1. SOCIAL SECURITY
Your Life-long Partner

2. 3-Legged Stool of Retirement Security
Social Security
Savings
Pensions
This is a graphic representation of the traditional three-legged stool concept and is offered to you as a more simple alternative to the above slide.
You may wish to mention wages and health insurance as other potential legs.

3. What You Need to Do Now To Prepare for Retirement
Learn more about the Social Security programs
Utilize the Retirement Estimator ONLINE- register for MYSSA account
Plan to Save

4. You Need to Work to Earn Social Security Credits
Each $1260 in earnings gives you one credit
You can earn a maximum of 4 credits per year
EXAMPLE: To earn 4 credits this year, you must earn at least $5040
Although we have not officially used the phrase “quarters of coverage” since 1978, many workers still refer to credits as quarters. Prior to 1978, a worker earned a quarter of coverage for any calendar quarter in which they earned $50 or more in Social Security wages. Beginning in 1978, wages were reported to Social Security on an annual basis via the W-2 form. We have no idea when in the year the wages were earned.
In 2003, when a worker earns $3,560 or more, they have earned their 4 credits for the year ($890/credit).
Since a worker only needs 40 credits throughout their working career, it is relatively easy to become insured (vested) for a Social Security Retirement Benefit.
In the year 2003, The Maximum Earnings Taxable is $87,000.
Earning 40 Credits Throughout Your Working Life Will Qualify You for a Benefit

5. Your Age When You Retire Affects Your Benefits
If You’re A Worker and Retire:
At age 62, you get less money permanently
At your full retirement age, you get your full benefit
More $$$$ by waiting to age 70
A wife or husband can only receive a spouse’s benefit if the worker is receiving a benefit, assuming the benefit on their own work record is not higher.
If a spouse is caring for a child under age 16, of the worker, the spouse could qualify regardless of their age. When the youngest child turns 16, the spouse’s benefit will stop, even though the child’s benefit will continue.
A divorced spouse could receive a benefit as long as they were married at least 10 years. It is possible that more than one spouse could receive a benefit, without penalty or reduction, as if they were the only spouse.

6. Things to consider with early benefits
Health insurance
Life expectancy
Can SSA pay others (kids/spouse)
Do you have other pensions, savings, etc?
Are you still working?
Can you afford the permanent reduction of %?
Unemployment? * Taxes?

7. How Work Affects Social Security Benefits - 2016
Withheld/
Age Earnings Limit Above Under Full Retirement Age $15,720($1310/mo.) $1 for every $2
Year of FRA $41,800($3490/mo.) $1 for every $3 (Full Retirement Age – 66 for people born ) Full Retirement Age No Limit
The annual earnings test for beneficiaries under age 65 is determined annually by the average increase in wages in the U.S.
The explanation of the elimination of the annual earnings test can become complicated due to the fact that full retirement age has been increased. For workers turning age 65 in 2001, the explanation is quite simple. They are not affected by the A.E.T. after attaining age 65 because their full retirement age has not changed.
Members of your audience that were born after 1937 have seen their full retirement age increased. For example: A worker born in 6/1939 will attain age 65 in 6/ Since their full retirement age is now 65 and 4 months, they will not reach full retirement age until 10/ They will be subject to the age 65 A.E.T. through 9/ As of 10/2004, the month wage earner attained full retirement age, wage earner is no longer subject to the A.E.T.
The over age 65 amount was determined by legislation in 1996.
In the year 2003, The Maximum Earnings Taxable is $87,000.

8. In Addition to the Retiree, Who Else Can Get Benefits?
Your Spouse (Can receive up to 50% of workers benefit)
At age 62
At any age if caring for child under 16 or disabled
Divorced spouses may qualify Your Child (Each can receive up to 50% of workers benefit) (***Up to the Family Max)
Not married under 18 (under 19 if still in high school)
Not married and disabled before age 22
A wife or husband can only receive a spouse’s benefit if the worker is receiving a benefit, assuming the benefit on their own work record is not higher.
If a spouse is caring for a child under age 16, of the worker, the spouse could qualify regardless of their age. When the youngest child turns 16, the spouse’s benefit will stop, even though the child’s benefit will continue.
A divorced spouse could receive a benefit as long as they were married at least 10 years. It is possible that more than one spouse could receive a benefit, without penalty or reduction, as if they were the only spouse.

9. $1000 - WORKER, $500 - UNINSURED SPOUSE $501+ - SPOUSE’S OWN RECORD
SPOUSE BENEFITS AT FRA
WORKER’S RECORD
$ WORKER, $500 - UNINSURED SPOUSE OR
$ SPOUSE’S OWN RECORD
$300 - SPOUSE’S OWN RECORD
+ $200 - WORKER’S RECORD
$500 - COMBINED BENEFIT

10. What if your not retirement age? Anything else?
Disability benefits possible at any age if you have worked long enough and have any kind of medical condition that could prevent you from working

11. Who Can Get Survivors Benefits?
If You Are a Widow or Widower:
Reduced benefits at age 60
If disabled benefits, as early as age 50
You can get benefits at any age if caring for a child of worker under age 16 or disabled
Divorced widows/widowers may qualify
Remarriage after age 60 (50, if disabled) does not reduce benefits.
If Your Child Is:
18-19 still in HS
Disabled before age 22
You may wish to explain how a widow or widower can receive a survivors benefit at age 60 and then switch to a benefit on their own work record at age 62. Or, how a widow or widower could receive a reduced survivors benefit at age 60 and then file for an unreduced benefit on their own work record at their full retirement age.
Regardless of the change in full retirement age, a widow(er) can still receive 71-1/2% at age 60.

12. Who Can Get Medicare? 65 & older or
Receiving Social Security disability benefits at least 24 months
Permanent Kidney failure and ALS
You may wish to remind your audience that although the full retirement age has been increased above age 65, Medicare eligibility is still at age 65.

13. When Can I Sign Up for Medicare?
Medicare Enrollment Periods:
Initial - at age 65
Special - if still working
General - January-March
The Initial Enrollment Period starts 3 months before the month that you turn age 65 and extends 3 months past the month that you turn 65. If you are not receiving benefits, you should inquire about filing for Medicare 3 months prior to turning age 65 so that your coverage can start the month you turn 65. If you are receiving benefits, you will receive your Medicare card generally about a month before turning age 65, reflecting your Part A and Part B coverage (by far, most people want Part B, even though it's optional).
The Special Enrollment Period is for people (and their spouses) that continue to work past age 65. Since Medicare pays second after their employer group health plan pays first, they are not required to file for Part B. Since Medicare pays second there may be no need for Part B coverage. It is extremely important for workers to check with their employer group health plan for specific guidance. For this reason, they are offered a special period in which to file for Medicare. As a general rule, we can recommend that people file for Part A 3 months prior to turning age 65, and then on the day they stop working call SSA to file for Part B.
The General Enrollment Period is for those people that missed their Initial or Special Enrollment Periods. The window to file is January to March with coverage not beginning until July. If one files in the General Enrollment Period, they will be assessed a 10% penalty for each year after their Initial period.

14. Updates Kiosks at both Toledo offices
Office hours change AGAIN 03/16/15
My Social Security accounts (everyone can sign up)- use for 1099 replacement in Medicare replacement online
DOMA- Supreme Court Ruling
Coming SOON- SSN Cards ONLINE
This slide allows us to remind all potential applicants that we need to see the appropriate proofs when they actually file their claims.

15. Visit Our Website or Call!
You may wish to use this slide as a segway into our online services offered on the next slide.