In the United States, social security, which is an agency under the auspices of the Federal Government, provides cover for those who reach the age of retirement and those who suffer from a physical or mental disability. Of all the money in the fund the greatest majority of social security in Missouri goes to retirees, the balance of it goes to those who are disabled, the survivors of a worker who died and certain dependants of the beneficiary.
During an individuals working life the SSA, Social Security Administration keep a record of their earnings and their FICA contributions. Once the individual reaches minimum retirement age and opts to retire, the benefit that the retiree gets from Social Security is based on their contribution, their aggregate income and their age. The benefits are calculated and hence determined against something called “PIA,” primary insurance amount. This PIA is the highest average income of the applicant over the best 35 years of his or her working life. A specific percentage of the PIA is calculated and then indexed to take inflation into account. The results of all these calculations are the monthly benefit that the retiree receives for the rest of their lives. Although many people opt to retire at 65, they can retire at 62 and be eligible for benefits.
Retirement benefits are only half of what Social Security does. In the event a person is no longer capable of working because of a physical or mental disability and it is deemed that the disability will last at least a year or be terminal then that individual can apply for and be granted Social Security disability benefits. It can take many months to go through the application process for Social Security in Missouri. It is very complex and most applicants find themselves denied of benefits. However, when they are denied there is a complex appeals process and it is advisable to go through this with an attorney. People who are considered low income earners or have no income at all can apply for Supplemental Security Income, another one of the benefits available from the SSA.
Should a worker die the surviving family members may be eligible for benefits from Social Security, it depends on the work the deceased did. The family members that can be included when calculating the benefit are the spouse, any dependent children and the dependant parents of the deceased as long as he or she was providing at least 50 percent of their support. Browse the site http://grundydisabilitygroup.com for more information
