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LSDefine
Simple English definitions for legal terms
Social Security statement
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A quick definition of Social Security statement:
A social security statement is a letter from the government that tells you how much money you have paid into social security and how much money you might get when you retire. It also tells you if you are eligible for disability payments. The information in the statement is based on your current income, but it could change if your income changes. You can check your social security statement online.
A more thorough explanation:
A social security statement is a document created by the Social Security Administration for each taxpayer. It provides information about the amount of money the individual has paid towards social security and estimates their payments at retirement. The statement also includes information about eligibility and the amount of disability payments.
For example, if you have been working and paying social security taxes, you will receive a statement from the Social Security Administration that shows how much you have paid in and what your estimated benefits will be when you retire. This statement is important because it helps you plan for your retirement and understand how much money you can expect to receive from social security.
To check your social security statement, you can visit the Social Security Administration's website and create an account. Once you have created an account, you can view your statement online and make sure that all of the information is correct.