OPINION
Social Security – care and beware
GLENN MOLLETTE
Washington, DC
Americans should be able to draw 100 percent
of their social security benefi ts at age 65 but they
can’t.
The year 1983 began a gradual age increase from
65 to 67 which occurred over a 22 year period. For
those who are already past 65 it’s too late to care
much. People who began collecting at age 62 don’t
care either.
If you started paying into Social Security by the
age of 25 and most Americans did or will, then 40
years is long enough to pay into a fund that should
give you the maximum payout based on what you
paid into the fund. Many American workers began
paying into a retirement account younger than 25,
and then were able to draw 100 percent of their
retirement after 27 or 28 years of work. This means
some people, like school teachers, government
workers, and others might retire as young as 50.
Fifty is signifi cantly earlier than 66 or 67 to begin
collecting your full Social Security benefi ts.
Many Americans will pay into Social Security
and never collect a penny although there may be
family benefi ts.
Americans can begin collecting Social Security at
age 62 at a reduced benefi t. The problem this creates
for many Americans is they are limited to additional
income. Why should the “62” crowd of Americans
only be able to make $17,640 a year? If they are
paying into Social Security from what they are
earning from a job then they are only supplementing
a system they are collecting from.
Many Americans are forced into double trouble.
They have reduced benefi ts at age 62 because they
want to go ahead and collect the income. Next, they
are only allowed to make up to $17,640 additional
money from working a job. They end up with a
smaller amount of Social Security for life and could
become totally unable to work a job, thus creating a
lifetime dilemma.
The average senior will collect $17,532 in Social
Security benefi ts a year or $1,461 per month with
the 2.8 percent 2019 cost of living increase. Some
Americans are collecting $2,788 per month or
$33,456 a year if they paid in the maximum taxable
earnings for 35 years. The maximum amount is
now $132,900. How many Americans will make
the maximum amount of earnings for 35 years?
Each year about 6 percent of covered workers have
earnings above the taxable maximum income.
Sadly, once America gives up something we
seldom get it back. For example, full Social Security
at age 65. Our government is starved for cash. Our
government has borrowed about $3 trillion from our
Social Security fund. Our government “borrows”
from the Social Security fund ad nauseam to cover
their wasteful spending. If the government can get
its way it will increase the Social Security age to 70
or higher. So beware.
Start talking to your representative or senator
about your Social Security benefi ts. If you are under
65 you need to care now.
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Back to school with
Social Security
BRIAN RUDOLPH AND RHONDA WHITENACK
Social Security Public Aff airs Specialists
Minnesota and Northern Wisconsin
It typically takes people a lifetime of planning to
reach their retirement goals. The earlier young work-
ers know about saving for their future, the better
chance they’ll have at achieving a comfortable retire-
ment. This is why Social Security has created a re-
source specifi cally for teachers and students.
The Information for Educators page contains a
toolkit with information and resources to educate and
engage students on Social Security programs and ser-
vices. Within the toolkit, you’ll fi nd:
• Two lesson plans with objectives
• Infographics and handouts for each lesson plan
• Links to Social Security webpages
• Talking points
• Quiz questions and answers
It’s important for students to understand why So-
cial Security was created and why it is essential to
their lives today and in the future. This knowledge
and understanding will provide students a strong base
on which to build their fi nancial future.
You can access the webpage and toolkit at www.
socialsecurity.gov/thirdparty/educators.html.
Young workers can also see how Social Security
directly relates to them at www.socialsecurity.gov/
people/students.
Encouraging young people to save now for long-
term goals that are decades away can be somewhat
diffi cult. Let them know they have a better chance of
realizing their dreams if they start planning and tak-
ing action early. And also let them know that they can
share this information with friends, both in person
and on social media.
Beware of false Social Security or Medicare advertisements
BRIAN RUDOLPH AND RHONDA WHITENACK
Social Security Public Aff airs Specialists
Minnesota and Northern Wisconsin
Scammers have become more aggressive and so-
phisticated in the digital age. With millions of people
relying on Social Security and Medicare, scammers
target audiences who are looking for legitimate pro-
gram and benefi t information. Scammers sometimes
try to scare people into giving out their personal in-
formation. Never give someone who called you any
personal information unless you absolutely know who
they are.
The law that addresses misleading Social Security
and Medicare advertising prohibits people or non-
government businesses from using words or emblems
that mislead others. Their advertising can’t claim that
they represent, are somehow affi liated with, or are en-
4
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dorsed or approved by Social Security or the Centers
for Medicare and Medicaid Services (Medicare).
People are often misled by advertisers who use the
terms “Social Security” or “Medicare.” Often, these
companies offer Social Security services for a fee,
even though Social Security offers the same services
free of charge. These services include getting:
• A corrected Social Security card showing a per-
son’s married name;
• A Social Security card to replace a lost card;
• A Social Security Statement; and
• A Social Security number for a child.
If you receive misleading information about Social
Security, send the complete ad, including the envelope
(if applicable), to:
Offi ce of the Inspector General Fraud Hotline
Social Security Administration
Connections September 2019
P.O. Box 17768
Baltimore, MD 21235
You can learn more about how we combat fraudu-
lent advertisers by reading our publication What You
Need to Know About Misleading Advertising at www.
socialsecurity.gov/pubs/EN-05-10005.pdf.
You can also view and share our anti-fraud in-
formation at www.socialsecurity.gov/antifraudfacts
as well as this YouTube video www.youtube.com/
watch?v=8N96ORODZm8.
Remember, our information is easy to email and
post on social media. Please let your loved ones know
about these types of scams. Sharing this article with
friends and family can save them from fi nancial and
emotional hardship.
Senior Connections HJ.COM