Who is Eligible for Social Security?
Social Security is a guaranteed income that provides for more than 47 million retirees in the US; that is family members of workers who died and those who have disabilities.
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In addition, Social Security is an income that helps to keep many from a poverty type of existence. Those who receive Social Security benefits have earned those benefits by paying into the system through their work years.
Eligibility for Social Security
Those who are eligible for social security benefits depend on the worker’s payroll tax contributions. Almost every worker in the United States is required to contribute to the Social Security program. In addition, those who are legal aliens who work and contribute to Social Security for at least ten years, are eligible for pension benefits, but not until they reach the minimum retirement age. Also, survivor and disability benefits also require a certain amount of work credits. If one wants to be qualified as disabled, that person must have a terminal or prolonged condition and cannot earn more than $810 a month.
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A worker’s spouse, children, and parents may also qualify for Social Security benefits based on the worker’s contribution history. Also, thoses under the age eighteen or those severely disabled and over the age of eighteen, spouses, and spouses caring for young children are usually eligible for benefits. In addition, the parents of a deceased worker may be eligible for survivorship benefits if they have been financially dependent on the child for at least half their support.
Summary of Requirements
When it comes right down to it the following requirements for social security must be met: be a US citizen, contribute to social security during work, be a surviving dependent, be a child who is supporting a senior parent, or be an ex-spouse.
Facts About Social Security
Social Security has worked well for years but currently there are deep problems and concerns with it. For instance, the social security system now in place is not fiscally sound for the upcoming years. The problems with social security will kick into gear once the baby boomer generation reaches retirement. Many are now wondering if social security will be there when they retire.
Plans to Rejuvenate
Plans on how to revise and upgrade this system and to keep it going are currently in progress such as cutting benefits, increasing payroll taxes and seeking other sources of revenue. Some even advocate a complete remake of social security.
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