Social Security

Question 1

Approx. ___ of all workers are covered under SS

Answer 1

96%

Question 2

More than _ of 10 workers age 65 or older receive SS

Answer 2

9

Question 3

Who does SS cover?

Answer 3

• most private sector employees
• most self-employed
• members of the US armed forces

Question 4

Who does SS exclude?

Answer 4

• Federal employees hired before 1984
• certain state and local employees
• railroad employees covered under the railroad retirement ststem

Question 5

4 types of SS benefits

Answer 5

1. retirement
2. disability
3. spouse’s benefit
4. survivor’s benefit

Question 6

Most SS benefits require a person to be ___ insured or _____ insured

Answer 6

fully; currently

Question 7

How does a person become insured?

Answer 7

by acquiring a certain number of quarters of coverage

Question 8

What does the number of quarters of coverage determine?

Answer 8

• full insured status
• currently insured status
• insured status for establishing disability

Question 9

What is a quarter

Answer 9

a calendar quarter ending Mar 31, June 30, Sept 30 and Dec 31

Question 10

What do quarters NOT determine?

Answer 10

the size of SS benefit

Question 11

An individual can aqcuire quarters before age ___ or after ____

Answer 11

21; retirement age

Question 12

Fully insured requirements (3)

Answer 12

1. at least 6 quarters of coverage
2. Has aquired at least as many quartes of coverage as years elapsing after 1950 OR (if later) AFTER the year in which he reaches 21 AND BEFORE he dies or reaches age 62 (whichever comes first)
3. has 40 quarters of coverage

Question 13

What benefits do fully insured workers receive?

Answer 13

retirement and disability benefits

Question 14

Currently insured requirement

Answer 14

Worker has acquired at least 6 quarters of coverage during the full 13 quarter period ending with the calendar quarter in which a person dies, becomes entitled to disability benefits, or retirement benefits

Question 15

If a worker is currently insured at the time of death, family members can receive: (3)

Answer 15

1. child benefits
2. mother or father’s benefits
3. lump sum death payment

Question 16

Benefits for a surviving spouse age 60 or over and benefits for a dependent parent are only payable if the worker was _____ at death

Answer 16

fully insured

Question 17

Worker Retirement Benefits Requirements (3)

Answer 17

1. fully insured
2. at least age 62 throughout the first month of entitlement
3. filed an application for retirement benefits

Question 18

Reduced benefits are available beginning at age ____

Answer 18

62

Question 19

Worker Disability Benefit Requirements (5)

Answer 19

1. is insured for disability benefits
2. under age 65
3. has been/expected to be disabled for at least 12 months
4. has filed an application for benefits
5. has completed a five month waiting period or is exempt from waiting period

Question 20

Do family benefit limits for a disabled worker differ from the family benefit limits for a retiring worker?

Answer 20

yes

Question 21

An individual is entitled to a spouse’s benfits under a worker’s SS record if….

Answer 21

• the worker was entitled to retirement or disability benefits
• spouse filed an application for spousal benefits

Question 22

A spouse is NOT entitled to retirement or disability benefits of a worker if….

Answer 22

• the spouse’s primary insurance amount is greater than 1/2 the worker’s
  AND
  -spouse is either age 62
  OR
• cares for a child under age 16, or who is disabled and entitled to benefits

Question 23

A spouse of a worker must also meet ONE of what conditions?

Answer 23

• was married to the worker for more than 1 year before applying for benefits
• be the natural mother or father of a worker’s child

Question 24

Surviving spouse’s entitled to mother or father’s benefits if: (6)

Answer 24

1. is caring for a child under 16 or one who is disabled before age 22
   - child must be survivor’s own or adopted
   - surviving spouse is unmarried
   - no widow/widower’s benefit is available
   - no retirement income available greater than mother’s or father’s benefit
   - application is filed

Question 25

How much is the survior spouse’s mother or father benefits equal to?

Answer 25

75% of the deceased spouse’s PIA

Question 26

“Black out” period

Answer 26

time period after youngest child no longer elgible for benefits (>16) and surving parent is not yet old enough for widow benefits

Question 27

Widow or widower entitled to survivor benefits if it meets one of the following conditions….. (3)

Answer 27

• was married for at least 9 months prior to the deceased worker except in the case of a worker’s accidental death or if it occurred in the line of duty while a member of a uniform service serving on active duty
• is the biological or adoptive parent of a deceased’s workers child < 18
• is entitled or potentially entitled to dependent benefits

Question 28

If the surviving spouse is the NRA or older when these benefits begin, the surviving spouse’s benefit will equal what?

Answer 28

100% of the deceased worker’s PIA

Question 29

Child Survior Benefit Requirements (5)

Answer 29

• Must meet the relationship requirements of a fully or currently insured deceased worker
• Must be < 18, or > 18 and disabled before age 22, or < 19 and a full-time elementary or secondary student
• Is not married
• Is dependent upon a deceased parent
• Has filed an application for these benefits

Question 30

What are Cost of Living increases?

Answer 30

• Automatic
• Determined by increases in Consumer Price Index for “All Urban Wage Earners and Clerical Workers” as prepared by the U.S. Department of Labor

Question 31

Delayed Retirement Credit

Answer 31

Workers who continue on the job receive an increase in retirement benefits for each year worked from age 65 to 70