Mary Jean Kuda asked:


Social Security has been one of the country’s most successful programs. It aids people from financial uncertainty especially in their trying times.

The program provides several protections such as:

•    progressive benefit formula

•    comprehensive insurance benefits that include disability

•    survivors and retirement benefits

•    spouses’ benefits

•    a cost of living adjustment

•    coverage until death

These protections will be placed at risk if fraud related claims continue to spoil Social Security.

Identity theft using the Social Security numbers (SSNs) is one of the common Social Security frauds that have been weakening the program.

History on the Use of Social Security Numbers

SSNs were first issued in 1936. The federal government assured the public that the use of the numbers would be restricted to Social Security programs such as calculating retirement benefits.

Today, however, SSN has become the de facto general identifier.

Government agencies and private businesses use SSNs even for a wide range of non-Social Security purposes. These purposes include:

•    employee files

•    medical records

•    health insurance accounts

•    credit and banking accounts,

•    university ID cards

•    utility accounts

The use of SSNs as both an identifier and an authenticator makes these numbers highly desirable to fraudulent acts, such as identity theft.

Social Security Fraud by Using SSN

Identity fraud is not all about money. The persistent use of SSNs as an identification mechanism gives the thieves many options.

Identity thieves seek SSNs so they can use these numbers to assume the identity of another person and commit fraud.

A thief can fraudulently use your SSN to assume your identity and gain access not only to your Social Security information but also to your bank accounts, credit accounts, utilities records, and other sources of personal information.

They can also establish new credit and bank accounts in your name, use your SSN for employment purposes or obtain medical care.

How to Prevent Identity Theft

Official efforts are under way to restrict use of SSNs. For instance, the Social Security Administration shortens SSNs on the benefit statements it mails each year.

While essential information can be acquired in credit card, bank accounts and other documents, SSNs are the most common way of getting personal information.

In California, for instance, a birth certificate (or many other types of documents) and a valid SSN are required to get driver’s license or identification card.

The following steps are essential in reducing identity theft using SSNs:

•    Protect your SSN. Provide it only when necessary such as in tax forms, employment records, most banking, stock and property transactions. The SSN is the key to your credit and banking accounts and is the prime target of thieves.

•    If business or establishment requests your SSN, ask if you can use another number instead.

•    Do not have your SSN printed on your checks. Do not let merchants write the SSN onto your checks because of the risk of fraud.

•    Do not utter your SSN aloud when you are in a public place. Speak softly or write it down on a piece of paper instead. Be sure to retrieve and shred that paper after use.

•    Check your Social Security Personal Earnings and Benefits Estimate Statement each year to check for fraud.

•    Do not carry your SSN card in your wallet except for emergencies.

•    Do not carry wallet cards that display the SSN such as insurance cards, except when needed to receive healthcare services.

Theft identity entails a lot of damage. If you are a victim of it, consult a Social Security fraud attorney to help you in your tedious legal battle ahead.



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Peter Drummond asked:


If you have been feeling the crunch of finding ways to curb your spending on an already fixed income, then you will be delighted to know that your Illinois social security benefits will increase beginning in January.

The Social Security Administration announced on Thursday, October 16 that social security benefits will increase by 5.8 percent in January 2009. It’s easy to see why most social security recipients will welcome this change. Illinois social security benefit payments have not seen an increase since 1982, well over 25 years ago. Illinois social security recipients may see as much as an additional $63 in their monthly checks. Whether retirees receive Illinois social security checks as an Electronic Funds Transfer or by a paper check, they will find it a bit easier to breathe with an added bonus.

Although many people have felt the strain of increased food and gas prices as well as gas and electricity prices, this Illinois social security increase may lessen the pain of those rising costs. Illinois social security retirees have felt the pressure of having to resort to using their savings accounts as well as reaching into their retirement funds to pay for exorbitant basic monthly bills in addition to medical bills. Retirees and those on disability have felt the pain of rising prices more than most and hopefully the Illinois social security benefit increase will offset some of that sting.

With the market’s unpredictable fluctuations and overall economic unease apparently here to stay, many Illinois social security recipients worry that their retirement plans will also be affected. Furthermore, the Congressional Budget Office predicts that Americans’ retirement plans have actually lost as much as $2 trillion over the past year and a half. This is, indeed, something to worry about and why it’s important to leave some of that 5.8 percent increase from Illinois social security paychecks in the bank.

Due to the Cost of Living Adjustment (COLA), Illinois social security retirees would have seen an even higher increase if it wasn’t for the dip in energy costs at the end of summer. Over the past 15 years, COLA has been much lower, so Illinois social security recipients should be thankful for this higher increase next year. However, the increase may not be enough to recover from recent months’ influx of daily living costs. The highest COLA occurred in 1980 with a 14.3 percent boost, which is nearly three times greater than the one beginning in January 2009. Illinois social security benefits have had an annual adjustment since 1975. If you need more information how this increase will affect your benefits, contact an Illinois social security attorney.

If you currently have Medicare, your Illinois social security benefit increase will not, for most retirees, be affected by higher premiums. However, those who are making more than $170,000 a year will see an increase in their premiums. This may be a relief to those earning below $170,000; however, if you’re in the latter category then your questions can be answered through an Illinois social security lawyer.

 

Whether you receive Illinois social security benefits, SSI, or disability benefits, everyone will see an increase in their monthly payments. Furthermore, if you are married you may see as much as $100 more combined a month.

Politicians and other public policy experts have predicted that social security benefits will eventually run dry and it may be sooner than the 78 million baby boomers who are soon to retire had expected. Although the social security trust fund may run out of funding by 2041, Illinois social security retirees and those who will be retiring in the next ten years will actually pay more into the fund than it collects beginning in 2017.

With nearly 170 million workers paying into the system with social security taxes next year, approximately 10 million of those workers will be paying higher taxes resulting from the COLA increase.

So does this mean that now is the right time to start receiving your Illinois social security benefits? That may depend on several things. Illinois social security recipients, along with those who are planning on starting to receive their social security payments within the next year, should ask an Illinois social security attorney any questions they have concerning their benefits, Medicare payments, social security disability payments and other factors that will affect their payments beginning in January.



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Jonathan Kingsbury asked:


http://www.defendingthetruth.com/articles/4808-proposals-change-social-security-benefits.html

During many elections, we have heard proposals from politicians to alter or change Social Security benefits. In this paper, I’m going to research and analyze these proposals to find out whether or not they would be beneficial to the Social Security fund, how it will affect all of us in the future, and the current beneficiaries who receive Social Security.

“The key problem for Social Security is that, as the population ages, soon there will not be enough people paying Social Security taxes to provide benefits for every retired person.” (Dilulio & Wilson 486). This is why so many politicians have proposed changes to the current system. The people in my generation might not see any benefits when it’s our time to retire. “In 1950, there were 16 workers to support every one beneficiary of Social Security; today, there are only 3.3 workers supporting every Social Security beneficiary.” (White House). If Social Security stays unchanged at this rate, Social Security will be paying out more than it takes in. If we ever reach this stage we will be left with two problems, a lot of people paying into the system now will be cut off of Social Security, or the government will borrow more money to pay the beneficiaries, which will increase the national debt.

“Unless otherwise stated, payment levels apply equally to aged, blind, and disabled persons.” (State assistance programs for SSI recipients, 3) I believe that if the Social Security fund only funded beneficiaries who are aged, we would not have such a low number today of 3.3 workers supporting every Social Security beneficiary. “The Budget Enforcement Act, for example, excluded the receipts and disbursements of Social Security from the President’s budget and the congressional budget resolution. Programs that have been excluded like this are called “off-budget”.” (Collender 12)

Robert M. Ball has proposed a plan to alter Social Security while arguing against President Bush’s proposal of private accounts. One thing that Ball has proposed was, “Gradually raise the cap on earnings covered by Social Security so that once again 90 percent of all such earnings would be taxed and counted for benefits” (Ball 2). I believe the means of using tax to fix Social Security will work in the short run, but not in the long. If we do take this approach, should we gradually raise the cap on earnings covered by Social Security even more in the future when Social Security has gone further into debt? Another proposed change by Ball was, “An estate tax is a highly progressive way of meeting this cost, and dedicating it to Social Security would strengthen the contributory.” (Ball 3) Now an estate tax, or sometimes called a “death tax”, is a tax on a person’s estate depending on how much he or she was worth. Again, I see a problem with this proposal because Ball is suggesting that we use another means of tax to be paid into Social Security. I personally think it’s wrong to even have an estate tax because those who are taxed an estate tax were most likely small business owners. “More than 70% of family businesses do not survive the second generation; 87% do not make it to the third generation.” (Frequently Asked Questions about the “Death Tax”)

During the 2000 elections, President Bush was widely known for his proposals to privatize Social Security. Most of the Democrat’s are against Bush’s proposals to change Social Security, whereas, most Republican’s are for Bush’s proposals to change Social Security. In order to find out whether people would be better off under the current Social Security system or a privatized system, I researched the average returns among the current system and compared them to the average returns under a private investment or “private account”.

Barbara Boxer published a “Social Security to Social Insecurity calculator” (Boxer), that calculates the average return an individual will receive under the current system compared to Bush’s privatization plan. I entered many different salaries and years and at every given circumstance, Bush’s plan resulted in a loss. I found this very disturbing considering the large amounts of research I have done last year on retirement accounts.

Dave Ramsey published a ”Privatizing Social Security calculator” (Ramsey), that calculates the return you could expect depending on the type of fund you choose, your income, and your age. Compared to Barbara Boxer’s calculator, I found this calculator more accurate because you were able to choose a fund that had an average annual return, which is calculated into how much you contribute over a given amount of years. The result from Dave Ramsey’s calculator shows how much you will receive from social security and your private accounts when you retire which resulted in a much higher return than social security.

Last year I took an economics class, which covered a great deal in investing for retirement. Some people who are against Bush’s plan of private accounts state that privatizing social security is too risky for retirement. “For individual investors who have neither the time nor the inclusion to actively monitor a stock or a bong portfolio, mutual funds have an obvious appeal. Just pick a good fund and let the managers do the work for you.” (Groz 105). At the age of 19, I visited Fidelity Investments in Braintree, Massachusetts where I was able to start my own investment portfolio. They showed me many funds that ranged from aggressive growth to conservative growth funds. I then chose a couple of mutual funds that were aggressive growth because I was starting my investing at such a young age. “Many investors draw the inference that they should not invest all their money in a single stock or bond, but rather spread out their investments among a group of securities.” (Groz 106). If private accounts were an option, I would recommend people to diversify their investments into many different funds just to limit risk.

Another benefit from investing in certain types of stocks is the dividends. “Dividends, then, are a dividing up and distribution to shareholders of a portion of the corporation’s earnings.” (Groz 27). With these dividends, you can reinvest them into the stock or fund; “Compounding occurs when you get many (e.g., interest or dividends) from an investment and put it back into the portfolio, letting it grow alongside the original investment.” (Groz 183).

After doing researching and analyzing the proposals offered by many politicians, I feel that privatizing Social Security is not such a bad idea. I feel that privatizing Social Security would give people more control of their money when it comes to saving money for retirement that the government cannot touch. I understand that some people might fear the risks of investing in the stock market, but if someone diversifies and chooses funds that are somewhat conservative, there is a very small risk of having little return. Considering that Social Security today has very little return “Social Security’s inflation-adjusted rate of return is only 1.23 percent for an average household of two 30-year-old earners with children in which each parent made just under $26,000 in 1996.” (Beach), you would be better off putting your money into a savings account earning a return close to 3 percent.

“If someone’s definition of national debt excludes the debt owed to federal entities, they are not accounting for the interest on the debt owed to federal entities.” (Ruoco). Since the government’s national debt has been rising year after year which can be seen on (www.publicdebt.treas.gov/opd/opdhisto4.htm), why should I trust the government with my retirement money? This is why I support the idea of privatizing Social Security, or at least giving the American people the option to invest in private accounts.

Sources

Orr, Doug. “Social Security Q & A: separating fact from fiction.” Dollars & Sense 259 (May-June 2005): 15(6).

State assistance programs for SSI recipients. Baltimore, Md. : The Branch, 2002 Jan

Ball, Robert P (2005). “Fixing Social Security” The Century Foundation. 5/3/2005 JustFacts.com. 1 Sep 2001. 25 Nov. 2005 .

United States. A blueprint for new beginnings : a responsible budget for America’s priorities. Washington, D.C: U.S. G.P.O., 2001.

United States. “U.S. Department of the Treasury, Bureau of the Public Debt.” Historical Debt Outstanding – Annual. 25 Nov. 2005 .

White House. “Strengthening Social Security for Future Generations.” Strengthening Social Security. The White House. 25 Nov. 2005 .



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Mary Jean Kuda asked:


Rolling Hills is a city in Los Angeles County bordered by the Rolling Hills Estates to the north and Rancho Palos Verdes on all other sides. As of the recent census, the city population was 1,871. It is the 21st richest place in the United States and fourth for places with a population of at least 1,000.

It is a private, gated city atop the scenic hills of Palos Verdes. Incorporated in 1957, it maintains a ranch character with an enduring respect for the natural surroundings, with no traffic lights, large spaces between houses and wide equestrian paths along streets.

In a rich city like Rolling Hills, Social Security problems will surely arise. When they do, Rolling Hills Social Security lawyers are just standing by to help you with the complex and often frustrating procedure of applying for and obtaining Social Security benefits.

Claims under Social Security may be pursued with or without a representative. However, when filed with a representative, preferably a lawyer, the claimants will definitely have a higher percentage of winning their claims rather than in pursuing it alone.

This is because upon application necessary paper works must be submitted – and if it does not convince the Social Security Administration then the claim will be denied at the onset.

So if you doubt the weight and believability of your paper work for your social security claim take some advice and look for qualified assistance right away.

Denial at the Initial Stage does not deter you from further enforcing your claim. You may file a request for reconsideration. Denial of the request may be expected at this stage. In fact, 80% to 85% of claims for reconsideration are denied.

Denial of the request for reconsideration does not put an end to your claim. You can ask that your case be heard by a Judge. Again, this may be done with or without a representative.

Then again, it is better to go to court with a representative as to do without will expose you from further partiality.

For example, the judge, upon seeing you alone and without any knowledge of court procedure, will not be hesitant to deny your claim.

Undeniably, the role of a Rolling Hills Social Security lawyer in your claim is necessary not only to facilitate a faster claim but also to guide you in navigating through the intricate legal process.

However, this should not be understood to mean that the assistance of a lawyer would surely bring positive results on your claim. Of course, Social Security lawyers are not insurers of your claim’s approval. There are times that even when assisted by a lawyer denial may still result.

Engaging the services of a lawyer in your social security case can surely spell a difference between approval and disapproval of claim for benefits. You will for sure put a good fight when you appear prepared before the administration or judge.

With this in mind, determining the issue of representation and the representative to handle your social security case is not simple task. You must think several times before filing your claim unprepared or unrepresented.

For immediate response to your Social Security concerns, employ the aid of our Rolling Hills lawyers. Just log on to our website and avail our free case evaluation services.



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Peter Drummond asked:


The Treasury Department, in conjunction with Comerica Bank based in Dallas, has created a social security Direct Express Debit MasterCard as an alternative to paper checks for those persons who do not have bank accounts. The debit card is now available in ten southern states, but is on its way toward the north and western states. Missouri social security lawyers are ready to answer clients’ questions regarding the pros and cons of using this free debit card that will be an option in the coming months. 

The Advantages of the Direct Express Debit MasterCard:

- Will help about 4 million Americans who do not have a bank account, and must receive paper checks.

- Will reduce the vulnerability of check fraud

- Dramatically help the delay of checks mailed in hurricane-ridden states such as Alabama, Florida, Louisiana and Mississippi

- No sign-up fees

- No monthly fees

- No overdraft fees

- No credit check is required to enroll

- Gain access to cash via an ATM, bank teller or retailer

- Set up free “low balance” alerts via email or phone 

While the advantages look appealing with all the “freebies” and usability, Missouri social security lawyers remind their clients to read the fine print. The same holds true for SSA’s new debit card because there are still fees associated with the little plastic card that all people should be aware of. Nothing is a “one-for-all” payment plan, so be sure to read the small print at the bottom of the agreement for this debit card, even if you have to use those extra strength reading glasses. 

The Disadvantages of the Direct Express Debit MasterCard:

- ATM fees – users can make one free withdrawal from a network ATM per month; all other ATM withdrawals within the network will cost 90 cents.

- Non-network ATM use will incur the 90 cent fee in addition to the surcharge of the other bank, which can be as much as 3 dollars per cash withdrawal.

- Social security debit cards are costly to use outside the U.S. ATM withdrawals can incur both a bank fee as well as 3 percent of the amount withdrawn. Debit purchases also cost an additional 3 percent of your total amount. Your best bet is to use your one month free withdrawal from a network ATM before you travel abroad or to Mexico or Canada and exchange it for the country’s currency.

- Paper statements cost 75 cents a month. Best option is to receive them via email and print them yourself.

- Online billing from Comerica will also incur a 50 cent per bill charge. Use the merchant’s Website to make payments or purchases online.

- Only 1 free replacement card each year; additional replacements cost $4.00, or $13.50 if you require an overnight delivery. 

Obviously many people have several concerns about the fees and limitations of the SSA’s alternative payment system. Even those folks who have not started receiving social security have voiced their disdain about such a program. While others are simply concerned about the amount of social security they receive or may receive in the future to cover daily living expenses such as heat, electricity, food and medical bills. What happens when their monthly checks run out before the end of the month or they require more money to cover unforeseen medical bills? How will the social security administration help those who need it most? 

If you need further information or have greater concerns with this new system, your Missouri social security lawyers are just a phone call away.



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