
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PAGE 6 JANUARY 27, 2012YOUR GUIDE TO SOCIAL SECURITY 5G4G
RETIREONLINEWatch a video
featuringPatty Duke
ONLINERESOURCES
Many forms and publications are easily accessible online.
Social Security onlineSocial Security onlinewwwwww.SocialSecurity.SocialSecurity.gov.gov
Replace a lost
Social Security cardComplete an Application for a Social Security Card
(Form SS-5)
For U.S. born citizens, show us proof of your identity.
Take or mail your completed application and documents to your local Social Security office.We will return any document you mail to us.
All documents must be either originals or copies certified by the issuing agency. We cannot accept photocopies or notarized copies of documents.
Some documents we can accept as proof of identityinclude non-expired:
• U.S. driver’s license • State-issued non-driver identification card • U.S. passport
If you are not a U.S. born citizen addition information isneeded, see www.socialsecurity.gov/ss5doc/.
Extra Help Application• Anyone who has Medicare may apply for Extra
Help with Medicare prescription drug plan costs.
• It is now easier to qualify for Extra Help under anew law because some things no longer count asresources and income.
• The Extra Help is estimated to be worth an aver-age of $3,900.00 per year.
• Not sure if you qualify? If in doubt fill it out.
• You can apply online at www.socialsecurity.gov
• Call Social Security at 1-800-772-1213 (TTY 1-800-325-0778) to apply over the phone.
The Social SecurityStatement
Your Social Security Statement is a concise, easy-to-read personal record of the earnings on which you havepaid Social Security taxes during your working yearsand a summary of the estimated benefits you and yourfamily may receive as a result of those earnings.
• Benefit estimates in your Statement play an impor-tant role in financial planning. When combined withyour savings, investments and other pensions, yourSocial Security benefits can help you build a securefuture for you and your family.
• The Statement can help ensure your reported earn-ings and other important information is correct on yourrecord.
• The Statement shows you all the protection youare earning under Social Security and provides yourfull retirement age.
• Each year, the Statement is mailed to you aboutthree months before your birthday, from age 25 untilyour Social Security benefits begin.
How to sign up for Social SecurityIndividuals can apply for retirement benefits online
at https://secure.ssa.gov/iCLM/rib or can call Social Se-curity’s toll-free number, 1-800-772-1213.
Individuals can also make an appointment to visit anySocial Security office to apply in person.
Area Social Security offices are:818 North Bella Vista Drive
Carroll, IA 51401Local number: 1-866-572-8381
TTY 1-800-325-0778
3555 Southern Hills DriveSioux City, IA 51106
Local number: 1-866-338-2859TTY 1-712-274-8986
Mid-America Center20 Arena Way Suite 1
Council Bluffs, IA 51501Local number: 1-866-331-9094
TTY 1-800-325-0778
Before going to a Social Security office, individualsare encouraged to call first.
Along with the local numbers, Social Security’s na-tional toll-free number is 1-800-772-1213.
This article provides basic information on Social Se-curity retirement benefits and is not intended to answerall questions. For specific information about your situ-ation, talk with a Social Security representative.
Depending on your circumstances, you will need someor all of the documents listed below. But do not delay ap-plying for benefits because you do not have all the in-formation. If you do not have a document you need, wecan help you get it.Information needed:
Your Social Security number; Your birth certificate; Your W-2 forms or self-employment tax return for lastyear; Your military discharge papers if you had militaryservice; Your spouse’s birth certificate and Social Securitynumber if he or she is applying for benefits;
Children’s birth certificates and Social Security num-bers, if you are applying for children’s benefits; Proof of U.S. citizenship or lawful alien status if you(or a spouse or child applying for benefits) were notborn in the United States; and The name of your financial institution, the routingnumber and your account number, so your benefitscan be deposited directly into your account. If you donot have an account at a financial institution or pre-fer receiving your benefits on a prepaid debit card youcan receive a Direct Express® card. For more infor-mation, visit www.GoDirect.org. You will need to sub-mit original documents or copies certified by the is-suing office. You can mail or bring them to Social Se-curity. Social Security will make photocopies and re-turn your documents.
Right to appealIf you disagree with a decision made on your claim,
you can appeal it. For an explanation of the steps you cantake, call Social Security at 1-800-772-1213 and ask forThe Appeals Process (Publication No. 05-10041).
JANUARY 27, 2012 YOUR GUIDE TO SOCIAL SECURITY PAGE 75G4G
FILEONLINEWhat you will need:
• Date, place of birth, SocialSecurity number
• Direct deposit information
• Wages/self employmentearnings – last year, thisyear, next year
• Employer(s) name, address,– last year, this year
• Military service datesbefore 1968
• Spouse or former spouse –name, date of birth, SocialSecurity number, date,place of marriage, if ended,date of death or divorce
• Copy of your Social SecurityStatement is helpful
The content of our home pagechanges as additional servicesbecome available to keep youinformed on the latest news.
Watch for updated information.
Direct DepositWith direct deposit, you can depend on your pay-
ment arriving in your account on time, every time. If
you do not already have direct deposit, there are good
reasons to sign up. For one, less money and time spent
driving to the bank to cash your check helps you save.
Second, fewer paper checks, envelopes, and stamps,
and less fuel to deliver the checks mean less waste
and pollution for the environment. With direct deposit,
you know your payment will be in your account on time
no matter what.
When on vacation, direct deposit ensures payments
will be deposited into your account on time, so there
is no reason to worry about the safety of your benefit
or to ask a neighbor to look out for your check when
you are away.
To learn more about Direct Deposit of your benefit
payments and to sign up, visit our website at
www.socialsecurity.gov/deposit.
Estimate your retirement benefits
How can I calculate my own retirement benefit esti-
mates?
We suggest you use our Retirement Estimator at
www.socialsecurity.gov/estimator. Our Retirement
Estimator produces estimates based on your actual
Social Security earnings record, so it is very accurate.
Also, you can use it to test different retirement sce-
narios based on what age you decide to start benefits
or get an estimate with changes to your future bene-
fits.
You also can go to our Benefits Calculators at
www.socialsecurity.gov/planners/benefitcalculators.ht
m and use the earnings shown on your Social Security
Statement to calculate estimates. The calculators will
show your retirement benefits as well as disability and
survivor benefit amounts. These benefit calculators
are not linked to your Social Security record, so you do
not need to establish a password to use them.
Receive Updates by email
Social Security periodically changes the contentand look of the website to better serve you and keepyou informed on developments regarding:
• Emergency information• Disability Research• Press Releases• Social Security News and more
You can sign up to receive free emails that let youknow when your favorite socialsecurity.gov web pageshave been updated. You can tell us how often youwish to be notified (immediately, daily, weekly, ormonthly).
Email updates are a free service from socialsecu-rity.gov. Your email address will only be used to regis-ter you for email notifications and allow you to accessyour account.
Continued from Page 6
You have the right to be represented by an attor-ney or other qualified person of your choice. Formore information, ask for Your Right To Represen-tation (Publication No. 05-10075).
If you work and get benefits at the same timeYou can continue to work and still receive retire-
ment benefits. Your earnings in (or after) the month you reach
your full retirement age will not reduce your SocialSecurity benefits.
However, your benefits will be reduced if yourearnings exceed certain limits for the months beforeyou reach your full retirement age. (See Age to re-ceive full Social Security benefits, to find your full re-tirement age.)
Here is how it works:If you are younger than full retirement age, $1 inbenefits will be deducted for each $2 in earningsyou have above the annual limit.In the year you reach your full retirement age, yourbenefits will be reduced $1 for every $3 you earnover an annual limit until the month you reach full
retirement age. Once you reach full retirement age,you can keep working, and your Social Securitybenefit will not be reduced no matter how muchyou earn.If, during the year, your earnings are higher or lowerthan you estimated, let Social Security know as soonas possible so your benefits can be adjusted.If you want more information on how earnings af-
fect your retirement benefit, ask for How Work Af-fects Your Benefits (Publication No. 05-10069),which has current annual and monthly earnings lim-its.
A special monthly ruleA special rule applies to your earnings for one
year, usually your first year of retirement. Under this rule, you can receive a full Social Secu-
rity check for any month you earn under a certainlimit, regardless of your yearly earnings.
If you are self-employed, the work you do in yourbusiness is taken into consideration as well.
If you want more information on how earnings af-fect your retirement benefit, ask for How Work Af-fects Your Benefits (Publication No. 05-10069),which has current annual and monthly earnings lim-its.
About pensionsfrom worknot coveredby Social Security
If you get a pension from work where you paid SocialSecurity taxes, that pension will not affect your SocialSecurity benefits.
However, if you get a pension from work that was notcovered by Social Security, for example, the federal civilservice, some state or local government employment orwork in a foreign country - your Social Security benefitmay be reduced.
For more information, ask for Government PensionOffset (Publication No. 05-10007), for government work-ers who may be eligible for Social Security benefits onthe earnings record of a spouse; and Windfall Elimina-tion Provision (Publication No. 05-10045), for peoplewho worked in another country or government workerswho also are eligible for their own Social Security ben-efits.
PAGE 8 JANUARY 27, 2012YOUR GUIDE TO SOCIAL SECURITY
COMFORT & CARE FOR SENIORS
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• Lead Screening
• Child Care Nurse Consultant
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• Free Blood Pressure Clinics
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Public Health Programs Include:Alw
aysThere To Care
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A whole new look, and a whole new attitude
www.DBRnews.com
Duke volunteers timeto promote SocialSecurity’s onlineservices
After years of telling people they can apply onlinefor Social Security in their pajamas, Patty Duke tookher own advice.
Duke applied online for retirement and Medicarebenefits from home at www.socialsecurity.gov whenshe turned 65 on December 14.
“I had no idea this would be such a momentous oc-casion,” said Duke, who for three years has volun-teered her time promoting Social Security’s online
services in numerous public service announcementsand media interviews.
In an online video, Duke put character acting asideand showed everyone what happened when she andher husband Mike Pearce sat down at the kitchentable, turned on their laptop, and applied for her re-tirement and Medicare benefits.
“All of us at Social Security wish Patty a very happybirthday,” Michael J. Astrue, commissioner of SocialSecurity, stated when the actress turned 65. “She’s aHollywood legend and an American treasure whoreaches a very important milestone today. True toform, she is the one giving us the birthday present byshowing her fellow baby boomers the easiest way toapply for benefits.”
In 2009, Duke reprised her roles as the identicalcousins, Patty and Cathy Lane from the “Patty DukeShow”, for a series of public service announcements
promoting Social Security’s online services.In 2010, Duke teamed up with the surviving “Patty
Duke Show” cast members for an additional set ofspots.
Earlier this year, she teamed up with entertainmenticon George Takei to encourage people of all ages to“Boldly Go” to www.socialsecurity.gov.
In the three years since Duke has volunteered hertime with Social Security, millions of people have vis-ited the agency’s website and the percentage of onlineretirements has more than doubled.
“While I just applied for retirement benefits, I’m notretiring from being a Social Security spokesperson,”Duke stated on December 14. “I urge my fellow babyboomers to go online to www.socialsecurity.gov. Ifyou’re not sure how to get started on the computer,ask a loved one to help you out. I did, and it was soeasy.”
Actress Patty Duke applies online forSocial Security and Medicare benefits
JANUARY 27, 2012 YOUR GUIDE TO SOCIAL SECURITY PAGE 9
Social Securityand leaving theUnited States
Individuals who are U.S. citizens can travel to or live in most foreign countries with-out affecting their Social Security benefits.
There are, however, a few countries where Social Security cannot send payments.These countries are Cambodia, Cuba, North Korea, Vietnam and areas that were inthe former Soviet Union (other than Armenia, Estonia, Latvia, Lithuania and Russia).
However, exceptions can be made for certain eligible beneficiaries in countriesother than Cuba and North Korea.
For more information about these exceptions, contact your local Social Security of-fice.
If you work outside the United States, different rules apply in determining if you canget benefits.
For more information, call Social Security to ask for a copy of the publication, YourPayments While You Are Outside The United States (Publication No. 05-10137).
Westside712-663-4200
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John Walsh Dennis Koenig
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Call <me/us> about your Medicaresupplement options from The Blues®.
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Turning 65?
85-SOCIALSEC (PREPARING FOR-HUEBNER/CONSIDER) HM
Quote: "Our death is not an end if we can live on in our children andthe younger generation. For they are us, our bodies are only wilted leaveson the tree of life."
Albert Einstein
PREPARING FOR THE INEVITABLEIf you have planned a wedding, saved for your children’scollege education, and drawn up a will or begun theestate-planning process, doesn’t it also make goodsense to give serious thought to funeral planning?Without a plan in place, those responsible for planningyour funeral will have to make major decisions andpurchases within 24 to 48 hours of your death. On theother hand, preplanning allows you to decide for yourselfwhat method of disposition you prefer and what kind ofservices you wish to have. Funeral preplanning alsoallows you to make these decisions with a clear head,and it allows your surviving family and friends to focus ongrieving and recovery.
Make this spacework for you.
Call 712-263-2122 to place an ad. Read us online: www.DBRnews.com
How to contactSocial Security
Social Security’s website, www.ssa.gov, is a valuable resource for informationabout all of Social Security’s programs.
In addition to using the website, individuals can call Social Security toll-free at 1-800-772-1213. Social Security treats all calls confidentially and can answer specif-ic questions from 7 a.m. to 7 p.m., Monday through Friday.
Social Security can provide information by automated phone service 24 hours a day.(Use the automated response system to tell Social Security a new address or requesta replacement Medicare card.)
Individuals who are deaf or hard of hearing may call the TTY number, 1-800-325-0778.
Social Security also wants to make sure individuals receive accurate and courte-ous service. That is why a second Social Security representative monitors some tele-phone calls.
Information aboutthe Proof of Incomeletter
Individuals who need proof that they are receiving income and/or services from So-cial Security can request a ”Proof of Income“ letter the Social Security’s Proof of In-come letter web page at https://secure.ssa.gov/apps6z/BEVE/main.html.
The Proof of Income letter is sometimes called a ”budget letter,“ a ”benefits letter,“or a ”proof of award letter.“
What is a Proof of Income letter?The letter can be used as proof of your: income when you apply for a loan or mortgage; income for assisted housing or other state or local benefits; current Medicare health insurance coverage; retirement status; disability; and/orage. Individuals can select the information they would like on it.
What you should knowA Proof of Income letter will arrive in the mail in about 10 days. It will be mailed
to the address on file for you at Social Security.Individuals who need proof sooner should contact their local Social Security office.Individuals can request a letter only for themselves. Family members must request
their own letters.For security reasons, the website has a 30 minute time limit to complete each page.
Those requesting a Proof of Income letter online will be given notice when time isabout to run out; individuals can then get more time to finish.
If you have moved and have not reported this to Social Security, you will need toreport this change before Social Security can process your request.
If you have moved and have reported this to Social Security recently, you will needto contact Social Security before your request can be processed.
PAGE 10 JANUARY 27, 2012YOUR GUIDE TO SOCIAL SECURITY
You can getretirement benefit
estimatesYou can use the online Retirement Estimator to get
immediate and personalized retirement benefit esti-mates to help you plan for your retirement.
The online Retirement Estimator is a convenient,secure and quick financial planning tool, because iteliminates the need to manually key in years of earn-ings information.
The estimator also will let you create “what if” sce-narios. You can, for example, change your “stop work”dates or expected future earnings to create and com-pare different retirement options.
For more information, call toll-free at 1-800-772-1213 and ask for Online Retirement Estimator (Pub-lication No. 05-10510) or How To Use The Online Re-tirement Estimator (Publication No. 05-10511) or visitSocial Security’s Retirement Estimator atwww.ssa.gov/estimator/.
Full retirement agelisted by
year of birthIf you were born in 1944 or earlier, you are already
eligible for your full Social Security benefit. If you were born from 1943 to 1960, the age at
which full retirement benefits are payable increasesgradually to age 67.
The following chart lists the full retirement age byyear of birth.
Age to receive full Social Security benefitsYear of birth Full retirement age1943-1954 661955 66 and 2 months1956 66 and 4 months1957 66 and 6 months1958 66 and 8 months1959 66 and 10 months1960 and later 67
Note: People who were born on January 1 of anyyear should refer to the previous year.
Early retirement
You can get Social Security retirement benefits asearly as age 62. However, you will receive a reducedbenefit if you retire before your full retirement age.
For example, if you retire at age 62, your benefitwould be about 25 percent lower than what it wouldbe if you waited until you reach full retirement age.
Some people stop working before age 62. But ifthey do, the years with no earnings will probablymean a lower Social Security benefit when they retire.
Note: Sometimes health problems force people to re-tire early. If you cannot work because of health prob-lems, you should consider applying for Social Securitydisability benefits. The amount of the disability benefitis the same as a full, unreduced retirement benefit.
If you are receiving Social Security disability bene-fits when you reach full retirement age, those bene-fits will be converted to retirement benefits. For moreinformation, call toll-free at 1-800-772-1213 and askfor Disability Benefits (Publication No. 05-10029).
Deciding when to retire
Choosing when to retire is an important but per-sonal decision.
Regardless of the age you choose to retire, it is agood idea to contact Social Security in advance tolearn the available options and make an informed de-cision.
In some cases, your choice of a retirement monthcould mean higher benefit payments for you and yourfamily.
In deciding when to retire, it is important to re-member that financial experts say you will need 70-80 percent of your pre-retirement income to have acomfortable retirement.
Since Social Security replaces only about 40 per-cent of pre-retirement income for the average work-er, it is important to have pensions, savings and in-vestments.
You should apply for benefits about three monthsbefore the date you want your benefits to start.
If you are not quite ready to retire, but are thinkingabout doing so in the near future, you may want to useSocial Security’s convenient and informative Retire-ment Planner.
How do you qualifyfor retirement benefits?
When you work and pay Social Security taxes, youearn “credits” toward Social Security benefits.
The number of credits you need to get retirementbenefits depends on when you were born. If you wereborn in 1929 or later, you need 40 credits (10 yearsof work).
If you stop working before you have enough cred-its to qualify for benefits, the credits will remain onyour Social Security record. If you return to work lateron, you can add more credits so that you qualify. Wecannot pay any retirement benefits until you have therequired number of credits.
How muchwill your retirement
benefit be?Your benefit payment is based on how much you
earned during your working career. Higher lifetimeearnings result in higher benefits. If there were someyears when you did not work or had low earnings,your benefit amount may be lower than if you hadworked steadily.
Your benefit payment also is affected by the age atwhich you decide to retire. If you retire at age 62 (theearliest possible retirement age for Social Security),your benefit will be lower than if you wait until later toretire. This is explained more in an article on thispage.
Retirement benefitsfor widows
and widowersWidows and widowers can begin receiving Social
Security benefits at age 60, or at age 50 if they are dis-abled. And they can take a reduced benefit on onerecord and later switch to a full benefit on the otherrecord.
For example, a woman could take a reducedwidow’s benefit at 60 or 62 and then switch to her full(100 percent) retirement benefit when she reachesfull retirement age.
The rules vary depending on the situation, so indi-viduals should talk to a Social Security representativeabout the available options.
Delayed retirementYou may choose to keep working even beyond your
full retirement age. If you do, you can increase yourfuture Social Security benefits in two ways.
Each additional year you work adds another year ofearnings to your Social Security record. Higher life-time earnings may mean higher benefits when youretire.
Also, your benefit will increase automatically by acertain percentage from the time you reach your fullretirement age until you start receiving your benefitsor until you reach age 70. The percentage varies de-pending on your year of birth. For example, if youwere born in 1943 or later, Social Security will addeight percent per year to your benefit for each yearthat you delay signing up for Social Security beyondyour full retirement age.
NOTE: If you decide to delay your retirement, besure to sign up for Medicare at age 65. In some cir-cumstances, medical insurance costs more if youdelay applying for it.
Other information about Medicare is in the article,“A word about Medicare,” located elsewhere in thispublication.
JANUARY 27, 2012 YOUR GUIDE TO SOCIAL SECURITY PAGE 11
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What you needto know aboutMedicare
Medicare is a health insurance plan for people whoare age 65 or older.
People who are disabled or have permanent kid-ney failure can get Medicare at any age.
Medicare has four parts:Hospital insurance (Part A) helps pay for inpa-tient hospital care and certain follow-up services.Medical insurance (Part B) helps pay for doctors’services, outpatient hospital care and other med-ical services.Medicare Advantage plans (Part C) are availablein many areas. People with Medicare Parts A andB can choose to receive all of their health careservices through a provider organization underPart C.Prescription drug coverage (Part D) helps pay formedications doctors prescribe for medical treat-ment. If you are already getting Social Security benefits
when you turn 65, your Medicare hospital insur-ance (Part A) starts automatically.
If you live in the United States you will usually beenrolled in medical insurance (Part B) automatical-ly.
Residents of Puerto Rico or foreign countries willnot receive Part B automatically. They must electthis benefit.
If you are not already getting Social Security, youshould contact us about three months before your65th birthday to sign up for Medicare. You can signup for Medicare even if you do not plan to retire atage 65.
For more information, ask for Medicare (Publica-tion No. 05-10043).
Help with Medicare expenses for people with lowincome
If you have a low income and few resources, yourstate may pay your Medicare premiums and, in somecases, other “out-of-pocket” medical expenses, suchas deductibles and coinsurance.
Only your state can decide whether you qualifyfor help from the Medicare Savings programs. Tofind out, contact your state or local medical assis-tance (Medicaid) agency, social services or welfareoffice.
“Extra help” with Medicare prescription costsIf you have limited income (tied to the federal
poverty level) and limited resources, you may qual-ify for extra help to pay for your prescription drugsunder Medicare Part D.
Social Security’s role in this program is to:help you understand how you may qualify; help you complete the extra help application; andprocess your application. To see if you qualify or to apply, call Social Secu-
rity’s toll-free number, 1-800-772-1213 or see thelink Apply for Medicare Benefits, which can befound online at www.ssa.gov/pgm/medicare.htm.
Medicare, a four-part health insurance plan
For more informationabout Medicare…
Website: www.medicare.govToll-free number: 1-800-MEDICARE (1-800-633-
4227)TTY number: 1-877-486-2048Or refer to the number and website at the bottom of
the article on this page.
For more information about Medicare, see theSenior Health Insurance Information Program(SHIIP) columns published each month in the
Denison Bulletin and Review, or log onto the Bulletin and Review’s website
at www.DBRnews.com.
PAGE 12 JANUARY 27, 2012YOUR GUIDE TO SOCIAL SECURITY
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From left: Sharon Claypool, Tech; Beth Fredericks, Tech; Kitty Caporale, Tech; Mahanaim Peterson, Tech; Heather Zeimen, Pharm D; and BrittanyOkker, Clerk.
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