58 million people Who Gets Benefits from Social Security? 37.9 million Retired Workers 2.9 million Dependents 8.9 million Disabled Workers, 2.1 million Dependents 4.3 million Widows/ Widowers 1.9 million Dependent Children of Workers

A Foundation for Planning Your Future

Your Age When You Retire Affects Your Benefits If You’re A Worker and Retire: At age 62, you get less money permanently At your full retirement age, you get your full benefit You get even more money if you wait past your full retirement age

Full Retirement Age If you were born between 1943 and 1954 Your full retirement age is 66 If you were born between 1943 and 1954 Your full retirement age is 66

How Social Security Determines Your Benefit Social Security benefits are based on earnings Step 1Your wages are adjusted for inflation Step 2Find the average of your 35 highest earnings years Step 3Result is “average indexed monthly earnings”

If You Work AND Receive Benefits … 8 IF YOU AREYOU CAN MAKE UP TO IF YOU MAKE MORE, SOME BENEFITS WILL BE WITHHELD UNDER FULL RETIREMENT AGE $15,720/yr ($1310/mo) $1 FOR EVERY $2 THE YEAR FULL RETIREMENT AGE IS REACHED $41,880/yr ($3490/mo) $1 FOR EVERY $3 MONTH OF FULL RETIREMENT AGE AND BEYOND NO LIMIT earnings limit calculator… go online

In Addition to the Retiree, Who Else Can Get Benefits? Your Spouse Your Child At age 62 At any age if caring for child under 16 or disabled Divorced spouses may qualify Not married under 18 (under 19 if still in high school)‏ Not married and disabled before age 22

Who Can Get Survivors Benefits? Reduced benefits at age 60 If disabled as early as age 50 At any age if caring for child under 16 or disabled Divorced widows/widowers may qualify Not married under age 18 (under 19 if still in high school)‏ Not married and disabled before age 22 If Your Child Is: Widow or Widower:

Who Can Get Disability Benefits? Worker At age 62 Must have paid into Social Security five out of last 10 years At any age if caring for child under 16 or disabled Divorced spouses may qualify Spouse Child Not married under age 18 (under 19 if still in high school)‏ Not married and disabled before age 22

65 & older OR Receiving Social Security disability benefits at least 24 months OR Permanent Kidney failure OR Amyotrophic Lateral Sclerosis (ALS)‏ Who Can Get Medicare?

Medicare Coverage and Premiums 13 PARTDESCRIPTIONPREMIUM AHOSPITAL INSURANCEFREE for most workers BMEDICAL INSURANCE2015: $104.90* base premium; Covers 80% doctor bills & other outpatient medical expenses CADVANTAGE PLANS or a 20% supplemental plan Varies depending on coverage needs DPRESCRIPTION DRUG COVERAGE Varies depending on state and coverage needs Senior Linkage Line * May be more for higher income individuals – only affects 4% of total Medicare beneficiaries

When Can I Sign Up for Medicare Part B? Initial – at age 65 Special – if still working General – January-March Medicare Enrollment Periods: 62 What if I am age 65 and still Working….. If you are age 65 or older, and you or your spouse are still working and you are covered under a group health plan based on current employment, you may not need to apply for Medicare Medical Insurance (Part B) at age 65.group health plan You may qualify for a "Special Enrollment Period" (SEP) that will let you sign up for Part B at at a later date with No Penalty. (page 12 Medicare booklet) SEP offers you an eight-month period to sign up that begins with the month after your group health plan ends or the current employment it is based on ends, whichever comes first. CMS – L564 employer verification SSA - 40B application for Medicare

Your Online Account... Your Control... my Social Security my

my Social Security Account…. Get your Statement here !  Estimates of the retirement and disability benefits you may receive;  Estimates of benefits your family may get when you receive Social Security or die;  A list of your lifetime earnings according to Social Security’s records;  The estimated Social Security and Medicare taxes you’ve paid;  Information about qualifying and signing up for Medicare; and  A printable version of your Social Security Statement.

 Apply online at It is the most convenient way to apply  Call Social Security to schedule an appointment  Apply at your local Social Security office How Do I Apply for Retirement Benefits?