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Social Security Becoming "Federal Benefit Payments"-Investigation Pending!

Social Security Becoming “Federal Benefit Payments”-Pending Investigation!

Summary of eRumor:
 
This is a forwarded email alleging that the Social Security checks sent to recipients are referred to as “Federal Benefit Payments.”
The Truth:
TruthOrFiction.Com has not found any evidence of the term “Federal Benefit Payment” being currently used on any publications or website of the Social Security Administration.   It is possible that the term has been used by other government agencies to collectively describe payments sent by the U.S. Department of the Treasury.
In our investigation, we located the term “Federal Benefit Payment” on a resource page of the website Answers.USA.gov.  At the bottom of this page was a notice that said, “USA.gov is the U.S. government’s official web portal.”


Screenshot from Answers.USA.gov
Background

The term “Federal Benefit Payment” was originally coined by the Social Security Administration (SSA) and elected leaders in the 1930’s, when the government program was first introduced.

We know the following about Social Security payment, according to a publication found on the website of the the SSA:
Social Security is part of the retirement plan of almost every American worker.
In order to qualify for retirement benefits, a number of credits are needed, depending on the age of the worker.  For example, if a worker was born in 1929 or later, a total of 40 credits is needed, which is approximately equivalent to 10 years of employment with regular payments to the SSA deducted from their pay checks
The SSA benefit payment is based on how much is earned during the course of the individual’s  working career.  The higher the lifetime earnings, the higher the benefit payment would be.
Benefits can be collected when a minimum age is achieved, depending on when the individual was born. We found the chart below on the SSA publication  “Understanding the Benefits” :


From SSA publication: “Understanding the Benefits”

Most Social Security payments are now sent to recipients by means of direct deposit but a spokesperson from the SSA told TruthOrFiction.Com that if a check needs to be cut then it is mailed from the Department of the Treasury.

We have a call into the SSA to inquire of a name change.
We have also contacted the Department of the Treasury asking if they are printing “Federal Benefit Payment” on the recipients’ checks.
We will post findings here when they develop.
Posted 03/28/14