Actuarial deficit refers to the difference between payout obligations of the Social Security program and the income rate of the Social Security Trust Fund.

Actuarial deficit refers to the difference between future Social Security obligations and the income rate of the Social Security Trust Fund as of the present. The Social Security program is said to be in actuarial deficit if the summarized income rate is less than the summarized cost rate of Social Security for any given valuation period. The actuarial deficit is the difference between future obligations for payouts from the Social Security program and the current income rate of the program’s trust funds. To correct an actuarial deficit, or get to an actuarial balance, the Social Security program either has to decrease benefit payouts or increase the payroll tax rate. Actuarial deficit refers to the difference between future Social Security obligations and the income rate of the Social Security Trust Fund as of the present.

Actuarial Deficit

Average indexed monthly earnings (AIME) is used to determine the primary insurance amount (PIA) that values an individual's social security benefits.

Average indexed monthly earnings (AIME) are used to calculate the primary insurance amount (PIA), which is used to determine an individual's Social Security benefits. If someone doesn't have 35 years of earnings, a zero will be used in the calculation, which will lower the average. Total the highest 35 years of indexed earnings and divide this total by 420 (the number of months in a 35-year work history). The result is a person's AIME. The Social Security benefits calculation uses the highest 35 years of someone's earnings to calculate their average monthly earnings. Average indexed monthly earnings (AIME) are used to calculate the primary insurance amount (PIA), which is used to determine an individual's Social Security benefits. Average indexed monthly earnings (AIME) is used to calculate a person's Social Security benefits.

Average Indexed Monthly Earnings (AIME)

A cost-of-living adjustment (COLA) is made to Social Security and Supplemental Security Income to adjust benefits to counteract the effects of inflation. 

Social Security Announces 1.3 Percent Benefit Increase for 2021

The Interaction Between Medicare Premiums and Social Security COLAs

Overseas Cost of Living Allowances (COLA)

A cost-of-living adjustment (COLA) is an increase made to Social Security and Supplemental Security Income to counteract the effects of inflation. Cost-of-living adjustments are typically equal to the percentage increase in the consumer price index for urban wage earners and clerical workers (CPI-W) for a specific period.﻿﻿ So if someone received $10,000 in Social Security benefits last year and the COLA for this year is 4.1%, their benefits for this year would be $10,410. Inflation is measured using the consumer price index for urban wage earners and clerical workers (CPI-W).
Automatic yearly COLAs began in 1975.
The COLA for 2020 is 1.6%; for 2021 it is 1.3%.
Because inflation was high during the 1970s, compensation-related contracts, real estate contracts, and government benefits used COLAs to protect against inflation. The COLA formula is determined by applying the percentage increase in the CPI-W from the third quarter of one year to the third quarter of the following year. From 1976 to 1983, COLAs were based on the increases in the CPI-W from the first quarter of the previous year to the first quarter of the current year.

Cost-of-Living Adjustment (COLA)

File and suspend was a Social Security claiming strategy that allowed couples of retirement age to receive spousal benefits while delaying retirement credits.

If you were born between 1943 and 1954 your full retirement age is 66

File and suspend was a strategy that enabled the lower-earning spouse to start receiving spousal benefits, even though the higher-earning spouse had only filed for, but not started receiving, full retirement benefits. if a person delays retirement benefits until the age of 69 (three years past the current retirement age of 66), they will receive a monthly benefit 24% higher than what it would have been if they had retired at age 66 (8% for each year deferred). File and suspend was a Social Security claiming strategy that allowed married couples of full retirement age to receive spousal benefits and delay retirement credits at the same time. It was ended as of May 1, 2016, by the Bipartisan Budget Act of 2015, signed on Nov. 2, 2015, by President Obama, and so is no longer a viable strategy.
File and suspend was a social security maximization strategy that allowed married couples to receive spousal benefits and delay retirement credits.

File and Suspend

Indexed earnings is a calculation the Social Security Administration (SSA) uses that takes inflation into consideration when determining life-long wages.

Indexed earnings is a calculation the Social Security Administration (SSA) uses that takes inflation into consideration when determining life-long wages. Social Security benefits in the U.S. are calculated using average indexed monthly earnings, a type of indexed earnings. If earnings were not indexed in this manner, then retirees would receive much lower benefits that would be out of proportion to the true buying power of their earnings in prior years. This is determined by taking the 35 highest years (prior to age 60) of indexed earnings and dividing that figure by the total number of months worked during those years. Disability payment calculations take the 35 highest years of indexed earnings and divide them by the months worked in those years.

Indexed Earnings

IRS Publication 517 details U.S. income tax rules for members of the clergy and other religious workers.

Publication 517: Social Security and Other Information for Members of the Clergy and Religious Workers

IRS Publication 517: Social Security and Other Information for Members of the Clergy and Religious Workers delineates and updates the income tax and Social Security/Medicare tax rules for those who serve in a ministerial capacity, are members of recognized religious orders or sects, or are some other sort of religious organization employee. **Members of a recognized religious sect** can be covered under FICA if they are an employee without an approved exemption from the IRS, or under SECA if they are self-employed and do not have an approved exemption from the IRS.
**Christian Scientist practitioners or readers** are typically covered under SECA if they do not have an approved exemption from the IRS. IRS Publication 517: Social Security and Other Information for Members of the Clergy and Religious Workers is a document published each year by the Internal Revenue Service detailing the ways that those who work in or perform services for religious organizations and orders are required to file their income, Social Security and Medicare taxes. In regards to Social Security and Medicare, Publication 517 indicates which forms of income are payable under the Self-Employment Contributions Act (SECA) system or the Federal Insurance Contributions Act (FICA) system.

IRS Publication 517

The Medicare Catastrophic Coverage Act of 1988 (MCAA) was a government bill designed to improve acute care benefits for the elderly and disabled.

H.R.2470 - Medicare Catastrophic Coverage Act of 1988

The Medicare Catastrophic Coverage Act: A Post-Mortem

Topic No. 751 Social Security and Medicare Withholding Rates

The Medicare Catastrophic Coverage Act of 1988 (MCAA) was a government bill designed to improve acute care benefits for the elderly and disabled, which was to be phased in from 1989 to 1993. The Medicare Catastrophic Coverage Act of 1988 was meant to expand Medicare benefits to include outpatient drugs and limit enrollees' copayments for covered services. The Medicare Catastrophic Coverage Act of 1988 (MCAA) was a government bill designed to improve acute care benefits for the elderly and disabled, which was to be phased in from 1989 to 1993. Medicare tax is similar to Social Security tax, which is also taken out of employees’ paychecks. Medicare is a complex and weighty federal program that taxpayers help pay for with Medicare wages.

The Medicare Catastrophic Coverage Act of 1988 (MCCA)

Medicare Part B premiums are a monthly fee for medical insurance to cover services not covered in Medicare Part A. 

COVID-19 Emergency Declaration Blanket Waivers for Health Care Providers.

Medicare Part B premiums are monthly fees that Medicare beneficiaries pay for insurance that covers medically necessary services and preventive services that aren't covered by Medicare Part A.﻿﻿ Part B covers things like ambulance services, doctor visits, lab work, and medical equipment.﻿﻿ By contrast, most people don't have to pay a premium for Medicare Part A.
Medicare Part B covers ambulance services, doctor visits, lab tests, and certain medical equipment. If you're eligible when you turn 65, you can sign up during the seven-month period that:
Starts three months before the month you turn 65
Includes the month you turn 65
Ends three months after the month you turn 65
If you don't sign up for Part B when you are first eligible for it, you could be stuck paying a late enrollment penalty of 10% for each 12-month period when you could have had Part B but didn't enroll in it.﻿﻿﻿ However, you may choose to delay enrolling in Part B if you already have health coverage. Medicare Part B premiums are monthly fees that Medicare beneficiaries pay for insurance that covers medically necessary services and preventive services that aren't covered by Medicare Part A.﻿﻿ Medicare Part D prescription drug coverage is an optional benefit offered to anyone who has Medicare.﻿﻿ If you choose not to get Medicare Part D coverage when you're first eligible

Medicare Part B Premiums

Medicare Part A, or Medicare hospital coverage, is one of the four parts of Medicare, the government’s health insurance program for older adults.

Original Medicare (Part A and B) Eligibility and Enrollment

2021 Medicare Parts A & B Premiums and Deductibles

COVID-19 Emergency Declaration Blanket Waivers for Health Care Providers

Table of Contents
What Is Medicare Part A? Understanding Medicare Part A
Medicare Part A Eligibility
How to Sign Up for Medicare Part A
Special Considerations for Medicare Part A The three reasons why Medicare Part A might not cover something are:
General federal and state laws
Specific federal laws about what Medicare covers
Local Medicare claims processors’ assessment of whether a service is medically necessary
One example of a service Medicare does not usually cover is custodial care in a skilled nursing facility—help with basic activities of daily living, such as getting dressed, bathing, and eating—if it’s the only care you need. Medicare Part A, or Medicare hospital coverage, pays for care at a hospital, skilled nursing facility, or nursing home, and for home health services. Medicare Part A helps pay for bills related to inpatient hospital stays, skilled nursing facility care, inpatient care in a skilled nursing facility, hospice care, and home health care.

Medicare Part A

The National Average Wage Index is a measure of U.S. wage trends calculated annually by the Social Security Administration.

The National Average Wage Index (NAWI) is a measure of U.S. wage trends calculated annually by the Social Security Administration (SSA). The 2019 National Average Wage Index is calculated by multiplying the previous year's NAWI by the change in average wages for the previous two years (based on the SSA’s average wage data).
For example, the 2019 NAWI would be calculated by multiplying the 2018 NAWI by the change in the average wage from 2017 to 2018. The National Average Wage Index (NAWI) is a measure of U.S. wage trends calculated annually by the Social Security Administration (SSA). The individual takes the NAWI for the year they turn 60 and divides it by the NAWI for the year they are indexing; they then multiply their included earnings by this number. The National Average Wage Index provides insight into the direction of wage trends and may alert policymakers to wage inflation, which might impact the Federal Reserve’s decision to raise interest rates.

National Average Wage Index (NAWI)

China’s National Social Security Fund (NSSF) is a government-controlled investment fund established to fund China's social security system.

About the National Council for Social Security Fund

The National Social Security Fund in China is a government-run investment fund established primarily to provide a reserve of funds for China's social security system. Direct investments mainly include:
Bank deposits
Trust loans
Equity investments
Equity investment funds
Transfers of existing state-owned shares
Indexed stock investments
Entrusted investments include allocations to managers in the areas of:
Domestic stocks
Foreign stocks
Securities investment funds
Derivative financial instruments
At the end of 2018, the NSSF reported the following details:
Domestic investment assets of 2.061 trillion yuan, accounting for 92.20% of the total social security fund assets
Overseas investment assets of 174.360 billion yuan, accounting for 7.80% of the total social security fund assets
2018 investment return rate of -2.28%
An annual average investment return rate of 7.82% since the fund’s establishment
92% of the total social security fund assets are in domestic investments. On August 1, 2000, the Central Committee of the Communist Party of China and the State Council established the National Social Security Fund, along with the National Council for Social Security Fund to oversee its assets. The National Social Security Fund in China is a government-run investment fund established primarily to provide a reserve of funds for China's social security system. The National Council for Social Security Fund works under the oversight of China’s State Council in managing assets that can become available in retirement, for survivors, and through disability.

China’s National Social Security Fund (NSSF)

The full retirement age is the age at which people can receive full retirement benefits upon leaving the workforce.

Retirement Benefits: If You Were Born Between 1943 and 1954 Your Full Retirement Age Is 66

Retirement Benefits: Full Retirement and Age 62 Benefit by Year of Birth

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If You Were Born in 1960 Your Full Retirement Age Is 67

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Application for Unemployment Pension in Advanced Age or Old Age

What You Need to Know About the Pension System

Table of Contents
What Is Full Retirement Age?
Understanding Full Retirement Age (FRA) The Internal Revenue Service (IRS) identifies FRA for minimum vesting purposes as “the earlier of (A) the time a plan participant attains normal retirement age under the plan or (B) the later of age 65 or the fifth anniversary of the time a plan participant commenced participation in the plan.”
Public servants, police officers, and military members, for example, typically receive full benefits after a certain number of service years, rather than at a specific age.
In 2021, FRA for Social Security retirement benefits is 66 years and two months for people born in 1955, and it will gradually rise to 67 for those born in 1960 or later. Full Retirement Age (FRA) Changes
Full Retirement Age (FRA) Around the World
The full retirement age (FRA), also known as the “normal retirement age,” is the age at which people can receive full retirement benefits upon leaving the workforce. In the U.S., for example, the FRA for receiving Social Security benefits is 67 years of age for people born in 1960 or after, 66 for people born from 1943 to 1954, and 66 and two, four, six, eight, or 10 months for people born from 1955 to 1959 (the age increases by two months each successive year). Canada: 65
China: 60 (men); 50 (blue-collar women); or 55 (white-collar women)
Germany: 65 and six or seven months (depending on birth year, and gradually increasing to 67 for those born in 1964 or after)
Indonesia: 56 (gradually increasing to 65 by 2043)
South Korea: 62 (gradually increasing to 65 by 2033)
Philippines: 60
Russia: As of 2018, 60 for men (gradually increasing to 65 by 2028) and 55 for women (gradually increasing to 60 by 2028)
United Kingdom: 66 (to be increased to 67 by 2028)
United States: 66 for those born from 1943 to 1954; increasing by two-month intervals each year for those born from 1955 to 1959; 67 for those born in 1960 and after

Full Retirement Age (FRA)

The Old-Age, Survivors, and Disability Insurance (OASDI) program is the official name for Social Security in the United States.

Historical Background And Development Of Social Security

The federal Old-Age, Survivors, and Disability Insurance (OASDI) program is the official name for Social Security in the United States. The U.S. Social Security program is the largest such system in the world and is also the biggest expenditure in the federal budget, projected to cost $1.2 trillion in 2021.﻿﻿ Nearly nine out of 10 individuals age 65 and older receive Social Security benefits, according to the Social Security Administration (SSA).﻿﻿ Social Security calculates your average indexed monthly earnings (AIME) during the 35 years in which you earned the most. The OASDI tax noted on your paycheck funds this comprehensive federal benefits program that provides benefits to retirees and disabled people—and to their spouses, children, and survivors. These revenues are kept in two trust funds:
The Old-Age and Survivors Insurance (ASI) Trust Fund for retirement
The Disability Insurance (DI) Trust Fund for disability
These trust funds pay out the benefits and invest the remainder of the revenue they collect. The program was ushered in through the Social Security Act, signed by President Franklin D. Roosevelt on August 14, 1935, when the U.S. economy was in the depths of the Great Depression.﻿﻿ The program has grown massively over the decades, along with the U.S. population and economy.

Old-Age, Survivors, and Disability Insurance (OASDI) Program

The Old-Age and Survivors Insurance Trust Fund is a U.S. Treasury account that funds Social Security benefits paid to retired workers and their survivors.

Status of the Social Security and Medicare Programs A Summary of the 2021 Annual Reports

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The Old-Age and Survivors Insurance Trust Fund (OASI) is a U.S. Treasury account used to deposit tax receipts that fund Social Security benefits paid to retired workers, their surviving spouses, and eligible children. The Old-Age and Survivors Insurance Trust Fund (OASI) is a U.S. Treasury account used to deposit tax receipts that fund Social Security benefits paid to retired workers, their surviving spouses, and eligible children. Together, the OASI and DI Trust funds—known as Social Security—provide retirement, survivorship, and disability benefits to 65 million Americans, paying out more than $1 trillion each year.
The combined OASI and DI trust funds held $2.9 trillion in 2020. The Old-Age and Survivors Insurance (OASI) Trust Fund is a Treasury account used to pay out Social Security benefits. The fund is managed by the Social Security Administration (SSA), which holds the authority to distribute OASI Trust Fund benefits to eligible parties.

Old-Age and Survivors Insurance (OASI) Trust Fund

Primary insurance amount is a calculation, used with the Average Indexed Monthly Earnings (AIME), to determine a person's Social Security benefits. 

Social Security Benefit Amounts - Average Indexed Monthly Earnings (AIME)

The primary insurance amount (PIA) is the result of a calculation used to determine the Social Security benefits amount that would be paid out to an eligible retiree at full retirement age. The primary insurance amount (PIA) is the result of a calculation used to determine the Social Security benefits amount that would be paid out to an eligible retiree at full retirement age. For 2021, the PIA calculation takes 90% from the first $996, 32% from earnings over $996 but under $6,002, and 15% of monthly earnings over $6,002.﻿﻿ In this example, the PIA would be $1,777 after being rounded down to the nearest whole dollar. Having the knowledge of what goes into the calculation can help one better understand how Social Security obtains these figures and how much an individual's annual earnings would need to be over a lifetime in order to reach a desired monthly retirement benefit. The primary insurance amount (PIA) is the amount of Social Security benefits paid to a retiree at full retirement age.

Primary Insurance Amount (PIA)

A representative payee is an individual who acts as the receiver of disability or Social Security payments for someone who is not capable of managing their own benefits.

Annual Report on the Results of Periodic Representative Payee Site Reviews and Other Reviews

Frequently Asked Questions (FAQs) for Representative Payees

Annual Statistical Supplement to the Social Security Bulletin, 2019

Form SSA-11-BK, Request to Be Selected as Payee

Table of Contents
What Is a Representative Payee?
Understanding the Term A representative payee, or substitute payee, accepts disability or Social Security income payments for someone who is not capable of managing their own benefits. Ideally, according to the Social Security Administration (SSA), family, friends, legal guardians, or lawyers will typically serve as representative payees. According to the Social Security Administration, more than 8% of all Social Security recipients use a representative payee. A representative payee is appointed to accept disability or Social Security payments on behalf of someone incapable of managing their benefits.

Representative Payee

The Social Security Act established a benefits system for people who are retired, jobless, or have a disability. A payroll tax funds these benefits.

Historical Background and Development of Social Security.

Historical Background and Development of Social Security

The Social Security tax pays for the retirement, disability, and survivor benefits that millions of Americans receive each year under the Old-Age, Survivors, and Disability Insurance (OASDI) Program—the official name for Social Security in the U.S. Social Security tax is collected in the form of a payroll tax mandated by the Federal Insurance Contributions Act (FICA) or a self-employment tax mandated by the Self-Employed Contributions Act (SECA). The Social Security tax combines with the Medicare tax to form FICA, or the payroll tax. A key feature of the Social Security Act—and Social Security as a social program—is how it is funded.

Social Security Act

Social Security benefits are payments made to qualified retirees and disabled people, and to their spouses, children, and survivors.

Social Security (Old-Age, Survivors, and Disability Insurance) Program Description and Legislative History.

Historical Background And Development Of Social Security.

Section 1. Social Security: The Old-Age, Survivors, and Disability Insurance (OASDI) Programs.

The Social Security Windfall Elimination Provision: Issues and Replacement Alternatives.

Benefits Planner: Survivors | Receiving Survivors Benefits Early.

Tax Season — It’s About What You Know.

Table of Contents
What Are Social Security Benefits?
How Social Security Benefits Work
Spousal and Survivor Benefits The SSA’s retirement calculators can help you determine your full retirement age, the SSA’s estimate of your life expectancy for benefit calculations, rough estimates of your retirement benefits, actual projections of your retirement benefits based on your work record, and more. Social Security—officially the Old-Age, Survivors, and Disability Insurance (OASDI) program in the U.S.—is a comprehensive federal benefits program designed to provide partial replacement income for retirees and their spouses, those whose spouse or qualifying ex-spouse has died, and the disabled. Spouses who didn’t work or who didn’t earn enough credits to qualify for Social Security on their own can receive benefits starting at age 62 based on their spouse’s work record. You can collect Social Security retirement benefits at age 62, but the amount of the benefit will be reduced to compensate for receiving it earlier and, presumably, for a longer period of time.

Social Security Benefits

This tax, levied on both employers and employees, funds Social Security and is collected in the form of a payroll tax or a self-employment tax.

Social Security (Old-Age, Survivors, and Disability Insurance) Program Description and Legislative History

Self-Employment Tax (Social Security and Medicare Taxes)

Social Security: Raising or Eliminating the Taxable Earnings Base

Table of Contents
What Is the Social Security Tax? Social Security tax is collected in the form of a payroll tax mandated by the Federal Insurance Contributions Act (FICA) or a self-employment tax mandated by the Self-Employed Contributions Act (SECA).
The Social Security tax pays for the retirement, disability, and survivorship benefits that millions of Americans receive each year under the Old-Age, Survivors, and Disability Insurance (OASDI) Program—the official name for Social Security in the U.S. The Social Security tax rate will only be applied up to the limit of $137,700 (The Social Security tax limit for 2020 is $137,700; the limit jumps to $142,800 in 2021). Social Security tax is the tax levied on both employers and employees to fund the Social Security program. The Social Security tax is a regressive tax, meaning that a larger portion of lower-income earners' total income is withheld, compared with that of higher-income earners.

Social Security Tax

The Social Security Trust Fund refers to two accounts used by the U.S. government to manage surplus contributions to the Social Security system. 

Social Security & Medicare Tax Rates: Footnote Four

Social Security Income, Cost, And Asset Reserves

Trust Fund FAQs: Were the assets of the funds depleted in the past?

The Social Security Trust Fund was created to account for an anticipated future shortfall in benefits needed to pay retirees via Social Security benefits payments.
Following an increase in the Social Security payroll tax in the 1980s, the excess contributions from the tax increase were deposited into the Social Security Trust Fund to be used at a future date when the current assets of the Social Security system are no longer sufficient to cover their obligation. The two funds that make up the Social Security Trust Fund are the Old-Age and Survivors Insurance (OASI) Trust Fund—which pays retirement and survivor benefits—and the Disability Insurance (DI) Trust Fund—which pays disability benefits. The Social Security Trust Fund refers to two accounts used by the U.S. government to manage surplus contributions to the Social Security system. The Social Security Trust Fund receives payroll taxes and pays out benefits to participants.

Social Security Trust Fund

Social Security is a federally run insurance program that provides benefits to many American retirees, their survivors, and workers who become disabled.

Your Retirement Benefit: How It’s Figured

Benefits Planner: Survivors - If You Are the Survivor

That money goes into two Social Security trust funds—the Old-Age and Survivors Insurance (OASI) Trust Fund for retirees and the Disability Insurance Trust Fund (DI) for disability beneficiaries—where it is used to pay benefits to people currently eligible for them. Social Security is the term used for the Old-Age, Survivors, and Disability Insurance (OASDI) program in the U.S., run by the Social Security Administration (SSA), which is a federal agency. Workers who have paid into the Social Security system for at least 10 years become eligible for early retirement benefits at age 62. People who can’t work due to a physical or mental disability that is expected to last for a year or more—or result in death—may be eligible for Social Security disability benefits.

Social Security

The Social Security Administration (SSA) is a U.S. agency that administers social programs covering disability, retirement, and survivors’ benefits.

Personal saving rate in the United States from June 2015 to December 2020

Monthly Statistical Snapshot, January 2021

Seila Law LLC v. Consumer Financial Protection Bureau

Collins, et al. vs. Yellen, Secretary of the Treasury, et al

Constitutionality of the Commissioner of Social Security's Tenure Protection

Organizational Structure of the Social Security Administration

Are Social Security services affected by Coronavirus (COVID-19)?

The 2020 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds

The Social Security Administration (SSA) is a U.S. government agency that administers social programs covering disability, retirement, and survivors' benefits. It administers the granting of Social Security numbers (SSNs), which have become a de facto national identification number that must be provided to access numerous services, such as credit, insurance coverage, and even hunting licenses.
Due to the COVID-19 pandemic, all local Social Security offices are closed for walk-in service, though in-person appointments can be scheduled by phone in advance for some situations.
Every year the boards of trustees of Social Security and Medicare issue a report on the current and projected financial status of the two programs. The Social Security Administration (SSA) is the organization that oversees and runs the Social Security program in the United States. The Social Security Administration (SSA) is a U.S. government agency that administers social programs covering disability, retirement, and survivors' benefits. On Friday, July 9, President Biden fired Social Security Commissioner Andrew Saul and appointed the current deputy commissioner for retirement and disability policy, Kilolo Kijakazi, as acting commissioner.

Social Security Administration (SSA)

Supplemental Security Income is a tax-funded federal program providing monthly cash distributions for older and disabled people with little income.

Supplemental Security Income Eligibility Requirements

Supplemental Security Income for Children

Supplemental Security Income (SSI) Income

Supplemental Security Income (SSI) is a federal program in the United States that provides additional income for older and disabled people with little to no income. Supplemental Security Income (SSI) is a federal program in the United States that provides additional income for older and disabled people with little to no income. Supplemental Security Income (SSI) provides additional income to elderly or disabled citizens that have little other income to provide a basic safety net. To become eligible for SSI, a person or couple's combined income cannot exceed the monthly SSI payment as outlined by the FBR. The Federal Benefit Rate (FBR) outlines both the SSI income limit for eligibility and the maximum monthly SSI payment.

Supplemental Security Income (SSI)

A Social Security number (SSN) is a numerical identifier assigned to U.S. citizens and some residents to track their income and determine benefits.

The Social Security Number was created in 1935

Your Social Security Number: The 9-Digit Evolution

Form SS-5 Application for a Social Security Card

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Table of Contents
What Is an SSN? Other key moments in the SSN's timeline include:
The use of SSNs for tax reporting purposes by the Internal Revenue Service (IRS) in 1962
The requirement of banks to obtain SSNs from all their customers as of 1970
The need to provide financial institutions with your SSN for an interest-bearing account in 1983
The printing of SSNs on driver's licenses as well as birth and death records in 1996; SSNs were removed from driver's licenses and birth records in 1999
The removal of laws requiring SSNs as a way to identify individuals in 2008
A Social Security number and the corresponding card may be obtained by filling out Form SS-5: Application for a Social Security Card from the SSA. The legal framework for assigning a Social Security number is provided under Section 205(c)(2) of the Social Security Act (42 U.S. Code, Chapter 7, Subsection 405). To get a Social Security number, you must file Form SS-5 with the Social Security Administration. The term Social Security number (SSN) refers to a numerical identifier assigned to U.S. citizens and other residents to track income and determine benefits.

Social Security Number (SSN)

Substantial gainful activity marks the salary threshold used by the Social Security Administration to determine eligibility for disability benefits.

Determinations Of Substantial Gainful Activity (SGA)

Supplemental Security Income (SSI) pays benefits to disabled individuals who meet a specific set of financial eligibility requirements, whether previously employed or not.﻿﻿ For non-blind individuals, the SSA uses the SGA threshold to determine eligibility for benefits from either program.
For statutorily blind individuals, however, the SSA only uses the SGA to determine eligibility for payments under the SSDI program. Those who meet the SSA’s statutory definition of blindness have a higher SGA threshold than those who do not, which means blind individuals can generally earn more per month than non-blind individuals before they become ineligible for disability benefits. Substantial gainful activity (SGA) represents the monthly threshold salary used by the U.S. Social Security Administration (SSA) to qualify individuals for disability benefits. Once the SSA approves disability benefits for a given citizen, it allows that person to continue to receive benefits for a brief period after that person becomes able to re-enter the workforce and earn more than the SGA amount each month.