J&P
Sverige / USA
J&P

Social Security SS

General Research

Average, Stats

COLA – Cost Of Living Adjustment

International

Mistakes –

 

4 Social Security mistakes that can cost you thousands of dollars. Here’s what to know. Nov 16, 2023. cbsnews.com/detroit/news/social-security-benefits-mistakes-how-to-protect-yourself/?intcid=CNM-00-10abd1h

  1. Claiming too early
  2. The “widow’s scam”
  3. The “earnings test” scam
  4. The overpayment trap

My Social Security Account

Spouse

Taxation of Social Security

Main article is jandp.biz/inv/finplan/skatter/

 

Warnings / Concerns

General search: google.com/search?q=shortfalls+of+social+security

Shortfall of Funds…

SSA Making Mistakes(!)

  1. CBS 60 Minutes Season 56, Episode 8, Nov 8, 2023 (Nov 5?, 2023, on TV
Area / Subject To Think About We (How we are doing, Jan 2024)
(1) “Let’s start with”, your annual social security statement (about 00:47 / 06:19 into video)
  • Check income records are correct
  • Report any errors “immediately”
  • Bug SSA until get response
  • Keep track on all communications
 Yes, doing this continuously, every year for decades. (Verifying i.e., no errors found yet). We Are Good.
(2) When to claim (01:40 / 06:19
  • Use calculators to optimize when to start draw SS, for you, and your spouse.
 Yes, been using calculators for a long time, part of the long-term plans been keeping for years. We Are Good.
(3) Time to SSA to realize mistakes can take years (…) (02:08)
  • ‘Calculators are planning tools but they can also help finding mistakes, things that are not correct’. I.e. USE calculators.
 Yes, we DO use calculators. We Are Good.
(4) If have received, receive, Social Security Disability Benefits (02:32)
  • DANGER! DANGER! THIS is a big reason people are being overpaid!!!
 N/A. We Are Good.
(5) Assuming SSA knows what they are doing (03:00)
  • WARNING! Do NOT assume they do know.
  • Nor that they have taken any communications you send to them into actual consideration.
 Ok, this one is crazy, really.
But, in our case, feel confident in all things so far. And aim for the future is also to keep rather up to major potential hurdles, pitfalls.
We Are Good.
(6) If work in a public sector job that does NOT pay into federal social security (e.g. teachers, firefighter), part of what’s called a non-covered pension plan, i.e. instead of paying into SS you’re paying into a pension plan run by a state or local government (03:33)
  • When retire, HAVE to inform SSA about there non-covered pension plan money you are getting, if not, and getting money from some other job that you have been paying SS on, you may end up with an overpayment problem.
 N/A. (And Have verified – Jan 2024 – that also incomes from local and state gov bodies HAVE included payments into SS. I.e. NO non-covered pension plans applies.)
We Are Good.
(7) Disability benefits and Workers Comps (04:00)
  • WARNING! Must tell SSA about workers comp.
 N/A. We Are Good.
(8) Among the largest source for overpayments: Supplemental Security Income (SSI) program (04:11)
  • The rules are particularly complicated.
    (E.g. ‘if homeless and sleeps on a friends coach, you have to declare the value of that couch.’ Whaaaat?!?
 N/A. We Are Good.
(9) Medicare Part D (04:38)
  • If have low-income subsidies, …
 N/A. We Are Good.
(10) Finding legal aid, any lawyers (05:00)
  • Can be really difficult
 N/A. We Are Good. For now.
(11) Some people are being underpaid (05:23)
  • Know what to expect, inform SSA as soon as possible of any discrepancies.
 Well, we’ll see when the time comes.
Book “Social Security Horror Stories”, by Kotlikoff & Savage (06:00)
  • More information
 (Hoopla, e.g., has it – as audiobook: hoopladigital: social-security-horror-stories-laurence-j-kotlikoff/16395060)
A final take-away for this (06:05)
  • Don’t take anything around social security for granted.
 Have been diligent keeping track so far. Will continue to do.
We Are Good. For now.

Resource for help:

  • nosscr.org – The National Organization of Social Security Claimants’ Representatives (NOSSCR) is a specialized bar association for attorneys and advocates who represent Social Security Disability Insurance and Supplemental Security Income claimants throughout the adjudicative process.