Last updated 12 hours ago
Retiring Americans use their Social Security checks to bolster the national economy. Both Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI) indirectly contribute to a myriad of different industries and sectors of the marketplace.
For instance, Social Security currently accounts for about half of the total income retirees spend every year. AARP estimates that every dollar paid out in federal benefits has the eventual effect of adding two dollars to the national economy. This happens because retirees spend their checks and small businesses use the income to hire employees and generate more wealth. As the baby boomers begin retiring, this trend will continue.
Dixon & Johnston, P.C. is a Social Security law firm with offices in both St. Louis and Belleville. If you have questions about SSI or SSDI regulations, our attorneys can help. Check out our website or call our team at (618) 207-3770 to schedule an appointment for an initial case evaluation.
Last updated 3 days ago
The current fiscal climate is causing many to question the current state of the U.S. Social Security system. Between the government shutdown and delayed federal budgets, it may sometimes be hard to figure out the rules of retirement. This article offers an overview of what you need to know about Social Security:
The Social Security system has adequate funding at the moment, so you can take early retirement benefits if you choose. The Social Security Administration allows qualified individuals to begin Social Security retirement benefits as early as age 62. However, a beneficiary will receive about 25% less each month if they begin payouts early.
Depending on income and FICA tax levels, each American can collect full Social Security benefits at a certain age. Individuals born before 1937 have a full retirement age of 65. However, all those born after that date must wait a bit longer before they can collect 100% of their Social Security. For instance, Americans born after 1960 must wait until age 67 if they hope to avoid decreases in their benefits.
Some individuals may choose to work past their “full” retirement age. This is often a prudent financial choice for those with the physical ability and desire to continue working. If an individual chooses to delay receiving Social Security benefits for several years, he or she can increase the eventual retirement check by as much as 8%. In many cases, this can lead to an increase of several thousands dollars per year for the rest of a retiree’s life.
Retirement planning is filled with legal rules and regulations; fortunately, the lawyers at Dixon & Johnston, P.C. can help solve your toughest Social Security challenges. If you want advice about how and when to file for benefits in Missouri or Illinois, call (618) 207-3770 to schedule an appointment with our experienced team.
Last updated 6 days ago
News headlines during the last several years have heralded the end of Social Security. This video explains that these concerns are overblown, and that the system will be in good shape for at least the next two decades. These facts are important for the baby boomer generation, members of which are soon heading into retirement.
The Social Security system currently has a 2.5 trillion dollar surplus, which will increase to 3.5 trillion in the coming years. The video notes that without any reforms, the system will continue to be in good shape until at least 2035, at which point it will only be able to pay for 75% of the new retirees.
Individuals retiring in the next decade should understand when and how to begin collecting Social Security benefits. If you live in the St. Louis or Belleville areas and want to speak to a skilled lawyer about your specific situation, dial (618) 207-3770 to schedule a free initial appointment with Dixon & Johnston, P.C.
Last updated 15 days ago
Americans who have paid into the Social Security system have a right to receive benefits. If you are improperly denied those benefits, the government is required to let you exercise due process under the U.S. Constitution and challenge the rejection. In the Social Security context, this means appealing a wrongfully denied claim and having your day in court.
The Social Security Administration (SSA) offers Supplemental Security Income applicants several ways to appeal. First, applicants can request a “reconsideration,” where a different SSA reviewer looks at the application to make sure it was not wrongfully denied. Then, applicants can appeal their case to a special SSA judge. If the judge does not rule in their favor, applicants can petition a special appeals council or federal court.
The attorneys at Dixon & Johnston, P.C. know how to effectively appeal Social Security claims. If your application was unfairly denied, call our St. Louis-area office at (618) 207-3770 to discuss your legal options. We may be able to help you receive benefits through reconsideration or judicial appeal.
Last updated 18 days ago
This video from the Social Security Administration explains government rules that encourage disabled individuals to re-enter the workplace. Americans collecting SSDI automatically receive a nine-month trial period, during which they can work and earn money while still receiving monthly benefits and Medicare.
If an individual must stop working during this period, their benefits are not affected. However, if someone decides to continue working past the ninth month, his or her checks will be decreased or stop coming during the period of employment.
Disability insurance is full of unique rules. The lawyers at Dixon & Johnston, P.C. have decades of experience helping clients receive the benefits they deserve. If the government has denied or cut off your benefits, call us at (618) 207-3770 to see if we can appeal the claim.