Social Security Payments and Updates Quiz

Why is it important to know the exact date of your Social Security payment?

• To plan vacations

• To increase your benefits

• To avoid paying taxes

• To ensure financial stability

What is one of the proposed changes to Social Security discussed in the video?

• Eliminating Social Security taxes

• Raising the income cap on payroll taxes

• Increasing benefits for all recipients

• Decreasing the retirement age

If your birthday falls between the 1st and the 10th of any month, when will your Social Security payment be deposited in March?

• March 1st

• March 12th

• March 19th

• March 26th

What significant change does the Social Security Fairness Act bring for public sector retirees?

• Introduces new taxes

• Increases the retirement age

• Eliminates penalties from WEP and GPO

• Reduces Social Security benefits

What was the percentage increase in the cost of living adjustment (COLA) for 2025?

• 1.5%

• 2.0%

• 2.5%

• 3.0%

What is the earnings limit for individuals under full retirement age in 2025?

• $40,000

• $30,000

• $23,400

• $20,000

What happens if you earn above the earnings limit while collecting Social Security?

• You receive a bonus

• You are exempt from taxes

• SSA withholds $1 for every $2 earned above the limit

• Your benefits are increased

What should you do if you receive a suspicious call claiming to be from the Social Security Administration?

• Ignore the call and do nothing

• Hang up and contact SSA directly

• Provide your bank details immediately

• Call the police

What is a recommended action to take if your Social Security payment is delayed?

• Ignore the delay

• Visit the SSA office in person

• Wait three business days before contacting SSA

• Call SSA immediately

What is a simple financial tip mentioned to help maintain stability?

• Take out a loan

• Spend more on essentials

• Invest in stocks

• Track your expenses