Conference nyoss1::market_investing

  The current Social Security Administration number is 800-772-1213.  It is
  worth getting an updated description of your benefits every 3 years since
  it becomes harder to contest incorrect information older than that.

    Gee.. I wonder how long it takes to receive your earning statement.
    I called 4 week ago and "rusty" is still waiting for the mailman.
    
    I called again today and held for a representative for over 10 minutes.
    
    I did get through to a rep and she was surprised I had not received it
    yet. She took my name and address and said I should receive it in 4-5
    days.
    
    Well at least I can say "Are represenatives are still busy,
    please hold for the next represenative." in spanish.
    
    
    
    Rick L.

    Recently,when I tried to figure out what my wife and I will have for
    retirement in 15 years or so,I deliberately left out the projected SS
    benefit 'cause I believe it  either won't be there at all or at least
    drastically reduced. If it *is* there,so much the better,but,I'm not
    counting on it.
    
    Ken

    my mother works for a place that is undergoing layoffs. she is
    70 years old and currently receiving social security payments as
    well. she has been there 13 years.
    
    she was probably looking to retire this year anyways but if
    laid off CAN she collect unemployment ? (she seems to think she
    can't because of receiving social security, etc. ) I think she
    should opt to being laid off, rather than retiring.
    
    What are the implications to the employer ? Hasn't he already
    paid into his unemployment insurance on her behalf for
    the last 13 years ?

Joanne,

   My mother, 74 years old, working full-time as a secretary in
a lawyer's office, got laid off.  She is receiving her social
security and is collecting unemployment.  She deserved the unemployment
benefit and got it.  I'll check with her to see if getting it was
a problem.  I forget the details.

Barbara

Hi, 

My mother is similar, 70+ and receiving Social Security and lives in Mass. 
She recently had her work hours involuntarily cut from 40hrs to 24hrs.

Does anyone know:

How will this effect future unemployment compensation?

Is she eligible for unemployment now? Is the cut back in hours
considered layoff and re-hire?

If she isn't eligible for unemployment why don't other companies do this?
Could save a lot of severance and/or increased employer unemployment 
charges.

Thanks for Responses

    Yes, you are entitled to unemployment at any age.  You are also
    entitled to "underemployment" benefits.  
    
    Carl

    I have heard that Social Security is ok until about 2020. True? Any
    guesses as to what happens when SS finally goes belly-up? Maybe the
    govmint will form some sort of new plan? Wonder how many beggars we'll
    have on the streets of America if Uncle Sugar suddenly shuts off the
    tap. 
    
    Ken

    I'm sure they won't just shut it off (as witnessed by current congress
    persons shaking in their boots when you mention it); it will just go
    broke as it and other non productive social programs probably should.

>    I have heard that Social Security is ok until about 2020. True?
    
    False.  Social Security surpluses that make it OK now are "invested" in
    a non-negotiable form of U.S. Treasury bond.  Well before 2020, I'd say
    about 2002, SS will depend on those bonds to supplement growing expenses.
    It's an open question whether the gummint will be able to pay those
    bonds, and if so, whether the money will have any purchasing power.
    Lose/lose.
    
    If the past is any guide, any SS problems will be "solved" by convening
    an emergency bipartisan commission that will recommend the only choice,
    namely to further tax the productive members of society so as to keep
    those elderly voters (and I'll be one of them at that time) voting.
    
      John

    No matter *when* SS finally dies,I guess the US has to face the problem
    sooner or later and do something about it. Maybe some coalition of
    retired and close to retired people would have to force the politicians
    (with their votes) to act. (the population *is* getting older,you know)
    This coalition would come to realize that just raising the FICA tax is
    no answer since those still wage earning people would have only so much
    money to give before they just quit their jobs and go on welfare. A 
    grim scenario,eh? Where would we all be then? One possible solution
    (and the most likely one) is to tax the hell out of those who found a
    way to put away money for retirement in the form of IRA and 401(k).
    Another,less likely solution,is to make IRAs so attractive that one
    would literally have to be brain-dead not to have one. Yes,the Congress
    will have to be forced into action,they won't do it on their own. They
    will act when the aging voters make them realize that *their own*
    retirements are on the line. 
    
    Ken

    
    	Re: .last few
    
    	While those scenarios could certainly happen, my guess is that
    we'll see (individually, or on top of those other scenarios) a gradual
    increase in the retirement age.  That keeps more people putting money
    into SS and lowers the average amount (ie. number of years) that people
    take money out of the system.  I bet that by the time I'm ready to retire
    (I'm 34 now), full retirement age will be around 70.
    
    								-craig

re: .12

I thought I typed this here already.  One thing that has been done is to extend
full retirement age until 67.  I think that starts with people born in 1960,
if I remember correctly.

Elaine

    Boy, you got to love the power of Notes. Do you realize the previous
    entry was replying to a note entered a-year-and-half ago? Say hello to
    the time travelers.   :-)
    
    Sorry, I know this is not investing related. But, I just can't resist
    to put it in. Now, let's return to "investing".