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The United States Social Security Administration ( SSA) [2] is an independent agency of the U.S. federal government that administers Social Security, a social insurance program consisting of retirement, disability and survivor benefits. To qualify for most of these benefits, most workers pay Social Security taxes on their earnings; the claimant ...
In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance ( OASDI) program and is administered by the Social Security Administration (SSA). [1] The Social Security Act was passed in 1935, [2] and the existing version of the Act, as amended, [3] encompasses several social welfare ...
You can apply for Social Security benefits online, by phone at 1-800-772-1213 (TTY 1-800-325-0778), or in person at your local Social Security office (appointments are recommended). You should ...
The Social Security Administration collects payroll taxes and uses the money collected to pay Old-Age, Survivors, and Disability Insurance benefits by way of trust funds. When the program runs a surplus, the excess funds increase the value of the Trust Fund. As of 2021, the Trust Fund contained (or alternatively, was owed) $2.908 trillion. [4]
The Social Security Administration will start sending out 2023 cost-of-living adjustment (COLA) notices by mail throughout December. Starting Jan. 1, Social Security benefits will increase by 8.7%.
The Social Security Administration"my Social Security" portal allows you to apply for and manage all of your Social Security benefits online. See: 5 Things Most Americans Don't Know About Social...
The Social Security Act was enacted August 14, 1935 (88 years ago). The Act was drafted during President Franklin D. Roosevelt's first term by the President's Committee on Economic Security, under Frances Perkins, and passed by Congress as part of the New Deal.
The maximum benefit depends on the age you retire. The SSA provides this example: If you retire at full retirement age (67) in 2023, your maximum benefit would be $3,627. However, if you retire at ...