A new government report finds that the Social Security
\nsystem has shortchanged some folks. Find out what to do if you suspect you are
\namong them.\n<\/p>\n
\nMillions of Americans count on Social Security as a cornerstone of their \nFind out more about what happened and what you should do if you suspect you are Find Out:<\/a> 14 moves seniors could benefit from but often forget about.<\/a><\/p>\n The major Social Security mistake that cost widows and widowers \nAn error by the Social Security Administration (SSA) resulted in 8,618 widows \nThe report found that SSA staffers did not apply the required Widow(er)s \nAn accurate calculation is crucial because it adjusts a deceased spouse’s Shopping for cheaper auto insurance?<\/a> Enter your zip code here to get started.<\/a><\/p>\n The real costs of the mistake<\/p>\n \nThe errors were so significant that the average loss amounted to $5,800 per \nOverall, surviving spouses as a group lost out on a combined $50 million, \nThe stakes are high because so many retirees depend on Social Security to get \nThe SSA has noted that Social Security was never intended to be a retiree’s sole The problem runs deeper than just one mistake<\/p>\n \nThe report also found that SSA staffers failed to provide complete, clear \nIn all, an estimated 5,367 widows and widowers could have received an additional \nThe average benefit loss is estimated at $21,000 per individual.\n<\/p>\n Save Money:<\/a> Things to cut when living on retirement (many people ignore #11)<\/a><\/p>\n What are Social Security survivor benefits? <\/p>\n \nSurvivor benefits are paid out monthly to family members of deceased individuals \nFor spouses and ex-spouses, payments typically start at 71.5% of the deceased \nBy the time you reach full retirement age \u2014 which is now 67 for most people \u2014 Who was most impacted by the errors? <\/p>\n \nThe report found that those impacted by the SSA errors were most likely to have \nUp to 40% of surviving spouses may have been affected by similar errors during How the SSA has responded to the report<\/p>\n \nThe report from the inspector general recommends that the SSA identify and \nThe SSA says it is taking immediate steps to address the problem by reminding \nThe agency has also said it plans to take other corrective actions.\n<\/p>\n Retire like the rich:<\/a> 14 ways you could build wealth in your 50s.<\/a><\/p>\n How to get your proper benefits<\/p>\n \nIf you suspect you are among those who were underpaid, contact the SSA and ask \nIf the agency finds that an error occurred in relation to your account, you can \nBefore you contact SSA, you might want to gather important documentation, The deceased’s death certificate<\/p>\n Your marriage certificate<\/p>\n The Social Security numbers of both you and your deceased spouse<\/p>\n Any documents you have received that show your history of claims or other Don’t wait for Social Security to contact you<\/p>\n \nAlthough the SSA is pledging to take proactive and corrective action, it is \nCritics have charged that the SSA has a long history of inaccuracy and even Bottom line<\/p>\n
\nfinancial retirement
\nplan<\/a>. But a recent report found that thousands of widows and widowers have
\nbeen shortchanged on survivor benefits in the past.\n<\/p>\n
\namong those impacted.<\/p>\n
\nthousands<\/p>\n
\nand widowers receiving benefits that were not properly calculated, according to
\nthe report from the federal Office of Inspector General (OIG).\n<\/p>\n
\nIndexing Computation (WINDEX) when they manually processed some claims of those
\nentitled to survivor benefits.\n<\/p>\n
\nearnings record and directly affects the baseline benefit amount for the
\nsurviving spouse.\n<\/p>\n
\nperson.\n<\/p>\n
\naccording to the report. The size of the error means some people may have
\nstruggled to make ends meet when they should have been collecting larger
\nbenefits.\n<\/p>\n
\nby. About 40% of older Americans receive all of their retirement income from
\nSocial Security, according to a 2020 report from the National Institute on
\nRetirement Security (NIRS).\n<\/p>\n
\nsource of retirement income. However, in reality, millions of seniors depend on
\nthe program for most or all of their income.\n<\/p>\n
\ninstructions about when survivors should file for benefits and how to go about
\ndoing so.\n<\/p>\n
\ncollective $114 million in benefits if they had been advised to delay retirement
\nbenefits until after collecting survivor benefits, the report found.\n<\/p>\n
\nwho qualified for Social Security benefits. Those who may qualify for such
\nbenefits include:\n<\/p>\n
\nspouse’s benefit. The longer you wait to apply, the higher the percentage of the
\nbenefit you might get.\n<\/p>\n
\nyou are entitled to 100% of the benefit.\n<\/p>\n
\nhad spouses who died before the age of 62, as well as survivors who had their
\ncases manually processed.\n<\/p>\n
\nthe period covered by the report.\n<\/p>\n
\nreimburse those who received underpayments.\n<\/p>\n
\nfield office workers about the correct ways to calculate such benefits.\n<\/p>\n
\nthem to review your situation. Ask specifically whether WINDEX was correctly
\napplied in your situation.\n<\/p>\n
\nrequest back pay to make the situation right.\n<\/p>\n
\nincluding:\n<\/p>\n
\nimportant notices<\/p>\n
\nprobably a mistake to simply wait passively to be contacted.\n<\/p>\n
\nmisapplied credits. That is one reason why you are probably better off fighting
\nfor the benefits to which you are entitled instead of counting on the SSA to do
\nthe right thing.\n<\/p>\n