Q & A
What’s the best way to find out if I might be eligible for SSI?
Answer: Our online Benefit Eligibility Screening Tool will help you find out if you could get benefits that Social Security administers. Based on your answers to questions, this tool will list benefits for which you might be eligible and tell you…
Who is eligible for Supplemental Security Income?
Answer: People who receive SSI are age 65 or older, blind or disabled with limited income and resources. Go to www.socialsecurity.gov for income and resource limits. The general fund of the United States Treasury makes SSI payments. They do not come…
My parents recently moved into a retirement community and they are signing their house over to me. Can I still get Supplemental Security Income (SSI) or will homeownership make me ineligible?
Answer: You can own a home and still receive SSI as long as you live in the home you own. In most cases, when determining SSI eligibility we don’t count as a resource the home you own and live in or the…
How soon can I apply for a Social Security number as a J-1 exchange visitor working in the United States?
Answer: Before you apply for a Social Security number and card, we suggest you: Be in the United States for at least 10 day; and Report to your program sponsor (You must be in active status for at least two…
How can I get a new Medicare card?
Answer: If your red, white and blue Medicare card is lost, stolen or damaged, you can request a new one at www.socialsecurity.gov. However, you can use our online application only to request a Medicare card. If you need a Medicaid…
Calculating the “break-even point” on early Social Security sign-up–how do you factor in the probabilities?
Full Question: I am continually concerned that you and others keep telling people who are eligible for Social Security to delay taking the benefits. Here is how I figure it. I take my Social Security benefit at $1,230 a month. At…
Do I have to pay taxes on my annuity if I went off work on disability retirement?
Answer: Yes, you do. Source: Reg Jones, FederalTimes.com, January 22, 2013
My wife and I are going to do an addition to our house. We’re both 45 years old and have plenty of equity to support $400,000 of borrowing. I was thinking of borrowing from our 401(k) plans. We could pay the interest back to ourselves. My wife is concerned that we will lose the tax deduction and, if something happens, we have no retirement. What are your thoughts?
Answer: Listen to your wife; she’s clearly a wise woman. Borrowing from a 401(k) plan almost never makes sense. It’s an emergency step, not something for daily life. As a practical matter, the interest rate on home equity credit lines…
I got a letter from the National Association of Retiring Federal Employees stating, “Federal agencies are now re-employing federal retirees on a limited part-time basis without an offset to their annuity.” Can you explain this a little further? How would I find and apply for one of these positions?
Answer: Section 112 of Public Law 111-84 effective Oct. 28, 2009, allows a federal agency to hire a retiree and waive the offset between a salary and an annuity. These temporary appointments for a year or less can be made if…
If I take early retirement and still work, will my benefits continue to be reduced because I retired at age 62?
Answer: Social Security will review the age 62 reduction factor when a person reaches full retirement age. At that time, we will determine if there is any month a benefit was not paid because of earnings that exceeded the annual earnings test…