Labor Day is usually associated with cookouts, the end of summer, and going back to school. Now that you have your first job, you’re learning the true meaning behind this holiday. From today on, when Labor Day rolls around, you’ll think of the hard work you put in during the year. What you should also think of is how the fruit of that labor will one day translate into Social Security benefits for you and your family.
Social Security is here with benefits, tools, and information to help you secure today and tomorrow. Here’s some things you should know: Continue reading →
“Rosie the Riveter” is an American icon representing women working in factories during World War II. These women learned new jobs and filled in for the men who were away at war. They produced much of the armaments and ammunition to supply the war effort.
They also paid FICA on their wages, contributing to the Social Security program. These “Rosies” embodied the “can-do” spirit immortalized in a poster by J. Howard Miller. Both the image and the spirit live on today. Continue reading →
Next payday, when you see a portion of your wages go toward FICA taxes, rest easier knowing that your investment in Social Security brings a lifetime of protections for you and your family.
From your first job and throughout your career, we track your earnings and give you credits for the contributions you’ve made through payroll taxes. Those credits can translate into important future benefits. As you prepare for a financially secure future, you should know about these five benefits that you, your spouse, and your children may become eligible for through Social Security: Continue reading →
Education is the way to forge a better future. The things we learn today can mold the way we’ll live tomorrow. This is something Social Security takes seriously. We know the work you do today will shape the benefits you’ll receive later on.
During May 1-5, we celebrate National Teacher Appreciation Week, a time to celebrate the role of educators in our lives. Most of us remember those dedicated individuals who helped us learn our ABCs and solve math problems while they shaped our intellect through lessons and encouragement. Continue reading →
At first, seeing taxes taken out of your paycheck can be a little disappointing. However, you can take pride in knowing you’re making an important impact each week when you contribute to Social Security. Understanding how important your contribution is takes some of the sting away because your taxes are helping millions of Americans — and protecting you and your family for life — as well as wounded warriors, the chronically ill, and disabled.Continue reading →
FICA taxes help provide benefits for retirees, disabled people and children. This contribution helps your parents and grandparents have a secure retirement while securing today and tomorrow for you and your future family. Learn more about FICA. Continue reading →
Your first job is a landmark occasion. You’re meeting new people, making professional connections, and probably cashing that first paycheck. You might be a little surprised when you see a portion of your earnings go to a tax called “FICA” for the Federal Insurance Contributions Act. This deduction goes to Social Security and is your way of helping us secure your today and tomorrow. It’s our job to keep the safety net of Social Security strong through your incremental contributions. Continue reading →
Every payday, you have Federal Insurance Contributions Act (FICA) and Self-Employed Contributions Act (SECA) taxes deducted from your paycheck. Nearly all of these contributions are used to pay Social Security benefits to more than 60 million retired, disabled, and widowed workers and their children, as well as to Medicare beneficiaries. A very small amount also helps pay for the work it takes to manage Social Security programs.
Providing Social Security services to the public is a big job. We have fewer than 64,000 employees in offices across the country handling millions of transactions yearly — taking applications, answering questions in person and on the phone, verifying benefit amounts, and reviewing appeals, among other things. The cost of doing these services is less than one penny out of each dollar paid in FICA and SECA taxes, which is a very good value. Continue reading →
Social Security’s Acting Commissioner, Carolyn W. Colvin, likes to tell this amusing story. A colleague’s teenage daughter came home bursting with excitement after receiving her first paycheck. But she had one question about her earnings statement.