Social Security Facts
Below is a list of things you need to know about Social Security:
• Retirees receive COLAs (Cost-of-Living Adjustments) and have been since 1975 as a result of a law passed by Congress in 1972.
• FICA (Federal Insurance Contribution Act), the payroll tax which is a provision of the Social Security Act, as it appears in the Internal Revenue Code. This notification used to appear on our paycheck as one deduction. For clarity and ease of understanding, it now is separated into Social Security 6.20% and Medicare 1.45% deductions from earnings.
• The first 3 digits of our Social Security number indicates the geographic region where we lived at the time application was made for a Social Security card. The remaining numbers on the card are chosen randomly, although the middle 2 numbers indicate the number group that your number falls within. For example: Group 22-72. This example is for illustrative purposes only.
• Social Security numbers were assigned in the northeast and moved westward. So people on the East coast have the lowest numbers while those persons on the West coast have the highest numbers.
• Social Security numbers are never reused even after a person dies. The Social Security Administration states emphatically that their numbering system can provide enough new numbers for many generations to come.
• Social Security numbers were first issued in November, 1936.
• Social Security cards have been used as identification since 1972. Prior to that time, there was wording on the card that stated: Not for identification purposes.
• Services available to you from the Social Security Administration;
-Letter to confirm your benefit amount
-Change your address
-Get a password to check benefits or change your direct deposit information
-Apply for benefits
-Request a replacement Medicare card.
All services offered by the Social Security Administration (SSA) are free. Beware of any agency or organization offering services the SSA provides free-of-charge.
P. S. Always Remember to Share What You Know.