10 Things You Didn't Know About Social Security

The system is bigger than the economy of most countries. Find out how to maximize your payout

August 9, 2010 RSS Feed Print

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Couples have extra options. Spouses are entitled to Social Security benefits of up to 50 percent of the higher earner's check if that amount is higher than the payments based on his or her own working record. Widows and widowers are entitled to the higher earner's full retirement payout. Dual-earner couples who have reached their full retirement age can even claim twice by first signing up for a spousal payment, then claiming again later based on their own work record (which will then be higher due to delayed claiming). Ex-spouses are also eligible for benefits if the marriage lasted at least 10 years.

[See 6 Ways Couples Can Maximize Social Security Payouts.]

Existing beneficiaries can get a do-over. If you've already signed up for Social Security and received a reduced payout, it's not too late to boost your check. If you pay back the entire amount you have already received from Social Security without interest, you can then qualify for higher payments for the rest of your life.

Social Security numbers have significance. The first three digits of your Social Security number are assigned based on geographical region, with the lowest numbers being assigned in the Northeast and increasingly higher numbers assigned to residents in the West. The middle two digits, called the group number, are allocated in a precise but nonconsecutive order between 01 and 99. The last four digits are issued in a sequential order. Over 420 million unique numbers have been issued and they are not reused after a person's death. Social Security numbers have been assigned shortly after birth since 1989, which makes younger American's Social Security numbers somewhat predictable if you know a person's date of birth and home town, which is common information that young people list on social networking websites, according to research by Alessandro Acquisti, an associate professor of information technology and public policy at Carnegie Mellon University. "Do not offer personal information such as date of birth and hometown publicly," he advises.

Paper Social Security checks will soon be retired. Social Security recipients will be required to collect payments by direct deposit into a bank account or a government Direct Express Debit MasterCard beginning on March 1, 2011. Existing beneficiaries must switch to electronic payments by March 1, 2013. Paperless payments are expected to save $300 million over five years, according to Treasury Department estimates.

[See 12 Ways to Fix Social Security.]

The trust fund has a projected deficit. The Social Security trust fund is currently projected to be sufficient to provide payments until the end of 2037. Then, unless changes are made to the program, there will only be sufficient resources to pay about 78 percent of scheduled benefits. Congress is currently considering a variety of potential fixes, including tax increases, benefit cuts, and pushing back the retirement age. A U.S. Senate Special Committee on Aging report released in May found that relatively minor tweaks could put the trust fund back on sound financial ground for at least 75 more years. "It's a shame that the tone of the 75th celebration is sort of nostalgic," says Berkowitz. "I would hope that the 75th anniversary is not only about how good things used to be, but also about how good things could still be in the future."

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I was married to a railroad man for 13 years had 3 children and because I remarried I can't get a dam cent from him and he never had to pay child support. So I live on practically nothing although I worked all of my life.

norma of AZ 6:09PM May 17, 2013

It burns me up that a person can draw off of an ex spouse because they were married for ten years. I have an aunt and sister drawing off of an ex spouse and they both got to sit home on the rear end enjoying life while I was out working holidays, shift work etc. and missing out on my childrens life. I think the government needs to wake up and stop some of their stupid way of thinking. If you don't work and pay into the system then you shouldn't be entitled to benefits. If you have paid into the system and honestly disable then you should be able to draw benefits, however, there are so many people that hire these big time attorneys that know how to get around the system and people end up drawing disability social security that could still be working. I don't feel it's right that a company is allowed to cut your retirement almost in half when you start drawing social security which is what happened to an awful lot of people working for some major companies that I will not mention but grant you I am quite sure some of you know the companies. I don't feel anything is going to change in Washington! The crooks will continue to be able to beat the system and the rest of us hard working souls will continue to pay!

Faye of GA 7:30PM April 25, 2013

Does Social Security Benefits need some adjustments. I am on social security disability. I do receive the benefits under disability. I do understand that the SSA goes by the length of time one works. I was never given the option to work and put back for retirement. I was detected early in my life to have health issues that prevented me from working. I applied for SSI benefits, and was one of the lucky ones to be approved. I have been receiving these benefits for some years now. I am sure that this comes as no surprise to many but I have only received increases about 4 times. Mr. Obama did give us a one time flat amount of 250.00 dollars. This happened when he was elected the first time. Since then a lot of things have changed in the disability offerings. like doctors, vision, womens health issues. If you have been keeping up with Obamas new SSI bill he has chosen to drop some benefits that will not at all effect middle class or upper class . However it effects us that receive disability and medicaid. Obama wants to cut out the needs of womens health care issues and low income individuals. We run into the problem of no doctor wanting to see us. Sure the different program offered have listings several doctors. yet most of them no longer take the medicaid program, and if you are lucky enough and find a doctor or clinic there is no telling how long you will be able to go there. If you are lucky enough to be placed on a list to see a regular doctor, by the time it comes to you they no longer take medicaide I do live on a fixed income and with some of the health issues that I have. I find that I still have to come out of pocket for certain issues. If i have to have a procedure and need prior authorization, it takes months for medecaid to approve them again a stipulation Obama has placed on medical. I do not receive a lot in ssi disability only the necessary cost of living. I do get food stamps that amount is under 100 dollars. this is suppose to feed me for the entire month. I have tried to receive more waited for hours to be seen only to be told that I received a 20 dollar increase in my check so I do not qualify. well with the slight increase I might have gotten it has already covered another expense. so someone try to figure this out SSi check amount of 710 dollars, food credit of 81 dollars. and medical insurance as it appears. try to pay rent, utilites and paper products not covered with food stamps. believe me there is no room for luxuries. where do I find a place to live, with bills paid under the amount I receive and enough food to last a month. can someone do the math as Obama seem to be having issues with this. Increases that are given are gone before we have a chance to notice we received one. do u think anyone can survive on this? My caregiver receives more from social security weekly than I do in the entire month. please take into consideration not everyone gets the same benefits as the low income. some have no choice being on it.

Debra Larrison of TX 10:18AM March 29, 2013