November 22, 2020

Ssi Payment Schedule 2020

Ssi Payment Schedule 2020 hello everyone we recently did a video about Medicare and immigrants we get many calls about that and I hope that it helped to answer some of, your questions we also receive many questions about Social Security from people who have immigrated to the United States and today we are going to answer those questions for you in. This video my name is Renuka Hana I have an. Office in Lawrenceville Georgia and provide immigration is there planning and family law services to my clients I mean I clear my marketing and.

Office manager is here with me and we really appreciate all your likes shares and comments as they help others see, our videos will you explain what social security is yes it is. A federal government program in United States that provides a monthly income for people who fall into certain categories what are those categories, they include retired workers people with disabilities spouses or children of disabled workers or people who have done and about how, many people receive Social Security one in five Americans do these can be broken down into 47 million retired workers and their, descendants had 10 million disabled workers and their dependents and 6 million survivors of deceased, workers and we should point out that SSI or Supplemental Security income and Social Security are different yes there are three. Types of payments that people seem to confuse first SSI is for people who are disabled who may have never worked or who haven't worked enough to obtain SSDI which is Social Security disability, insurance the second is SSDI Social Security disability insurance which is for people who worked.

And are now disabled and.

Then the third one is Social Security which doesn't require someone to have a disability yes just like Social Security payments are funded through taxes SSDI is as well right that's right people. Who get SSDI have worked for a number of years and pay FICA that comes from Federal Insurance, Contributions Act Social Security taxes then went into a trust fund people who receive Social Security SSI usually. Haven't paid enough in taxes to receive this and are also eligible for Medicaid and food stamps how is an individual Social Security payment determined it is, based on how much they have. Earned over their life the age they start receiving the benefits or if they are going to receive Social Security because of a spouse working rather than their own work history this is a tip for anyone thinking. They will use Social Security to live on when they are older the longer. You can put off receiving Social. Security the bigger D amount will be how young can you be you can start receiving it at age 62 but if you wait until age 70 the amount received will, be beer how many people say that Social Security money will run out for they're old enough to get it can you talk about that this is a very. Convoluted discussion basically people who. Are paying taxes into the trust fund now are funding those who are receiving payments in order to have the money to pay people in the future there must, be future workers paying into the fund at, that time people are having fewer children or are living the United States so there are more people expected to meet the funds.

When then we'll be paying into the fund so unless the Congress passes laws for more taxes the funds won't have enough to cover all.

The payments which means they will probably reduce the distribution amounts remaining people say that the government has taken money from Social Security and that's that's, making it so they won't.

Be able to pay retirees how does that happen since Social Security was started in the 1930s the taxes paid are put into a special fund which.

Is also which also collects interests from the money in there so this means, that the fund holds about 2.3 trillion dollars at this time Congress has borrowed from this money but they are also required to pay back with interest and people are always concerned about illegal immigrants receiving Social, Security but they can't can they no they are not able to collect Social Security too they although, they do pay taxes on their income which goes into, the Social Security Fund in 2010 Social Security received 12 billion from undocumented workers and their employers and while we don't address. Disability payments can you tell us if legal immigrants receive Social Security they can so we're talking about legal immigrants that, is one reason it is important to get a social security. Card as soon as you are eligible moreover you must pay taxes credited to your Social Security card for an acquired length of time in order to obtain Social Security how long do you, need to pay taxes in order to be eligible anyone who receives Social Security worked for 40 credits or 10 years.

With four credits being the maximals you could earn every year so if you are a green card holder or naturalized citizen, you can get Social Security yes, as long as you meet the required time working you can apply for Social Security so if you did it work in the united states for.

Ten years you don't qualify some legal immigrants may qualified the United States has social, security agreements which are also called totalization agreements with 26 countries if you worked in one of those countries you can combine the credits earned in that. Country with those you earn in the United States as long as you earn six credits in the United States the agreement with each country is different so, it would be wise to speak to an advisor familiar with your country. And social security about it if you were to qualify and what about if you leave the. United States does that impact your right to Social Security it can the credits, you earn are permanent to yours but if you leave the.

Leave a Reply

Your email address will not be published. Required fields are marked *