Social Security: More Must be Done to Credit Earnings to Individuals' Accounts : Report to Congressional CommitteesThe Office, 1987 - 70 pages |
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Page 10
... eligibility for Social Security benefits . Once sufficient quarters of coverage are earned and retirement , survivors , or disability conditions are met , SSA uses the amount of earnings to calculate an individual's benefit . Employers ...
... eligibility for Social Security benefits . Once sufficient quarters of coverage are earned and retirement , survivors , or disability conditions are met , SSA uses the amount of earnings to calculate an individual's benefit . Employers ...
Page 12
... eligibility and on the Social Security trust funds . During our review we also sought to ( 1 ) determine the reasons that earnings differences were not being resolved and ( 2 ) learn more about the underlying causes for these dif ...
... eligibility and on the Social Security trust funds . During our review we also sought to ( 1 ) determine the reasons that earnings differences were not being resolved and ( 2 ) learn more about the underlying causes for these dif ...
Page 20
... eligibility and benefit amount , uncredited earnings can affect SSA benefit payments . Current beneficiaries have lost - and will continue to lose - benefits because of SSA's failure to correctly credit their earnings . In addition ...
... eligibility and benefit amount , uncredited earnings can affect SSA benefit payments . Current beneficiaries have lost - and will continue to lose - benefits because of SSA's failure to correctly credit their earnings . In addition ...
Page 21
... eligibility or April 1986 . Table 3.2 : Cumulative Additional Benefits Due Beneficiaries With Uncredited Wagesa The 33 beneficiaries were due higher monthly benefits for an average of 31 months , including a few that exceeded 5 years ...
... eligibility or April 1986 . Table 3.2 : Cumulative Additional Benefits Due Beneficiaries With Uncredited Wagesa The 33 beneficiaries were due higher monthly benefits for an average of 31 months , including a few that exceeded 5 years ...
Page 22
... eligibility or as late as August 1985 . The 62 beneficiaries were due higher monthly benefits for an average of 43 months , including a few for over 5 years . Accumulated payments should have been higher by an average of $ 434 and ...
... eligibility or as late as August 1985 . The 62 beneficiaries were due higher monthly benefits for an average of 43 months , including a few for over 5 years . Accumulated payments should have been higher by an average of $ 434 and ...
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Common terms and phrases
Affect Social Security annual wage reporting Attempts at Resolution backlogs of unreconciled Beneficiaries and Trust Commissioner of Social Congress contacting employers determine discrepant earnings reports discrepant reports Earnings Affect Social earnings amounts Effect of Uncredited Employer Identification employer reports ensure estimates forms W-2 GAO Inquiry Health and Human Human Services identified Inquiry of June interagency agreement internal control Internal Revenue Service IRS records IRS's June 11 magnetic tape million employers missing and discrepant missing or discrepant monthly benefit effect percent Problem and Attempts quarterly Recommendations reconciliation process reconciliation workload Recorded by IRS reported earnings reported to IRS Reporting Differences resolve Response to GAO result Secretary of HHS Security trust funds self-employed self-employment earnings Social Security accounts Social Security Act Social Security Administration Social Security benefits Social Security trust specific SSA and IRS SSA Response SSA's Table tax returns Treasury Uncredited Earnings Affect uncredited wages wage data
Popular passages
Page 68 - ... based upon the exercise or performance or the failure to exercise or perform a discretionary function or duty on the part of a federal agency or an employee of the Government, whether or not the discretion involved be abused.
Page 63 - ... (F) to conform his records to — (i) tax returns or portions thereof (including information returns and other written statements) filed with the Commissioner of Internal Revenue under title VIII of the Social Security Act...
Page 25 - The exact amount of contributions received is not known initially since old-age, survivors, disability, and hospital insurance contributions and individual income taxes are not separately identified in collection reports received by the Treasury Department. Periodic adjustments are subsequently made to the extent that the estimates are found to differ from the amounts of contributions actually payable on the basis of reported earnings.
Page 60 - Treasury by applying the applicable rates of tax under such sections to such wages, which wages shall be certified by the Secretary of Health, Education, and Welfare on the basis of records of wages established and maintained...
Page 4 - Services (HHS) to certify the earnings amounts SSA recorded because Social Security is entitled to retain tax revenues based on that amount only. The law does not specify a time by which earnings for a given year must be certified, and SSA has not certified any since 1978.
Page 40 - Employment tax returns should be retained for at least four years after the date the tax becomes due or is paid, whichever is later.
Page 32 - ... the procedures for voluntary State tax withholding from retired pay of Uniformed Service members after giving notice in the FEDERAL REGISTER. In the event of any such changes, the State will be given 45 days to terminate this agreement. Article IV— Reporting Copies of Internal Revenue Service Form W-2P, "Statement for Recipients of Annuities, Pensions, Retired Pay or IRA Payments.
Page 5 - For 1978-82, years for which employers are no longer required to maintain wage data that could be needed for future reconciliation, SSA could have to return $2.8 of the $7.7 billion to the Treasury, based on SSA's records as of March 1987. An additional $4.9 billion of tax revenue is related to the unrecorded 1983-84 earnings. The Congress may want to specify whether SSA should retain or return to the Treasury such amounts.
Page 3 - Disagreement between SSA organizational components and a reluctance to commit additional resources to address the problem permitted the unresolved reports to increase. In early 1986, after maintaining since 1978 that resolving the differences was IRS'S responsibility, SSA began attempting to resolve reports that IRS did not.
Page 63 - SSA could be inaccurate, resulting in more work later on for SSA, or overpayment or underpayment of Social Security benefits* The FY 1987 budget includes 355 workyears for reconciling problem wage reports. Employers with missing or discrepant reports will be asked by IRS to submit correction forms or provide explanations to SSA. SSA will review the responses, make determinations of the correct wage amounts, and take whatever corrective actions are necessary. This reconciliation work may begin earlier,...