1. Providing guidance and assistance to the American public in making decisions on their Social Security eligibility and continuing Social Security issues. Stan Fromuth & Joe Olenski www.socialsecurityretirementconsultants.com

2. Qualifications – Stan Fromuth & Joe Olenski Former employees of the Social Security Administration Retired with 76+ years of service with agency Regarded as program and policy experts on Social Security issues Both involved in writing and interpreting Social Security policies and procedures Both spent many years as District Managers working directly with public on Social Security issues and problems

3. Why do people need assistance and guidance in making decisions related to Social Security? 1.Social Security programs are very complex 2.Avalanche of baby boomers becoming eligible for Social Security benefits is overwhelming the Social Security Administration 3.Changes in Social Security Regulations make it more difficult for applicants/beneficiaries to amend their decisions 4.YOU MAY LOSE A SIGNIFICANT AMOUNT OF MONEY IF YOU FAIL TO MAKE THE BEST DECISIONS

4. Benefits Administered By SSA

5. Sources for Additional Information Social Security Website-www.socialsecurity.govwww.socialsecurity.gov Medicare Website-www.medicare.govwww.medicare.gov SSA’s National 800#-1-800-772-1213 Medicare’s National 800#-1-800-633-4227

6. Benefits Administered by the Social Security Administration Social Security Cash Benefits Supplemental Security Income Cash Benefits Medicare (limited involvement)

7. Types of Social Security Benefits Retirement Benefits Disability Benefits Spouses/Divorced Spouses Benefits Widows/Widowers and Divorced Widows/Widowers Benefits Mothers/Fathers and Divorced Mothers/Fathers Benefits Childrens Benefits Parents Benefits Lump Sum Death Benefit

8. Retirement Benefits Must have attained retirement age – at least age 62 Must be insured for benefits Must be retired within the meaning of the Social Security Act Amount of the benefit depends on how much you contributed to the Social Security during your lifetime

9. ‘Retired’ Within the Meaning of the SS Act You do not need to stop working to be considered “retired” for Social Security purposes Social Security has set up certain income limits to determine if or to what extent an individual is retired The income limits depend on your age

10. Disability Benefit Must be disabled and unable to work Disability must be expected to last at least one year or result in death You must be insured for Social Security benefits You must have a current attachment to employment Amount of the benefit depends on how much you contributed to the Social Security benefit during your lifetime

11. Spouses Benefits Payable to the spouse of a wage earner who is entitled to retirement or disability benefits Spouse must be at least age 62 or have a child of the wage earner in his/her care. That child must be under age 16 or be disabled Must be married to the wage earner for at least 12 months or married to the wage earner and be the parent of the wage earner’s biological child Amount of the benefit is equal to 50% of the wage earners unreduced benefit. (Reduced for age if the spouse is collecting based on age and is under full retirement age)

12. Divorced Spouses Benefits Divorced spouse must be at least age 62. No benefit payable for child in care Wage earner must be entitled to retirement or disability benefits (EXCEPTION: Independently entitled divorced spouse provision) Must have been married to the wage earner for at least 10 years Be unmarried Amount of the benefit is equal to 50% of the wage earners unreduced benefit. (Reduced for age if the spouse is under full retirement age).

13. Widows/Widowers Benefits Benefits payable to the surviving spouse of a deceased wage earner. Surviving spouse must be at least age 60. (age 50 if disabled) Surviving spouse must be unmarried. Remarriages after age 60 do not affect eligibility. Must be married to the wage earner for at least 9 months OR must be married to the wage earner and be the parent of the wage earner’s biological child. Benefit amount depends on the age of the widow. At FRA, the widow receives the same amount the deceased was receiving. If the deceased died before filing for benefits, the widow/widower receives the deceased’s full, unreduced benefit amount at FRA. Benefits claimed prior to FRA can be reduced for age.

14. Divorced Widows/Widowers Benefits payable to the surviving divorced spouse of a deceased wage earner Same age requirements as widows and widowers Marriage to the wage earner must have lasted at least 10 years Divorced spouse must be unmarried. Remarriage after age 60 does not affect eligibility. Benefit amount is the same as widows/widowers.

15. Mothers/Fathers Benefits and Divorced Mothers/Fathers Benefits Benefits payable to surviving spouse of a deceased wage earner if the surviving spouse has a child of the wage earner in his/her care. The child must be under age 16 or disabled. The surviving spouse must be unmarried. Remarriage bars entitlement or terminates entitlement to benefits. The amount of the benefit is equal to 75% of the deceased unreduced benefit amount.

16. Children’s Benefits Payable to the children of retired and disabled workers who are entitled to benefits and to the children of deceased workers. Child must be under age 18 OR under age 19 and still in high school OR disabled prior to attaining age 22 Amount of the benefit for the child of a retired or disabled worker is 50% of the workers unreduced benefit Amount of the benefit for the child of a deceased worker is 75% of the workers unreduced benefit

17. Parents Benefits Benefits may be payable to the parent of a deceased wage earner. The parent must be at least age 62. The parent must have been receiving at least ½ support from the wage earner. The amount of the parents benefit is 82.5% of the deceased wage earners unreduced benefit.

18. Lump Sum Death Payment A one time payment of $255 payable on the account of a deceased worker. Payable to the surviving spouse who was living with the wage earner at the time of his/her death. If no living with spouse, benefit payable to a spouse entitled to monthly benefits on the deceased wage earners account. If no eligible spouse, the benefit is payable to children eligible for cash benefits on the wage earners account. If no eligible spouse or child, no death benefit payable on the account.

19. Other Issues Relating to Monthly Benefits Multiple Entitlements – receive only the amount of the highest benefit Family Maximum Limitation and Divorced Spouse Affect on Family Max Deemed Filing for Reduced Benefits No Deemed Filing at FRA provided individual is at least 62 before January 2, 2016 Independently Entitled Divorced Spouses No Deemed Filing In Widows/Widowers Claims File and Suspend

20. Same Sex Benefits Benefits for same sex couples are the same as benefits for heterosexual couples.

21. Filing for Benefits 4 months prior to entitlement On-line Face-to-face at local office By phone Make an appointment! Call 1-800-772-1213

22. How to obtain information and/or contact the Social Security Administration www.socialsecurity.gov 1-800-772-1213

23. Medicare Benefits Eligibility  At Age 65  Twenty-four months after disability benefits begin  Chronic Renal Disease or ALS Part A – Hospital Part B – Doctors Part D – Prescription Drugs

24. SSRC & Q A

25. www.socialsecurityretirementconsultants.com