Social Security Benefits From An Individual Financial Planning Perspective

Webinar: ID# 1023444
Recorded CD
About This Course:
For many U.S. workers, Social Security taxes are the largest single investment they will make in their own retirement, security and Social Security benefits are the largest source of retirement income they will have.

Individuals with large 401(k) or other pension income in retirement will typically have relatively high Social Security benefits.

Yet many Americans do not understand how their Social Security retirement benefits are calculated, when they are eligible for them, or the best time to claim them. In addition, many Americans are not aware of Social Security's survivor and disability benefits, or how Medicare applies to them.

This webinar will attempt to lay a basic foundation of understanding about these subjects, with particular emphasis on the determination and maximizing of Social Security retirement benefits.


Overview of Social Security and Medicare
  • History, Purpose, Solvency Concerns
  • Social Security vs. Medicare vs. Supplemental Security Income (SSI)
  • Social Security Administration
  • Social Security Totalization Agreements With Foreign Countries
Fica and Sei Taxes
  • OASDI vs. HI
  • OASDI Maximum Wage Base
  • Medicare Surtax
  • Exclusion for Some State and Local Government Workers; Section 218 Agreements
Calculation of Social Security Retirement Benefits for Workers
  • Individual Earnings History
  • Eligibility Threshold (10 Years With at Least Minimal Earnings)
  • Importance of Social Security Retirement Age (SSRA)
  • Determination of Average Indexed Monthly Earnings (AIME) and Primary Insurance Amount (PIA)
  • Replacement Rate Bend Points
  • Reduced Benefits for Age 62 or Later, but Pre-SSRA, Retirement; Increased Benefits for Retirement After SSRA, up to Age 70
  • Windfall Elimination Provision (WEP) for Some State and Local Government Workers
  • Benefit Reductions for Substantial Earnings Before SSRA
Spousal Retirement Benefits
  • Basic Calculation of Spousal Benefit
  • Divorced Spouses
  • Dual Eligibility
  • Government Pension Offset (GPO)
Social Security Survivor Benefits
  • Different Types of Survivor Benefits
  • Eligible Family Members, Family Maximum
Social Security Disability Benefits
  • Qualification, Amount, Eligible Recipients
Brief Overview of Medicare
  • Parts A, B, C, and D
  • Qualification Dependent on Social Security Eligibility, but Separate Claiming
  • To Claim or Not to Claim If Working Past Age 65 and Still Eligible for Employer-Sponsored Plan
  • Medicare Secondary Payer Rules
Social Security Retirement Benefit Claiming Strategies Involving File and Suspend and File and Restrict
  • What They Were
  • Effect of Bipartisan Budget Act of 2015
  • What's Left and for How Long
Taxation of Social Security Benefits
  • Basic Calculation, Planning Strategies
Interfacing With SSA
  • Office Visits and Telephonic Interaction
  • Obtaining Your Social Security Earnings Records and Benefit Estimate
  • Using the SSA Website to Answer Complex Benefit Questions
About The Presenter

Luke D. Bailey
  • Partner in the office of Strasburger & Price, LLP
  • Practice emphasizes all aspects of employee benefits and executive compensation
  • Conducts regular seminars and workshops on numerous employee benefits and executive compensation issues
  • Author of several publications related to the areas of employee benefits and executive compensation
  • J.D. degree, University of California at Berkeley (Boalt Hall), 1982, Order of the Coif; A.B. degree, Occidental College, 1974, cum laude
Social Security Benefits From An Individual Financial Planning Perspective
Available on CD format
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