Key Takeaway: Calling Social Security from overseas is possible, but may require additional steps and planning. Before calling Social Security from overseas, it’s important to have all necessary information and documents available, including a US phone number and Social Security number. Alternative methods for contacting Social Security from overseas include using online services and contacting…
Example response: Key Takeaway: A pension lawyer specializes in advising and representing clients on legal matters related to pension plans, including design, compliance, funding, investments, administration, and terminations. Pension lawyers address a range of legal issues, such as compliance with the Employee Retirement Income Security Act (ERISA), disputes and litigation, mergers and acquisitions, governmental regulations,…
Key Takeaway: The length of time it takes to review a Social Security Disability (SSD) claim varies depending on several factors such as qualification for expedited review, complexity of the case and backlog of SSD review. SSD initial application review and reconsideration requests usually take between three to five months, whereas, hearings and appeals council…
Key Takeaway: Retirement planning is crucial for a secure financial future. It is important to start early and consider factors such as retirement goals, risk tolerance, and investment time horizon. There are various investment options for retirement, including 401(k) plans, IRAs, mutual funds, real estate, annuities, and bonds. It is important to diversify investments and…
Key Takeaway: Direct deposits for Social Security benefits may go to a closed account due to various reasons, such as incorrect account information or bank errors. If a direct deposit goes to a closed account, the bank or credit union will handle the funds differently, which may result in delays in receiving Social Security benefits….
Key Takeaway: Social Security benefits are a form of retirement income paid by the US government to eligible individuals who have paid into the system. The amount of benefits you will receive is determined by your earnings history, age, and when you choose to start receiving benefits. The calculation of your Social Security benefits is…
Key Takeaway: Disabilities that qualify for Social Security include both physical and mental conditions that prevent a person from engaging in substantial gainful activity. These conditions must be expected to last for at least 12 months or result in death. The Social Security Administration uses a “Blue Book” with specific criteria to determine if a…
Key Takeaway: Understand Pension Sharing Orders: A Pension Sharing Order is a court order that divides a pension between divorcing spouses. It is important to understand how these orders work, as they can have a significant impact on your retirement savings. Prevent a Pension Sharing Order: There are several ways to prevent a Pension Sharing…
Key Takeaway: Before requesting social security benefits online, ensure that you meet the eligibility criteria and have all the required documents, including your social security number, proof of age and citizenship, and information about your work history and income. To request social security benefits online, you will need to create an account on the Social…
Key Takeaway: COLA stands for Cost of Living Adjustment and is an annual increase in Social Security benefits to offset the impact of inflation on retirees’ purchasing power. The COLA for Social Security is calculated using the Consumer Price Index for Urban Wage Earners and Clerical Workers. This index measures changes in the prices of…
Key Takeaway: A SSAS pension is a type of pension scheme that stands for Small Self-Administered Scheme. A SSAS pension provides features such as flexibility, investment control, and tax advantages that differ from other pension schemes, such as personal or workplace pensions. To set up a SSAS pension, individuals must establish a legal trust, appoint…
Key Takeaway: Social Security Award Letter is a document that provides information about an individual’s Social Security benefits. To be eligible for this letter, individuals need to have paid sufficient Social Security taxes and meet other requirements. Social Security Award Letter is an important document that can be used for various purposes, such as proof…