Question

Which type of benefit would be received by the fully abled minor child of a deceased individual who had been retired? A. disability B. retirement C. Supplemental Security Income D. survivors

Short answer

D. survivors

Step-by-step solution

Understanding the Problem

The exercise requires identifying the type of benefit received by a fully abled minor child of a deceased individual who had been retired. Review the options available: disability, retirement, Supplemental Security Income, and survivors.

Analyzing the Options

Examine each option: - Disability benefits are for individuals with a medical condition that limits their ability to work.- Retirement benefits are for individuals who are at least 62 and have stopped working.- Supplemental Security Income (SSI) is for aged, blind, or disabled people with little or no income.- Survivors benefits are given to family members of a deceased individual.

Eliminating Irrelevant Options

Since the minor child is fully abled and the parent is deceased, the options Disability (A) and SSI (C) are irrelevant for this specific case.

Considering the Relevant Options

Compare the remaining options: Retirement (B) and Survivors (D). Retirement benefits are primarily for the retired individual. Survivors benefits are designed for family members, including minor children, of a deceased worker.

Choosing the Correct Answer

Based on the analysis, the correct type of benefit for a fully abled minor child of a deceased retired individual is Survivors benefits.

Key concepts

Survivors Benefits

Survivors benefits are part of the Social Security program in the United States. These benefits are paid to the family members of a deceased worker who has earned enough Social Security credits. They can include minor children, spouses, dependent parents, and sometimes others.
For minor children, survivors benefits provide financial support after the death of a parent. Unlike retirement or disability benefits, which are based on the worker's own situation, survivors benefits help support the family left behind.
Survivors benefits can help cover daily living expenses, educational costs, and other needs.

• Minor children can receive benefits until they reach age 18, or 19 if they are still in school.
• A surviving spouse caring for the child may also be eligible for benefits.

This program aims to reduce the financial burden on families during such challenging times.

Disability Benefits

Disability benefits are provided by Social Security to people who cannot work due to a severe medical condition lasting at least one year or expected to result in death. These benefits are paid from two programs: Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI).
To qualify for SSDI, you must have earned enough work credits through payroll taxes.
SSDI is aimed at workers who become disabled before retirement age.
On the other hand, SSI is for individuals, including disabled children, who have little to no income and resources.

• SSDI benefits depend on your earnings record.
• SSI provides a basic monthly income for people meeting the income and asset criteria.

Supplemental Security Income (SSI)

SSI is a program that offers financial assistance to elderly, blind, and disabled people who have limited income and resources.
This program differs from other Social Security benefits because it is funded by general tax revenues, not Social Security taxes.
SSI benefits provide essential support for individuals who struggle to meet basic needs like food, clothing, and housing.

• Eligibility depends on income, assets, and residency requirements.
• Children can also receive SSI benefits if they meet the criteria.

In contrast to SSDI, you do not need work credits to be eligible for SSI.
This makes SSI crucial for people who have not been able to work or who have worked infrequently.

Retirement Benefits

Retirement benefits are perhaps the most well-known Social Security benefit, providing monthly payments to individuals who have retired from working.
You can begin receiving retirement benefits as early as age 62, with the amount depending on your lifetime earnings and the age at which you start collecting.
Full retirement age (FRA) varies based on your birth year, and waiting until FRA or later can result in higher monthly payments.

• You need at least 40 work credits, generally accumulated over ten years, to qualify.
• Spouses and ex-spouses (if married for at least 10 years) may also receive benefits based on the worker's record.

It's important to plan when to start receiving benefits to maximize the lifetime benefit amount.