Social Security, Understanding the Benefits


By Irene Saccoccio and Alfredo Padilla, Jr

At Social Security we are with you throughout life’s journey. Helping you understand the benefits is part of our commitment to you. We are looking forward to participating in the 2016 Annual Conference & Exposition for the Society for Human Resource Management (SHRM) to help show you how to secure today and tomorrow. Our website has a wealth of information to help your employees plan for retirement or other life events.

When you work and pay Social Security and Medicare taxes, you earn Social Security credits.  These credits count toward your retirement benefits and can qualify you and your family for disability, Medicare, and survivors insurance. We base your benefit payment on how much you earned during your working career. Higher lifetime earnings result in higher benefits. The age at which you decide to retire also affects your benefits.

It’s important to remember that Social Security replaces only about 40 percent of preretirement income for the average worker. Having pensions, savings, and other investments is essential for a comfortable retirement. Our factsheet, When to Start Receiving Retirement Benefits, can help you make an informed decision. You can use our Retirement Estimator to estimate your retirement benefits based on your earnings record.

A my Social Security account can also help your employees plan for the future. With a personal my Social Security account, you can get your Social Security Statement to view estimates of your future retirement, disability, and survivors benefits. You can review your yearly earnings and verify the amounts that we posted are correct. With your personal my Social Security account, you can also request a replacement Social Security card, if you meet certain requirements.

We invite you to visit the Social Security Booth #3214—3216, Exhibit Hall C, at the SHRM 2016 Annual Conference & Exposition June 19 to June 21. Social Security representatives will be there to help you create a my Social Security account and to answer your questions.


The SHRM Blog does not accept solicitation for guest posts.

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