For members who have not yet retired the Social Security Administration has a very valuable benefit that can help in your retirement planning. Each year about three months before your birthday the Social Security Office will send you a statement showing your updated lifetime earnings records and your potential benefits. The earnings record is a chart of all yearly earnings since you began working. This allows you to check earning year by year and to make sure that the Social Security office is giving you credit for all your earnings.
Your yearly statement will also show you estimated Social Security taxes paid by you and your employers during your working career. Along with this is included the total estimated taxes you and your employers have paid for your Medicare.
This yearly statement also includes other important information in your retirement planning. Listed on the statement are your estimated benefits when you decide to retire. This can be used as a planning tool for deciding at what age you may want to retire. Listed are benefits you would receive at age 62 on an early retirement and also benefits if you worked up to full retirement age.
The annual statement will also list benefits for disability, family and survivor benefits. There is a possibility that you may still be able to work and receive Social Security benefits. Information on this benefit is also listed in your statement.
If you have never received an annual statement from Social Security notify them as soon as possible. You may reach them at 1-800-772-1213. A website is also available on the Internet. Social Security can reached at www.ssa.gov/mystatement
The April Welfare Notes column will have more information on using your Social Security as a retirement planning tool.
ANDREW FURUSETH SCOOL OF SEAMANSHIP
The A.F. School has made videotape that demonstrates a variety of eye splices. This video shows an eight strand and a couple of 12-strand eye splices, as well as a six-strand wire eye splice. These videos are available to SUP members and may be obtained by contacting Rich Reed at the S.U.P. Welfare Office.
SUP Welfare Plan
Rich Reed, Welfare Plan Representative
450 Harrison Street
San Francisco, CA 94105