EFTA00597519.pdf

Your payment would be about IIII IIII 11111Ell HI III IIIII III VIII 111111 IIII III IIIIIII 11111 IIIII 11111111111 I $2,669 a month at full retirement age *15 000044357 14"."" "in 12 •4131' AV • M4 JEFFREY E. ursTEIN September 01, 2015 6101) REDIIOOK QTR APT NO B3 ST THOMAS VI 00802 Your Social Security Statement Are you thinking about retirement? Are you ready for retirement? We have tools that can help yowl • Estimate your future retirement benefits at www.socialsecurity.govlestinsator • Apply for retirement, spouse's, Medicare or disability benefits at www.socialsecurity.govlapplyforbenefits • And once you receive benefits, manage your benefits at www.socialsecurity.gov/myaccount Your Social Security Statement tells you about how much you or your family would receive in disability, survivor or retirement benefits. 40 percent of your annual prerettrement It also includes our record of your lifetime earnings. You will need other savings, earnings. Check out your earnings history, and investments, pensions or retirement accounts let us know right away if you find an error. to live comfortably when you retire. This is important because we base your benefits To view your Statement online anytime, on our record of your lifetime earnings. create a my Social Security account Social Security benefits are not intended to be at tvww.socialsecurity.govImyaccount. your only source of income when you retire. On average, Social Security will replace about O-f_rer - asset's_ Carolyn W. Colvin Acting Commissioner p ZMN=111 Follow the Social Security Administration at these social media sites. Irj EFTA00597519 Your Estimated Benefits •Retirement Toe ►ave donned though credits to galley for besefits. nt year Gamut earthed@ rate, it yea cantinas working until... roar tall retirtheat ace (44 years), year paythat weld ►e about $ 2,141 • month ale PC, year payment would be obese $ 3,517 • oath ace 41, your payment would be abet! $ 2,002 • costa •Disability You have earned enough credit, to qaalify to benefits. If you benne disabled richt now year payment reels be about $ 2,554 a tenth •Family It yes est retirement or disabllity ►enefits, year spouse or Wiliam nay also cattily for boaefits. •Survivors You have earned enough credits for your tally to receive survivors benefits. If you die this year, certain members of your rally ay quality for the follawisq benefits. Your child $ 10040 a sent* Your synth who is oaring for your child $ 1,511 a meet► Your wags, if benefits start at full retiree/gat ace $ 2,597 • month Total family benefits cannot be moth than 4,545 a south Your spas. or suer child way be eligible for • special the-tthe death benefit of $255. Medicare You have earned snatch thedlts to quality for Kedicare at ace is. Iv.. if you do not retire at ace 45, be are to contact Social Security three &oaths before your 45th ►irthday to enroll is Kediean, •your es timated benefits •re bessd on current law' C ha made changes to the lay in the past and can do so at any time. The law governing benefit amounts say change because, by 2033, the payroll tares collected will be enough to pay only about 77 portent of scheduled benefits. V. based your benefit otiattop on these facts: Your date of birth (pleas. verify year ea. ea Race 1 and tki• data of birth) fasten 20, 1153 Your estiated taxable thraincs per year after 2115 $117,111 Your social security saber (only the lest fear digits are than to ►elp prevent ideatiky theft) m• XX•3145 How Your Benefits Are Estimated To qualify for benefits, you earn 'credits' through your , (3) Your estimated benefits ice based on current law. The work — up to four erect year. This year, for example, you law governing benefit amounts may change. earn one credit for each $1,220 of wages or self-employment (4) Your benefit amount may be affected by military income. When you've earned $4.8S0, you've earned your four service, railroad employment or pensions earned credits for the year. Most people need 40 credits, earned over through work on which you did not pay Serial their working lifetime. to receive retirement benefits. For Security In Visit totato.socialseaultr.goolmya000ttrd disability and survivors benefits, young people need fewer to learn more. credits to be eligible. We checked your records to see whether you have earned Windfall Eliminietion Provision (WEP) — In the future, enough credits to qualify for benefits. If you haven't earned if you receive a pension from employment in which you do enough yet to qualify for any type of benefit, we cent give not pay Social Security taxes, such as some federal, stet' you a benefit estimate now. If you continue to work, we'll or local government work, some nonprofit organizations give you on estimate when you do qualify. or faring,' employment, and you also qualify for your own What we rammed — If you have enough work credits, we Social Security retirement or disability benefit, your Social estimated your benefit amounts tieing your average earnings Security 11O1art may be reduced, but not eliminated, by over yon• working lifetime. For 2016 end later (up to retirement WEP. The amount of the reduction, if any, depends on age), we assumed youll continue to work and make about your e•nuuxs and number of years in jobs in which you the same as you did in 2013 or 2014. We also included paid Social Security taxes, and the year you are age 62 or credits we assumed you earned last year and this year. bitterns disabled. For more information, please see Windfall Generally, the older you ere end the closer you are to Elimination Provision (Publication No. 05-10045) at retirement, the more accurate the retirement estimates will be totata.socialatrarity.gadWEP. because they are betted on a longer work hi.stoiv with fewer Government Pension Offset (GPO) - if you receive ■ uncertainties such as earnings fluctuations and future law pension based on federal, state or local government work changes. We encourage you to use our online Retirement in which you did not pray Social Security trues and you Estimator at uota.socialsentrity.goufeutimator to obtain qualify, now or in the future, for Social Security benefits es a immediate and personalized benefit estimates. current or former spouse, widow or widower, you are likely We can't provide your actual benefit amount until you to be affected by GPO. If GP() applies, your Social Security apply for benefits. And that amount may differ from the benefit will be reduced by en mount equal to twothirds of estimates stated above because: your government pension, and could be reduced to zero. Even (I) Your earnings may increase or decrease in the future. if your benefit is reduced to zero, you will NI eligible for (2) Alter you start receiving benefits, they will be Medicare at age 115 on your spouse's record. To learn more, adjusted for cost•of•living increases. 111010441 Nee Govarrunent Ponstun Offset (Publication Nu. 0,540007) at tawto.socialsecurity.govIGPO. ICI 2 EFTA00597520  Your Earnings Record Your 'rued Your Taxed Your Taxed Your Taxed IIII IIII Mill Mill IIIII Mill IIIIIII 11111111111 till IIIIII MIMI VIII IIIII 11111 IIIIII I Years You Social Security Medicare Years You Social Security Medicare Worked Earnings Earning* Worked Earnings Earnings 1968 S 94 94 1990 S 51,300 S 51,300 1969 3 39 1991 53,400 125,000 1970 1971 0 0 1992 1993 1994 55,500 57,600 60,600 130,200 135,000 2,014,839 1 1972 25 256 1995 61,200 153,564 1973 5 50 1996 62,700 150,754 t 1974 4,000 4,000 1997 65,400 150,754 1975 10,20 10,200 1998 68,400 151,287 1976 15,30 15,300 1999 72,600 160,000 1977 16,50 16,500 g 1978 17,70 17,700 2000 76,200 240,666 1979 22,90 22,900 2001 80,400 240,666 2002 84,900 240,7% 1980 25,90 25,900 2003 87,000 241,021 1981 29,70 29,700 2004 87,900 241,021 i 1982 0 2005 90,000 241,021 1983 0 2006 94,200 241,021 1984 0 2007 97,500 180,785 1985 0 2008 0 0 1986 1987 1988 1989 43,80 45,00 48,00 0 43,800 45,000 48,000 2009 2010 2011 106,800 106,800 0 0 190,980 190,980 I 2012 110,100 190301 2013 113,700 186,345 2014 117,000 189,999 Total Social Security and Medicare nage paid over your working career through the last year reported on the chart abown Estimated taxes paid for Social Security: Estimated taxes paid for Medicare: You paid: S130,231 You paid: $92,233 I Your employers paid: S128,571 Your employers paid: Note: Currently you and your employer each pay a &2 percent Social Security tax on up to $118,500 of your earnings and S90,029 a 1.45• percent Medicare tax on all your earnings. If you are eelleteployed, you pry the combined employee and employer amount, which is a 12.4 percent Social Security tax on up to $118,500 of your net earnings and a 2.9• percent Medicare tax on your entire net earnings. •1f you have earned income or more than la0e0 ($260,000 fee married couplet/ Max Mann, you must pay 0.9 percent more M Medlar. tam. Help Us Keep Your Earnings Record Accurate You, your employer and Social Security share responsibility processing lest year's earnings reports when your Statement for the accuracy of your earnings record. Since you began was prepared. Your complete earnings for lest year will be working, we recorded your reported earnings under your shown oil next year's Statement. Note: If you worked for name and Social Security number. We have updated your more then one employer during any year, or if you had both record each time your employer (or you, if you're sell.- earnings and self-employment income, we combined your employed) reported your earnings. earnings for the year. Remember, it's your earnings. not the amount of taxes you There's a limit on the amount of earnings on which you paid or the number of credits you've earned, that determine pay Social Security taxes each year. The limit increaser. your benefit amount. When we figure that amount, we base yearly. Earnings above the limit will not appear on your it on your average earnings over your lifetime. If our records earnings chart as Social Security earning'. (For Medicare are wrong, you may not receive all the benefits to which taxes, lbw maximum earnings amount began rising In 1991. you're entitled. Since 1904, all of your earnings are taxed for Medicare.) Review this chart carefully using your own records to make sure our lamination is correct and that we've recorded each Call us right away at 1-800-772-1212 (7 local time, • ■. 7 your as year you worked. You're the only person who can look at the 1-500-325-9779) if any earnings for years before last year are shown incorrectly. Please have your W.2 iB earnings chart and know whether it is complete and correct. or tax return for those years available. (If you live outside Some or all of your earnings from last year may not be the U.S., follow the directions at the bottom of page 4.) shown on your 8:weird's& It could be that we gill were 3 EFTA00597521  .\31 4/%, SEco Thinking of retiring? IIIIIIII Mill EH IIIII IIIIIIIIN IIIill 111111 IIII 11111 111111111111III11111111111I alf-S ?Cif* www.aocialsecurity.gov Some things to consider Avoid a Medicare Penalty Sign Up at Age 65 R etirement can have more than onemoaning these days. It can mean that you have applied If you retire early, you may not have enough income to enjoy the years ahead of you. Likewise, Even don't plan to receive if you for Social Security retirement if you retire late, you'll have a monthly benefits, be sure to sign benefits or that you arc no longer larger income, but fewer years to up for Medicare three months before working. Or it can mean that you enjoy it. Everyone needs to try to turning age 65. If you don't sign up have chosen to receive Social find the right balance, based on for Medicare Part B (medical Security while still working, either his or her own circumstances. insurance) when you're first eligible, full or part-time. All of these your coverage may not start right We hope the following choices are available to you. Your away and you may have to pay a late I information will help you as retirement decisions can have enrollment penalty for as long as you you plan for your future very real effects on your ability to retirement and consider your have it. You can apply online. Visit maintain a comfortable retirement. retirement options. www.socialsecurity.goolmedioareonly for information and to apply. I What is the best option for you? There is one more thing you should remember as you crunch the numbers Everyone's situation is different. That is why Social Security has created for your retirement. You may need several retirement planners to help you decide what would be best for your income to be sufficient for a you and your family. Social Security has an online calculator that can long time, because people are living provide immediate and accurate retirement benefit estimates to help you longer than ever before, and generally, plan for your retirement. women tend to live longer than men. The online Retirement Estimator is a convenient, secure, and For example: quick financial planning tool. It uses your own earnings record • The typical 65-year-old today will information, thereby eliminating any need to manually key in years live to age 83; of earnings information. The estimator also will lot you create 'what • One in four 65-year-olds will live if' scenarios. You can, for example, change your "stop work* date or to age 90; and expected future earnings to create and compare different retirement • One in ten 65-year-olds will live options. To use the Retirement Estimator, go to our website at to ago 95. uano.sociolsecurity.goulestimator. Once you decide on the best age for you to actually retire, remember Monthly benefit amounts differ based on the to complete your application three age you decide to start receiving benefits months before the month in which This example assumes a benefit of you want retirement benefits to begin. $1,000 at a full retirement age of 66 S It's so easy to apply $1.320 60 online for benefits 3 Si poo ii;1.050 l The easiest way to apply for Social $933 Security retirement benefits is to go online at uow.socialsecuritnool applyforbenefits. If you do not have access to the Internet, you can I call 1-800-772-1213 awry 1- 325.0778) between At r, and 7 M., Monday through Friday, to apply by phone. You also can apply 62 63 64 65 66 67 se 69 70 at any Social Security office. To avoid having to wait, call first Age you shoos. to start remelting benefits to make an appointment. EFTA00597522