Tuesday, April 18, 2017

National Social Security Month

“No greater tragedy exists in modern civilization than the aged, worn-out worker who after a life of ceaseless effort and useful productivity must look forward for his declining years to a poorhouse. A modern social consciousness demands a more humane and efficient arrangement."
—President Franklin Delano Roosevelt (February 28, 1929)

In 1935, President Roosevelt signed the Social Security Act. The aim was to help those in need of financial assistance, and over the decades the legislation has kept millions of Americans afloat—particularly older people and the disabled. Without the aid of programs, like Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI), multitudes of people would needlessly suffer. Even those who are not struggling with a disability rely heavily on Social Security, benefits that people can begin to collect at 62-years of age.

Social Security is used in reference to the federal Old-Age, Survivors, and Disability Insurance (OASDI) program, according to the Social Security Administration (SSA). Whether you work for a company, or are self-employed, some of the taxes you pay every year go towards social security. Funds that can be drawn from later in life, when one’s ability to work or desire to work diminishes. While Social Security benefits can greatly help, it is important to keep in mind that such benefits only replace approximately 40 percent of pre-retirement earnings.

Now, 82-years since FDR made Social Security the law of the land, the Nation is being asked to observe the first National Social Security Month. Nancy A. Berryhill, Acting Commissioner of Social Security is asking Americans to takes steps to ensure their financial security, according to an agency press release. Throughout the month of April, the SSA will be providing advice for “developing a sound financial plan that includes Social Security as a foundation.”

On April 20, 2017—Social Security will participate in a Facebook Live Chat, hosted by USA.gov, at 7:00 p.m. ET. At which time, you, the public, may ask questions about the “5 Steps Toward Financial Security.” Those steps include:
  • Get to know your Social Security
  • Verify your lifetime earnings with a my Social Security account
  • Estimate your future Social Security benefits at my Social Security
  • Apply online for retirement, disability, or Medicare benefits
  • Manage your Social Security benefits
If you would like to be involved, all you have to do is follow USA.gov and Social Security on Facebook.

“With retirement, disability, and survivors benefits, Social Security helps secure today and tomorrow for millions of people throughout life’s journey,” Acting Commissioner Berryhill said. “By hosting National Social Security Month, we hope to help the public understand their Social Security protections and promote financial education.” 

At Driscoll Law, we are committed to helping you get the social security benefits you require. We would like to ask our readers to take some time this month to observe the first National Social Security Month, and have an active role in your financial security which we all rely heavily on in our golden years.

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