Social Security

Social Security retirement benefits can be considered an inflation-adjusted life annuity. Therefore it has a close connection to withdrawal strategies during retirement, as well as immediate annuities.

The best source of information about Social Security can be found at the site social security on-line. The site has convenient links to the primary concerns of the average citizen which include:


 * 1) Your Social Security records
 * 2) Retirement
 * 3) Medicare
 * 4) Disability & SSI
 * 5) Widows, widowers & other survivors
 * 6) Get help with your situation

Details on how the retirement benefit is computed can be found at Your Retirement Benefit: How It Is Figured.

Other source materials from the Social Security Administration include:


 * The Social Security Handbook (Table of Contents)
 * A Glossary of Social Security Terms

Vanguard has a Plain Talk Publication on Social Security:Understanding your social security benefits.

Planning Social Security Benefits
Bud Hebeler's site analyzenow contains excellent resources on planning social security benefits. The Articles section contains a segment on Social Security where the timing of taking Social Security benefits is considered. The Free Programs section provides Social Security Spreadsheets.

See also:
 * Where can a 70-year-old buy the least expensive life annuity by John P. Greaney
 * Social Security Benefits Handbook / What You Want To Know - What You Need To Know A free online version of The Social Security Benefits Handbook by Stanley Tomkiel III

Calculators
The Social Security Administration maintains several benefits calculators to estimate your potential benefit amounts using different retirement dates and levels of future earnings. In order of ease-of-use.


 * Quick Calculator - This calculator gives you a simple, rough estimate when you input your date of birth and this year's earnings.
 * Retirement Estimator - Produces estimates that are based on your actual Social Security earnings record.
 * Online Calculator - Input your date of birth and your complete earnings history to get a benefit estimate. You may project your future earnings until your retirement date.
 * Detailed Calculator - This calculator provides the most precise estimates. It must be downloaded and installed on your computer.

Program Operations Manual System (POMS)
The Program Operations Manual System (POMS) is the internal operating instructions used by SSA field employees when processing claims for Social Security benefits.


 * The Program Operations Manual System

To help decode the POMS, you will need:
 * List of Most Common Beneficiary Identification Codes
 * Acronyms Related to Computations - Glossary

Taxation
The tax aspects of Social Security benefits are laid out in IRS Publication 915 (2006), Social Security and Equivalent Railroad Retirement Benefits.

Regulations

 * Social Security Administration Program Policy Information, which includes
 * Social Security Program Rules Home Page
 * Links to Current Laws & Regulation
 * The Code of Federal Regulations (Social Security Section) (see section 404)
 * The Social Security Law [42 USC Chapter 7] (Also here)

Papers

 * Jennings, William W., and Reichenstein, William, "Estimating the Value of Social Security Retirement Benefits" (August 20, 2001) Available at http://www.williamjennings.com/files/WR%20Social%20Security%20www%20Aug2.pdf
 * Kaplan, Richard L., "A Guide to Starting Social Security Benefits" (July 31, 2008). Journal of Retirement Planning, July-August 2008. Available at SSRN: http://ssrn.com/abstract=1192902
 * Mahaney, James I., and Carlson, Peter C., "Rethinking Social Security Claiming in a 401(k) World", PRC WP 2007-18 Pension Research Council Working Paper (August 2007). Available at http://www.globalaging.org/pension/us/socialsec/2007/world.pdf
 * Richardson, David P.. "Social Security: Factors Affecting The Decision Of "When To Begin" Benefits", TIAA-CREF Institute, December 2008. Available at http://www.tiaa-crefinstitute.org/pdf/research/trends_issues/tr120108.pdf