Muncie Times, Muncie, Delaware County, 7 October 2004 — Page 26

Page 26 • The Muncie Times • October 7, 2004

SOCIAL SECURITY

By James Warmer Security tax contributions. careful reading of the Social is important not to cash any benefits after the death is Social Security District The Social Security Security Statement that you checks received for the reported to us. We will Manager in Muncie Times. Statement is a valuable get in the mail each year. month in which the contract you if we need What do nearly all financial planning tool that Sadly, at some time beneficiary died or more information. We will American workers now can help Americans prepare in our lives, most of us will thereafter and to return the contact you if we need more receive each year that they for their long term financial have to help wit funeral checks to Social security as information. - did not receive just five security. Most financial arrangements for a family soon as possible. If you are not years ago? planners say a person needs member or loved one. If you are getting currently getting social Here’s a hint: it is between 70 and 80 percent During that time of sorrow, benefits as a wife or Security benefits, you an official government of his or her pre-retirement it can be difficult to handle husband based on your should inquire about report about you and your income to live comfortably the many practical matters spouse’s work, when you survivor’s benefits promptly personal financial future. in retirement. But for the that also must be taken care report the death to us, we because, in some cases. If you have not average worker, social of. will change your payments benefits will be paid from guessed, the answer is the Security replaces only about Oftentimes, these to survivor’s benefits. If we the time you apply and not annual Social Security 40 percent of pre-retirement practical matters include need more information, we from the time the worker statement. This fall marks income. The balance must talking with the folks at will contact you. died. the fifth anniversary of the come from pensions and Social Security Knowing in If you are getting There is also a four page statement that is personal savings. advance what to expect can benefits based on your own Social Security lump-sum designed to help workers When you get your help make this task easier. - work, contact us to see if death benefit of $255 that is and their families plan for Social Security Statement, If monthly benefits you can get more money as available to eligible spouses their financial future. It is read it. Seeing your were being paid through a widow or widower. You or dependent children. The mailed to all workers 25 and estimated future income direct deposit, a family will receive the higher survivor can complete the older who are not yet numbers in black and white member should also notify benefit, not a combination necessary application at the receiving Social Security can help you make changes the bank or other financial of the two types of benefits, local social Security office, benefits, and should arrive in your savings and institution of the You will need to complete So remember; when two to three months before investment habits. Whether beneficiary’s death. They an application to switch to the time comes that you their birthday. The you are 10, 20, or 30 years should request that any survivors benefits, and we must deal with a death in the Statement provides from actual retirement, the funds received for the will need to see your family, social Security will estimates of retirement, successful journey to the month of death and later be spouse’s death certificate. be there to help make taking disability and survivors sort of retirement you returned to social security as Any child receiving care of some inevitable benefits that workers are envision begins with a first soon as possible. If benefits benefits automatically will practical matters as easy as earning through their Social step- which is often a were being paid by check, it be switched to survivor’s possible.

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