Amit Mehta asked:


People who are gainfully employed have Social Security records. Through tax deducted from your monthly payroll, you make a contribution to a social insurance program, forming the basis of these documents. These records contain your Social Security number as well as other relevant information such as your full name, date of birth, contact numbers, dependents, and others.

Social Security documents enable you to obtain benefits for three major instances. The first is for disability, where you are temporarily or permanently unable to return to work because you became physically or mentally impaired. The second area for claiming benefits is for retirement from employment. The third and final incidence would be for death, wherein your dependents will be able to make a claim.

The Importance of Social Security Records

Familiarity with your own Social Security documents is crucial for the obvious reason that you are mandated by law to make contributions to the government through salary deductions. And the way to maximize these contributions is by becoming aware of the benefits that you are entitled to at any time in your work life.

For instance, your retirement age is dependent on the year that you were born and if you retire earlier than the required age, then you will get a smaller benefit package. The reverse is also true since if you delay retirement, then you will be entitled to a much larger benefit package.

In recent years, Social Security documents have had to be placed under tighter control and protection because of incidents of identity theft and fraud. Some people acquire the records of other people so that they can claim benefits that are not rightfully theirs. Indeed, there have been many instances where people diligently make their contributions only to find out that somebody else has robbed them of their benefits.

A worse scenario is when one’s records have been used by others to open bank accounts and obtain credit cards. In this case, the unwitting victim is accumulating debt and his credit record is being tarnished by others. All of these point to one thing – it is important that you regularly get a copy of your Social Security documents so that you can monitor your records and report any false entries immediately.

So how do you access your records?

Your Social Security records can easily be asked for online. You can apply for your benefits online too in addition to being able to update your records, and block access of your information to others. It is undeniably cheaper, faster and more efficient to transact online. Another advantage of accessing these online documents is that they are ideal for people who are disabled or incapacitated and cannot go to a nearby Social Security office.

Your Social Security information is one of the most important records you have so use it and protect it wisely.



Kansieo.com

Sammy Beanard asked:


The value of Social Security should be determined by its effectiveness as a social insurance program, combining elements of both individual equity and social adequacy.

Because benefits are related to a worker’s lifetime earnings, individual equity is an intrinsic part of the Social Security concept.

But to understand and evaluate the program, we have to remember that certain features of Social Security are geared toward meeting broad-based social needs rather than simply whether or not an individual is getting a good return on the dollar.

For example, the basic benefit formula is designed, and always has been, to replace a higher proportion of earnings for low earners than for high earners.

Also, there is another part of the social adequacy aspect of Social Security. Dependents’ and survivors’ benefits are paid to workers with families.

Because the program strikes a balance between the goals of individual equity and social adequacy, I believe we must judge Social Security’s value by how well it performs as an entire package of social insurance protection.

The value of benefits for any given worker depends on his or her individual circumstances, whether that worker has high earnings or low earnings, whether that worker is married or has children, whether that worker becomes disabled, dies prematurely, or receives benefits far into old age.

Some people can expect to get back more than they put into Social Security, some to break even, and some to get less.

The value of these programs cannot be overestimated. For example, over 40 percent of male workers and nearly 30 percent of female workers will become disabled or die before they reach retirement age.

They may not get their money’s worth if you only look at whether they get their contributions back and do not consider the program’s other aspects.

So Social Security disability and survivors’ benefits assure workers that they and their families will not become destitute. And when we assess the value of Social Security, we have to take that into consideration.

Social Security is an integral part of American life. Virtually the entire labor force pays Social Security taxes.

And people count on Social Security to be there for them when they retire. And they count on Social Security to be there for their families should they become disabled or die.

The American people have a right and a need to know that Social Security is still a valuable program.



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