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#1 (permalink) |
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Military Professional
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Possible Social Security Increase
There was a law passed that could increase WW ll & Korean Vets Social Security payments. I inquired through Social Security's 800 number and got the normal run-a-round. I then emailed my query to SS and received this answer.
It could add some bucks to your monthly checks! Thank you for your inquiry. Since 1957, if you had military service earnings for active duty (including active for training), you paid Social Security taxes on those earnings and they are on your record. Inactive duty service in the Armed Forces reserves (such as weekend drills) has been covered by Social Security since 1988. People who served in the military before 1957 did not pay into Social Security directly, but when they apply for benefits, their records are credited with special credit for some of their service that count toward any benefits that might be payable. Under certain circumstances, special earnings for periods of active duty can be credited to your military pay record for Social Security purposes. These extra earnings may help you qualify for Social Security or increase the amount of your Social Security benefit. For military earnings from 1968 to the present, these were included when we prepared the benefit estimates for your Statement. However, they are not displayed in the year-by-year list of earnings on page 3 of your Social Security Statement. Extra credits for military service from 1941 - 1967 will be added when you actually apply for benefits and provide proof of that service. How Special Military Service Credits Are Granted Note: Change in military service credits In January 2002, Public Law 107-117, the Defense Appropriations Act, stopped the special extra earnings that have been credited to military service personnel. Your military service in calendar year 2002 and future years no longer qualifies for these special extra earnings. The information that follows applies only to your military service earnings from 1940 through 2001. Service From 1978 Through 2001 For every $300 in active duty basic pay, you are credited with an additional $100 in earnings up to a maximum of $1,200 a year. However, are only credited if you have not earned the maximum wage base for the year. If you began your service after September 7, 1980, and didn’t complete at least 24 months of active duty or your full tour, you may not be able to receive the additional earnings. Check with Social Security for details. Credits For Service In 1957 Through 1977 You are credited with $300 in additional earnings for each calendar quarter in which you received active duty basic pay. Service In 1940 Through 1956 If you were in the military during this period, including attendance at a service academy, you did not pay Social Security taxes. However, under the following circumstances, your Social Security record may be credited with $160 a month in earnings for military service from September 16, 1940, through December 31, 1956: -- you were honorably discharged after 90 or more days of service, or you were released because of a disability or injury received in the line of duty; or -- you are still on active duty; or -- you are applying for survivors benefits and the veteran died while on active duty. You cannot receive these special earnings credits if you’re already receiving a federal benefit based on the same years of service. There is one exception to this rule, however; if you were on active duty after 1956, you can still get the special earnings for 1951 through 1956, even if you’re receiving a military retirement based on service during that period. You can get both Social Security benefits and military retirement. Generally, there is no offset of Social Security benefits because of your military retirement. You’ll get your full Social Security benefit based on your earnings. However, Social Security survivors’ benefits may affect benefits payable under the optional Department of Defense Survivors Benefit Plan. Check with the Department of Defense or your military retirement advisor for more information. If you have health care protection from the Department of Veterans Affairs (VA) or under the TRICARE (formerly CHAMPUS) or CHAMPVA program, your health benefits may change or end when you become eligible for Medicare. You should contact the Veterans Administration, the Department of Defense, or a military health benefits advisor for more information. The Internet address for information about TRICARE or for a military health benefits advisor follows: Welcome to TRICARE.mil For information about the Veterans Administration, access the Internet address below: U.S. Department of Veterans Affairs Our publication, “Military Service and Social Security,” publication number 05-10017, is available online at the following Internet address: Military Service And Social Security
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Hamp USS LCI (L) & (G) 450 WW ll Gator Navy |
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#3 (permalink) |
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Military Professional
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Social Security
Now hear this, now hear this!
I checked into Social Security and found when a person applies to start drawing Social Security, they are asked to list all military service and it's entered into your records, if you are entitled to credit mentioned in post above, it's added to your monthly check. I found my 5 years military service was credited to my account. |
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