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	<title>Darwin Financial Investing &#187; Financial Planner</title>
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		<title>Early retirements strain Social Security system</title>
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		<pubDate>Sun, 27 Sep 2009 13:05:28 +0000</pubDate>
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		<description><![CDATA[Significant job losses and a spike in the retirement social security rights is rejected force the elderly benefits more than the tax payable for the next two years, collects the first time that has happened since the 1980s. The deficit of 10 billion U.S. dollars in 2010 and 9 billion U.S. dollars in 2011 will [...]]]></description>
			<content:encoded><![CDATA[<p><img class="alignleft" style="border: 0pt none; margin-left: 5px; margin-right: 5px;" src="http://farm4.static.flickr.com/3369/3662749440_9c6ee7a528_m.jpg" border="0" alt="And they reminisce over better days...." hspace="5" width="240" height="160" />Significant job losses and a spike in the retirement social security rights is rejected force the elderly benefits more than the tax payable for the next two years, collects the first time that has happened since the 1980s. The deficit of 10 billion U.S. dollars in 2010 and 9 billion U.S. dollars in 2011 will not affect payments to retirees, because Social Security has increased surpluses from previous years amounting to 2.5 trillion dollars. But they are in deficit by the entire state. Applications for retirement is 23 percent higher than last year, while disability benefits have increased by about 20 per cent. Responsible for social security had been found to increase the growing number of requests for baby boomers retire, but do not expect that the largest increase. What happened? Turn the recession, and many older workers suddenly no place to go, but social security. &#8220;Many people who choose to stay in better times, to withdraw,&#8221; said Alan J. Auerbach, an economist and law professor at the University of California, Berkeley. &#8220;When they were younger, we call it a job. &#8220;<span id="more-56"></span>Job losses are forcing more retirements remain Although a growing number of older people in employment. Many can not afford to retire, especially after the financial collapse destroyed their nest eggs. Some have no choice. Kristina Kish, 62 in December, so they are entitled to put in place earlier. She wants to delay the implementation of social security at least 67, because the longer you wait, the bigger your monthly check. But they must first have a job. Kish lives in the small Concord Township in Lake County, Ohio, northeast of Cleveland. The area was like many others, hit hard by the recession. She was fired a year ago from his position as office manager in an agency and now spend hours every morning cleaning job on the Internet. Neither she nor her husband, Raymond, has purchased health insurance.</p>
<p>&#8220;I want to work,&#8221; she said. &#8220;I have a brain and I want to use.&#8221; Kish is not alone. The proportion of residents of the United States in the 60s working or seeking work has increased since the mid-1990s, according to the Bureau of Labor Statistics. This year, more than 55 percent of people aged 60 to 64 of safety still in the workforce, against about 46 percent a decade ago. Kish said to benefit her husband soon. You must apply, even if they do not find a job quickly. &#8220;We will not starve,&#8221; she said. &#8220;But I want more. I would be able to do more than just my bills.&#8221; Nearly 2.2 million people on social security and pension early of the application year from October to July, compared to nearly 1.8 million during the same period last year.</p>
<p>The increase in early retirement is pain in the short term Social Security finances, already strained by the loss of 6.9 million American jobs. Social Security is the payroll tax, are determined to be funded, because many jobs will be lost. The Congressional Budget Office projects that Social Security collects more rewarding benefits than taxes next year and 2011 will be a first since the early 1980s, when Congress last overhauled Social Security. Excess Social Security is expected again in 2012 before returning finally to affect the deficit in 2016 unless Congress Re-create the program in the country. Without a new adopted, the $ 2.5 billion in the Social Security Trust Fund is exhausted in 2037th These funds were actually spent over the years on other government programs. They are now good and bonds, refunded if the social security work represented his trust fund. President Barack Obama has said he wants to address Social Security next year. &#8220;The thing to remember is that it is unlikely that we (recession) to draw a strong recovery,&#8221; said Kent spectrometer Smet and adjunct professor at the University of Pennsylvania Wharton School. &#8220;This shortage last May over a year or two.&#8221;</p>
<p>About 43 million retirees receive their relatives and social services. Another 9.5 million receiving incapacity. The average monthly benefit for retirees is $ 1,100, while the average disability pension of $ 920. The recession also fueling demands for benefits for disabled people, said Stephen C. Goss, chief actuary of the Social Security Administration. In a typical year, about 2.5 million people apply for disability, including the security of additional income. Applications are expected at the speed of 3 million euros for the year ending this month and others are underway for next year, &#8220;said Goss. Many people are already at work, Despite his request for disability retirement after losing their jobs. &#8220;If a bad recession, and we lost 6 million jobs, people of all sorts, a part of,&#8221; said Goss. Nancy Rhoades, said he feared for the purposes of the disability pension because of their multiple sclerosis. Rhoades, who said in Orange, Virginia, who lives about 75 miles northwest of Richmond, his illness was physically exhausting, but she is proud of the work and care for themselves.</p>
<p>In June, however, had his hours to only 10 weeks, a cut on a community service organization. She lost her health benefits, even if they able to buy insurance through their jobs, for about $ 530 per Mo. &#8220;I&#8217;m going into my retirement allowance for health,&#8221; she said. Her husband turned Wayne, 62 pm Sunday and has applied for Social Security benefits early. He still works part time. Rhoades Nancy was only 56, so they are not entitled to pension six years. It is certain that they would come into question for people with disabilities, but rather to work. &#8220;You think but not what kind of things with you,&#8221; she said. &#8220;They want to be able to work until retirement, even after retirement.</p>
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