Mass Mutual put together a Social Security quiz for those approaching retirement age. See how you do.
True or False:
- In most cases, if I take benefits before my full retirement age, they will be reduced for early filing.
- If I am receiving benefits before my full retirement age and continue to work, my benefits might be reduced based on how much I make.
- If I have a spouse, he or she can receive benefits from my record even if he or she has no individual earnings history.
- Generally, if I am in a same-sex marriage, there are different eligibility requirements when it comes to Social Security retirement benefits.
- If I have a spouse and he or she passes away, I will receive both my full benefit and my deceased spouse’s full benefit.
- The money that comes out of my paycheck for Social Security goes into a specific account for me and remains there, earning interest, until I begin to receive Social Security benefits.
- If I file for retirement benefits and have dependent children aged 18 or younger, they also may qualify for Social Security benefits.
- If I get divorced, I might be able to collect Social Security benefits based on my ex-spouse’s Social Security earnings history.
- Under current law, Social Security benefits could be reduced by 20% or more for everyone by 2035.
- Under current Social Security law, full retirement age is 65 no matter when you were born.
- If I delay taking Social Security benefits past the age of 70, I will continue to get delayed retirement credit increases each year I wait.
- Social Security retirement benefits are subject to income tax just like withdrawals from a traditional IRA account.
- I must be a U.S. citizen to collect Social Security retirement benefits.
And the answers:
- True (84% answered correctly)
- True (77%)
- True (72%)
- False (69%)
- False (65%)
- False (60%)
- True (56%)
- True (56%)
- True (55%)
- False (53%)
- False (49%)
- False (38%)
- False (29%)
11 comments:
I guessed on 3-4, but still got all 13 right.
These questions are the bread and butter of 800 number and GI calls. Question 12 is badly worded - the answer could be yes or no depending on how you interpret the intent of the author - even the “clarification” in the article does not tell the whole story.
Agreed - 12 is a mess. The others were easy.
“Bread and butter of the 800 number.”
Don’t even get me started on the 800 number. We get scheduled appointments DAILY in the field office where we have to explain to people that they are not eligible for spousal benefits because their own record is too high of a benefit. I’m surprised the 800 number even knows how to answer the phone correctly let alone answer any questions.
8:48 again - I feel your pain 12:13. After one of my morning appointments resulted in advice to call back in three years after less than a minute of interview the caller asked whether he should call the “main number” or us directly. You can read the tea leaves on my answer. . .
#6: The money that comes out of my paycheck for Social Security goes into a specific account for me and remains there, earning interest, until I begin to receive Social Security benefits.
The number of times I hear "I worked my whole life, and now I want my money!" every day at DDS...
Not to defend the ludicrous answers one can get from the TSC but in my very limited experience ages ago (think 80s), if a TSR misunderstood something there was so little interaction with coworkers who were more experienced that one could be wrong about a policy for years before a supervisor heard you telling the wrong policy on a monitored call.
If the training is anything like FO training (all online), it's easy to see why many TSRs give out lousy information. Terrible training brings lousy results.
Since 2016 or so, all 800# calls have been recorded - along with the screens in real time. This has weeded out a fair number of CSRs who were doing everything except their job. It also means that the monthly reviews can be of any call. With broken training, however, it can still take years for correction. . .
"So if I die, what happens to my money? It just goes to waste?"
"But I'm on Social Security, why am I still paying Social Security tax?"
"I'm drawing retirement, I wanna see how much it goes up when I turn 65"
"I'm drawing disability and just turned 62, now I wanna file for retirement"
"$255? Her funeral cost eight thousand dollars!"
12 Social Security benefits may be taxable depending on other income but not just like IRA withdrawals as the formula is completely different.
As to the other questions, if any one at SS got this wrong and are in position to answer questions, they should get a new job.
These questions show how poorly SSA gets the information out to the public. Very few people are prepared for retirement or Medicare decisions that will be locked in for the rest of their lives. The public is also to blame for not educating themselves as well, but some of the language is a barrier, familiar to those around the agency but intimidating and confusing to those who have never had dealings with the agency.
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