The cost of providing services to illegal immigrants is largely offset by the economic benefits they generate, according to a new analysis by the investment research company Standard & Poor’s. Unfortunately, those who pay the costs don’t always reap the benefits. The undocumented workers can’t claim the Social Security benefits they have earned, creating a windfall for the system…

In 2003, $7.2 billion in taxes were credited to the trust fund based on wage items placed in the suspense file, according to Social Security Administration. This represented about 1.3 percent of total payroll taxes credited to the trust funds. The $7 billion amount has been holding relatively steady in recent years.

See full San Francisco Chronicle story here:

Share this article with

The answer is a qualified yes — if you set up a segregated account, according to this L.A. Times article:

Social Security benefits are generally protected against garnishment, levy or bankruptcy proceedings as long as money is “still identifiable as Social Security benefits in a bank account where the only payments into the account are from direct deposit.”

There are some exceptions to the creditor protection:

• The Internal Revenue Service can seize an account to collect unpaid federal taxes.
• The account can be garnisheed to enforce child support or alimony obligations.
• The state can be reimbursed for interim assistance to Supplemental Security Income recipients. (SSI is the Social Security disability program.)

Also, the protection may not prevent a creditor from trying to raid your account — it just provides a remedy in case such an attempt is made.

See full details here:

Share this article with

The Veterans Disability Benefits Commission is set to decide today whether information will be gathered about the level of Social Security Disability Insurance veterans get.

See Story here:

Share this article with

Those who oppose appropriate medicines for children who truly need them would have us go back to the “good old days” when children with ADHD were simply allowed to fail. ADHD is a neurobiological disorder of the brain that causes great suffering for children who have it. If the illness were diabetes, would we be having the same discussion?

Full text:

Share this article with

“…there is good news on the program’s long-term health. But don’t expect to hear President Bush talking about it. His main comment on the new report is that the system is “going broke.” He apparently still wants people to believe that their only options are ending up with nothing from the government in old age or relying on financial markets.”

Read Editorial Here:

Share this article with

The Christian Science Monitor headlines a story that Social Security might work fine unchanged for the next 75 years, able to provide pensioners their full monthly checks, the disabled their disability payments, and widows and orphans their needed funds. Widespread suspicion that the Bush administration is not above slanting statistics in politically sensitive areas (the budget, Medicare), has prompted Social Security experts to take a hard look at the assumptions in the trustees’ annual report.

See full story here:

Share this article with

Vets’ Commission Chair, General Terry Scott wants to study if vets should get VA disability and Social Security disability at the same time, with the aim of reducing benefits. Currently a vet is eligible for both.

Larry Scott notes: The next step in dismantling veterans’ benefits could be a payment reduction, known as an offset, for veterans receiving disability compensation and Social Security.

The Veterans’ Disability Benefits Commission (VDBC) was established by Public Law 108-136 and signed into being by President Bush in November 2003. The VDBC’s charter states they are to study “whether a veteran’s disability or death should be compensated” and at what level if any.

See complete comments and story here:

Share this article with

The Social Security trustees’ report provides an overview on the state of Social Security and projections for the program’s finances for the next 75 years. This year’s report shows that the country’s premier social insurance program is safe for decades to come.

Full story here:

Share this article with