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Social Security's Future: Q&A
There is an important national discussion going on concerning the future of Social Security. Below are answers to some of the most frequently asked questions:
Social Security Benefits |
Q: I am retired and receiving a monthly check from Social Security. Are my monthly payments going to be cut? A: No, there are no plans to cut benefits for current retirees. In fact, benefits will continue to be increased each year with inflation. Q: I'll be retiring in the next five to 10 years. Can I expect my presently scheduled benefits to be paid to me at retirement?A: Many reform plans, including those put forth by the President's Commission to Strengthen Social Security, preserve scheduled benefits, including cost- of-living increases, for near-retirees. Depending on the proposal, a "near-retiree" is defined as someone aged 50 to 55 and older. |
Q: My parents are receiving Social Security payments. Should I be worried that their monthly checks will be cut and that I will have to make up the difference?
A: No, there are no plans to reduce benefits for current retirees. In fact, benefits will continue to grow annually with inflation.
Q: I am receiving disability benefits from Social Security. Should I be worried that my monthly check will be cut?
A: Most plans, including those put forth by the President's Commission to Strengthen Social Security, do not reduce the benefits of currently disabled beneficiaries.
Q: I'm 35 years old. If nothing is done to improve Social Security, what can I expect to receive in retirement benefits from the program?
A: Unless changes are made, at age 73 your scheduled benefits could be reduced by 27 percent and could continue to be reduced every year thereafter from presently scheduled levels. See the Trustees Report
FAQs
- How does an employee file a claim for benefits?
- What are Employee Retirement Income Security Act (ERISA)'s funding requirements?
- When is a worker eligible for overtime pay?
- Does the law require employers to provide pensions?
- How is the overtime pay rate computed?
Employees' Rights Resources
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