Ok Baby Boomers, listen up. Technology rules again! The Social Security Administration has new rules starting now in 2013. The two year payroll tax cut has ofﬁcially ended. The Social Security check will become extinct because it will no longer be printed. There will be more online services. There will be reduced hours. There is higher earnings limits. Best of all, maybe bigger payments.
Whew, we are being forced to learn the computer and use it whether we like it or not. I hope the electrical forces never go out.
It appears that the payroll tax cut expires at the end of 2012. This means that workers who paid 4.2 percent of their income into social security in 2011 and 2012 will now contribute 6.2 percent of their earnings in 2013.
Did you know that on March 1, 2013, the Treasury department will no longer mail out your check? Retirees will be required to choose to have their payments either directly deposited into a bank or credit union, or loaded onto a prepaid Direct Express Debit MasterCard.
You will no longer have to go to the Social Security ofﬁce to start your social security process. You need a computer thanks to Patty Duke and George Takei. Their acting abilities during the advertising campaign started many retirees doing their online tasks for the social security department.
In order for the government to save money, the Social Security ofﬁces are reducing the hours they are open. They stated that this saves money and keeps them from having to pay overtime to any of the employees.
US citizens between the ages of 62 and 66 who work and collect social security might have part or all of their social security beneﬁts temporally withheld. People between the ages of 62 and 65 can earn up to $15,120 in 2013. One dollar in beneﬁts will be held for every $2 of income above the earnings limit.
People on Social Security began receiving payments that were 1.7 percent larger in January. The average monthly beneﬁt in January jumped from $1,240 to $1,261 as a result of the cost-of-living adjustment.
What more can I say…!!
image courtesy of: www.secularism.org.uk