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Supplemental Security Income (SSI) is a means-tested program that provides cash payments to disabled children, disabled adults, and individuals aged 65 or older who are citizens or nationals of the United States. [1] SSI was created by the Social Security Amendments of 1972 and is incorporated in Title 16 of the Social Security Act.
The states who do let the Social Security Administration manage their SSP (see section Apply for the State Supplement Program). Except from the states of Arizona, Mississippi, North Dakota, Northern Mariana Islands, and West Virginia; every state currently offers a state supplement to the federal SSI through the State Supplement Program.
Indeed, The Senior Citizens League argues that since 2010 the average Social Security recipient has lost $370 worth of monthly buying power due to inadequate adjustments.
A separate analysis from the Center on Budget and Policy Priorities found that the poverty rate for adults aged 65 and above would be nearly four times higher if Social Security didn't exist -- 10 ...
“Many, many seniors rely on Social Security for the majority, if not all, of their income,” said Martha Shedden, president of the National Association of Registered Social Security Analysts ...
Social Security payments to beneficiaries, which totaled $1.23 trillion in 2022, are generally financed by payroll taxes on workers in Social Security covered employment, trust fund reserves, and income taxation of some Social Security benefits.
For these credits, you have until Nov. 17, 2022, to use the government’s Free File platform at IRS.gov/freefile, which lets people whose yearly incomes are $73,000 or less file a return online ...
Overall, the benefits make up about a third of a middle-income earner’s average wages, even though Mary Johnson, a Social Security and Medicare policy analyst at The Senior Citizens League ...