Current Weather Conditions

 
Seven Day Forecast for Emporia, Virginia
 

Social Security Administration

What Can You Teach Your Grandchild About Social Security?

By Inez N. Loyd, Social Security Public Affairs Specialist in Norfolk, VA

Grandparent talking to grandchild.

One of the greatest gifts you can give a grandchild is the gift of financial literacy. Helping them save money early in life and showing them how to make wise spending decisions goes a long way toward a bright financial future. As they get older, they may want to save for special purchases or their college education. You can encourage them when they get their first job to begin saving for the future, including their retirement.

Planning for the Future with my Social Security

When you celebrate their graduation from high school, you can also remind them to set up a my Social Security account. They need to be age 18 or older, have a U. S. mailing address and a valid email address, and have a Social Security number. And while their retirement is many years away, you can explain the importance of reviewing their earnings record each year since Social Security uses the record of earnings to compute their future benefits. As they start their first major job and begin saving, they’ll be able to monitor the growth of the estimates of benefits available to them. You can access my Social Security at www.socialsecurity.gov/myaccount.

Saving For Retirement with myRA

The U. S. Treasury recently introduced a retirement savings account for a simple, safe, and affordable way to save for retirement. It’s perfect for people whose employer doesn’t offer a savings plan. There are no costs or fees to open and maintain a myRA account. The account won’t lose money and is backed by the U. S. Treasury. The individual chooses the amount to save. The account is portable and moves with them from job to job. The account owner can withdraw the money they put in without tax or penalty. You can learn more about myRA at www.myra.gov.

Share How Social Security Works

You can share your knowledge about Social Security with your young savers by explaining how the program works and how it has worked for you. About 96 percent of all Americans are covered by Social Security. Social Security is financed through workers’ contributions , which are matched by their employers. We use the contributions to pay current benefits. Any unused money goes into a trust fund. Nearly all working people pay Social Security taxes and about 61 million people receive monthly Social Security benefits. About 42 million of those beneficiaries are retirees and their families. Encourage them to watch our Social Security 101 video at www.socialsecurity.gov/multimedia/webinars/social_security_101.html.

Share Your Retirement Stories

Social Security replaces about 40 percent of an average worker’s income, but financial planners suggest that most retirees need about 70 percent to live comfortably in retirement. Americans need more than Social Security to achieve that comfortable retirement. They need private pensions, savings, and investments. That means starting to save early and monitoring your Social Security record for accuracy. You can share lessons from your own life about saving and planning for retirement. Remember, the best place anyone of any age can visit for quick, easy information about Social Security is www.socialsecurity.gov.

Your personal stories about how you prepared for retirement and what role Social Security plays can help them see what is needed for a secure financial future. Give them the gift of financial literacy today.

Social Security Helps Small Business

By Inez N. Loyd
Social Security Public Affairs Specialist in Norfolk, VA

Two business owners smiling and looking at a laptop computer.

Social Security is one of the cornerstones of financial security for the nation. So are small businesses. Millions of Americans own and operate small businesses, making the “mom and pop” shop — from retailers to restaurants — one of the nation’s most valuable resources. National Small Business Week started on April 30, making this a perfect time to tell you more about how Social Security helps this not-so-small industry.

Small businesses can take advantage of our Business Services Online suite of services. These services allow organizations, businesses, individuals, employers, attorneys, non-attorneys representing Social Security claimants, and third-parties to exchange information with Social Security securely over the internet. For small business owners, we’ve made it especially easy to file W-2s online to help ensure the privacy of their employees’ personal information.  You can register and create your own password to access Business Services Online at www.socialsecurity.gov/bso

Social Security’s Office of Small and Disadvantaged Business Utilization (OSDBU) was established in October 1979 pursuant to Public Law 95-507. The law assigned the office the task of fostering the use of small and disadvantaged businesses as federal contractors. To accomplish this, the OSDBU develops and implements appropriate outreach programs aimed at heightening the awareness of the small business community to the contracting opportunities available within Social Security.

Outreach efforts include activities such as sponsoring small business fairs and procurement conferences, as well as participating in trade group seminars, conventions, and other forums that promote the utilization of small and disadvantaged businesses as contractors.

The OSDBU encourages buyers and program officials to consider small businesses, and to support all the socio-economic contracting programs in place under the Federal Acquisition Regulations.

You can learn more about the OSDBU at www.socialsecurity.gov/agency/osdbu.

Business is booming in America, and you might be a part of the job-creating machine that we call small businesses. You’re strengthening everybody’s future, for today and tomorrow.

Subscribe to RSS - Social Security Administration

Emporia News

Stories on Emporianews.com are be searchable, using the box above. All new stories will be tagged with the date (format YYYY-M-D or 2013-1-1) and the names of persons, places, institutions, etc. mentioned in the article. This database feature will make it easier for those people wishing to find and re-read an article.  For anyone wishing to view previous day's pages, you may click on the "Previous Day's Pages" link in the menu at the top of the page, or search by date (YYYY-M-D format) using the box above.

Comment Policy:  When an article or poll is open for comments feel free to leave one.  Please remember to be respectful when you comment (no foul or hateful language, no racial slurs, etc) and keep our comments safe for work and children. .Comments are moderated and comments that contain explicit or hateful words will be deleted.  IP addresses are tracked for comments. 

EmporiaNews.com serves Emporia and Greensville County, Virginia and the surrounding area
and is provided as a community service by the Advertisers and Sponsors.
All material on EmporiaNews.com is copyright 2005-2016
EmporiaNews.com is powered by Drupal and based on the ThemeBrain Sirate Theme.

Submit Your Story!

Emporia News welcomes your submissions!  You may submit articles, announcements, school or sports information using the submission forms found here, or via e-mail on news@emporianews.com.  Currently, photos and advertisements will still be accepted only via e-mail, but if you have photos to go along with your submission, you will receive instructions via e-mail. If you have events to be listed on the Community Calendar, submit them here.

Contact us at news@emporianews.com
 
EmporiaNews.com is hosted as a community Service by Telpage.  Visit their website at www.telpage.net or call (434)634-5100 (NOTICE: Telpage cannot help you with questions about Emporia New nor does Teplage have any input the content of Emporia News.  Please use the e-mail address above if you have any questions, comments or concerns about the content on Emporia News.)