Vol_Tax_page

Changing Your Voluntary Tax Withholding

Q: How do I change the amount of taxes withheld from my Social Security benefit? A: Taxes are not routinely withheld from Social Security benefits but you can request, change or end voluntary Federal tax withholding by completing IRS Form W-4V, Voluntary Withholding Request, and returning it to your local SSA office. Voluntary withholding is…
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Money2

Is Social Security Retirement Prorated?

Q: If starting retirement at age 62, is Social Security prorated for the days that I am 62? A: Social Security benefits are not prorated. You are either eligible for the complete month or not at all. For retirement, you must be at least age 62 through the entire month to receive benefits for that month. A…
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TrusteesReport2016

2016 OASDI Trustees Report – Financial Operations

Today I am continuing with information from the Social Security Board of Trustees annual report on the long-term financial status of the Social Security Trust Funds. There are two separate Social Security trust funds, the Old-Age and Survivors Insurance (OASI) fund, and Disability Insurance (DI) fund. While by law these are separate, overall fund information…
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TrusteesReport2016

2016 OASDI Trustees Report – Highlights

The Security Board of Trustees released its annual report on the long-term financial status of the Social Security Trust Funds on June 22. Given how important the Social Security retirement, survivors and disability programs are, both on a national and individual level, I think everyone should have at least a general awareness of the report information…
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mySocialSecurity

Your My Social Security Password

Q: On long does a my Social Security password stay valid? A: Establishing your online my Social Security account at www.ssa.gov/myaccount/ allows immediate access to a growing number of services. You choose a personal username and password when creating your account. For security reasons, your password is valid for 6 months. If your password expires,…
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