This article originally appeared in the Boston Broadside, a publication of the Boston Chapter of the Society for Technical Communication.

Give Yourself a Social Security Checkup

by Brett W. F. Randolph

The Federal Insurance Contribution Act (FICA) requires employees and their employers to make contributions to Social Security and Medicare. For 1998, the employee Social Security tax rate is 6.2% of the first $68,400 in total earnings. All employee wages are subject to Medicare tax at the rate of 1.45%. Since your employer matches your FICA contributions, it adds up to a whopping 15.3% tax on your income up to $68,400, and 2.9% thereafter. If you’re self-employed, you pay the entire 15.3% yourself.

That adds up to a lot of money! So it’s a good idea to check up on your Social Security account every few years. You can easily verify that your earnings have been properly recorded to establish your benefit amounts, and get a estimate of the benefits available to you and your family.

To request a personalized statement, call the Social Security Administration at 1-800-772-1213 and ask for Form SSA-7004, "Request for Earnings and Benefit Summary." The form is available in English or Spanish. (While you’re at it, also ask for SSA Publication No. 05-10024, "Understanding Social Security." This free booklet is a comprehensive guide to all Social Security programs.)

The request form is simple; it requires little more than your name, address, Social Security number, and the age at which you plan to stop working. After you return the form, you will receive a "Personal Earnings and Benefit Estimate Statement." The statement will show your complete Social Security earnings history and your eligibility for all benefits, including the amounts of your projected retirement benefits, survivors benefits, and disability benefits.

If your records do not agree with the earnings summary that you receive, there is an 800 number to call to report the discrepancy. You can also call if you have general questions about the statement.

Your retirement benefits will be based upon your past and projected future earnings, and your age when you retire. You can claim Social Security retirement benefits as early as age 62, but your benefits will be less than if you wait longer. The statement will show an estimate of your monthly benefit based upon your early retirement at 62, full retirement between the ages of 65 and 67, or delayed retirement at age 70.

The summaries of your Disability and Survivors benefits can also help in your financial planning. Your statement will show the monthly amounts that would be payable to your family members in the event of your death, and the benefit amounts you and your eligible family members would receive if you become disabled.

The Social Security Administration has an Internet web page at www.ssa.gov. It is an excellent source for information about Social Security and Medicare benefits. You can download the "Request for Earnings..." form and other valuable information from the site. Because of network security issues, you cannot request your earnings summary via the site; you must make your request by mail.

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Brett Randolph is a partner in RANDOLPH ASSOCIATES, INC. in Cambridge, Mass. He has placed documentation and training professionals in contract and permanent positions since 1973.