us social security survivor benefit for thai wife

[Pib]

Maybe you are looking for the "growth" in terms of economic growth. Some folks might say "inflate" the debt away. One thing for sure even if talking using the debt or yearly deficit to GDP approach, a very big portion of our taxes each year are now going towards payment of interest on the national debt. Kinda like having a big credit card debt or mortgage loan and only paying the interest and not attempting to pay off the balance. In 2012 the U.S. paid around $220B in interest on the debt...not paying any of the debt down...just paying interest. Anyway, enough discussion for me regarding national debt, yearly deficits, and how certain programs like social security are funded. Cheers.

Edited September 17, 2013 by Pib

[daboyz1]

Pretty odd I've learned more about social security on a Thai Visa website than I have anywhere else.

[mrwebb8825]

The Forbes "article" is actually an opinion piece which is pretty much totally wrong.

By law, the Social Security trust fund is invested in special, interest bearing US Treasury notes. This has been the case since Social Security was established back in the 1930s. No, the money is not deposited in bank accounts or kept under the Social Security commissioner's mattress. It is invested in accordance with law.

Social Security buys the notes, the money paid for the notes goes toward financing the operations of the US Government. In fact, this is how the US Government finances almost everything: by selling notes to investors. The Chinese government. Investment fund managers. Individuals. When the notes become due, Social Security reinvests them and is paid the interest. The US government has never failed to pay interest on notes purchased by Social Security. AFAIK, Social Security has never had to use the trust fund to pay benefits. There has always been enough income from Social Security taxes to pay current benefits and to put some aside in the trust fund.

As the Social Security Trustee's report says, the trust fund will continue to grow until about 2020 at which time Treasury will redeem trust fund assets which will be sufficient to pay full benefits until about 2033.

There is no way that Congress could get its hands on the trust fund because the trust fund is held almost entirely in US Treasury notes.

And, yes, this does mean that Social Security is loaning the trust fund to the US government. But, that's the way it has always been.

No one has ever taken money out of the trust fund and written a worthless IOU for that money. And, yes, the treasury notes are, in effect IOUs, but they are backed by the full faith and credit of the US Government. That's why, when times are tough, investors would-wide turn to US Treasury notes as a safe, if not particularly lucrative investment.

This system of investing the trust fund in Treasury notes has worked well for 80 years. There's never been a loss. There's never been a failure to pay interest.

One thing to keep in mind is that the projections made by the Trustees can change as economic and demographic conditions change. Before the financial crisis of 2007, the trust fund was in pretty good shape. It was then projected that the long term (30 year) shortfall was somewhat less than 1% of payroll. After the crisis Social Security tax revenue fell dramatically due to unemployment and a reduction in the payroll tax. The number of Baby Boomers retiring was higher than expected. As a result, the trust fund is in much worse shape and the long term shortfall is closer to 2.5% of payroll.

It is arguable that full economic recovery will do a great deal to "fix" long term financing problems. In other words, this may not be the time to do anything except wait. There's no reason to reduce benefits or raise taxes now just because we might, just might, have to do so in the future.

Bottom line? I'm optimistic. However, problems with the Medicare and Disability trust funds are much more severe and both perhaps need action in the near term.

I wonder then, if there is some kind of policy in place that would allow you to direct purchase US Treasurary Bonds using your monthly SS check/deposit?

If your monthly benefit was $1,000, could you direct purchase $500 USTB and receive the other $500 in payment?

Since you can purchase USTB at a bank in the states and put them in someone else's name, why couldn't you just purchase them in your wife's name?

Benefits you, your wife AND the US government.

Edited September 18, 2013 by mrwebb8825

[thailand49]

SteveHaigh,

I read your question and I only read a few response to it. I think I can safely say no need to go further pretty much the same stuff no respect to the other posters.

This is a question that requires some professional help for you. My suggestion isn't to push their services because I been through the mill when it comes to hearsay and speculation especially from Thai, when they say I know someone who can speak English and can do this for you.

Well, these people can because I and my brother and many friends from the States who have Thai wives and kids have used their services in the past. These people are Thai raised in Las Vegas and went to school in San Francisco and speak and write perfect English.

There is a ton of things that need to be taken care of especially paper work and based on your needs like it was ours it is all about timing and spending as little time as possible in the States since you live here in Thailand. I started out the same thinking I had to stay a long time but in the end it was no more than a month just a simple vacation since the Social Security numbers came a week or so after we arrived. Once you have the numbers we went home and I came back a year later myself and file my Social Security Claim for everyone! Timing is everything in this situation!

It took me a while to find the card her cell number might be old now but give everything else I provide for you a try.

TSL and Associate (Thailand) Co.LTD. Immigration Law and Visa Specialist

Virginia Ly Email: [email protected] Mobile 0802324111

Head Office Bangkok,, across the Soi from U.S. Embassy

10-132 Sindhorn Building 2nd floor Tower 1

Wireless Road, Lumpini, Patumwan Bangkok 10330

Tel: 022518130 Fax. 022518134 022518135

Website: www.tsithailand.com

The cost isn't much, worth every baht I spent since I was able to go and return in only a month. I save lots of money not having to stay longer than that.

Good luck,

[USNret]

If you are a veteran, your wife would be eligible for VA survivors benefits of about $800.00 a month. In Baht that comes to almost 24,000 Baht a month which would be enough for her to live on. However, this is means tested and she cannot work or remarry. Check with the VFW post closest to where you live.

Can you provide a reference for this? I'm a vet, Navy retiree actually, and have never heard of this.

[thailand49]

If you are a veteran, your wife would be eligible for VA survivors benefits of about $800.00 a month. In Baht that comes to almost 24,000 Baht a month which would be enough for her to live on. However, this is means tested and she cannot work or remarry. Check with the VFW post closest to where you live.

Can you provide a reference for this? I'm a vet, Navy retiree actually, and have never heard of this.

You can go to any Veterans affairs office in your City or nearby. This statement is very general and doesn't apply to all veterans I checked into this for my dad and mom in San Francisco, it basically applies to Veterans who actually served in a War? Just as it is for every veteran not all veterans get Long term care thru the Veterans although many exception are made, again this applies to Veteran who actually served in a time of War? But the best way to confirm this is to take a moment and actually go to the nearest veteran offic.

For the original poster as you can see after 124 plus replies, I wonder how many actually remember the original questions?

Many are talking about death benefits, unless you plan to drop dead soon, you goal based on your question is that once you yourself applies and collects S.S. you want a S.S. for your Thai wife so she can collect each month funds like yourself. Some think you need a Tax I.D. but you got to have the S.S. number and that means you must immigrate your Thai wife to the States to get one and that is your problem. Whether you actually do or do not is for another topic your main concern is how to immigrate her and obtain the number with the shortage of stay. S.S. has a agreement with Bangkok Bank headquarter in New York so if you have a account here in Bangkok Bank in Thailand it makes it even more easier. When time comes just give them the ABA number or Routing number along with your account number and you are set.

All the other stuff being talked about which seems to be 95% has no actually value to what you actually need?

Edited September 19, 2013 by thailand49

[Pib]

Sounds like you are talking about this VA Survivors Pension benefit...but as you mentioned if a person qualifies the benefit is means tested and current income is subtracted from the maximum benefit available when could reduce the benefit to zero. There is a sublink in the link I gave above that shows how to calculated the possible benefit based on the max available per year of $7,074 for 2005 (maybe that max is higher now). There is also a form showing the difference kinds of income/investments/pensions a person must list like social security. If the means test show the survivor is already getting at least $7,074 per year from other sources/investments/retirement pensions/etc., then the VA Survivors Pension benefit would be zero.

Probably a surviving spouse would be getting the Social Security Survivors benefit which would be half of the deceased spouse's full social security or an amount equal to the deceased spouse's social security payments upon on death...expect that SS amount would exceed the possible max amount available from the VA's $7,074/year (or whatever it is now in 2013) benefit thereby the means test would prevent receipt of the VA benefit. But everyone should always research this on their own and contact the relevant govt agencies to be sure due to all the fine print, possible special provisions/exemptions, etc.

[Leung Falang]

I assume since they had kids together this proved they had a real relationship and they allowed her to get the benefits or the benefits was just for the children. I Don't know if you have any children, if so then the child if under the age of 18 might be eligible for some benefits. I do recall his wife at the time

telling me something about needing to be in the US for 5 years but they waved that.

The "five year rule" that you're talking about only applies to non-US Citizens who are outside of the US. No one "waived" the rule, it simply did not apply because she was physically in the US. Having kids with the guy had nothing to do with it.

The US Treasury has foreign direct deposit arrangements with many countries, but not with Thailand. You can do this with a Bangkok Bank account by having your payment deposited in their New York branch. They will automatically transfer the funds to your local Thai account. However, if you set this up with Bangkok Bank you will not have access to the funds via ATM or online. You have to visit the bank branch each month to get your money. There are ways around this.

Social Security has an office in the Embassy in Manila. They are responsible for processing applications for benefits throughout much of Asia. Most applications are handled over the telephone. Even if you go through the embassy in Bangkok, the application will be processed by the office in Manila.

BTW, I worked for US Social Security for 30 years. During that long career I never once encountered anyone who "paid in the maximum". Many people thought or claimed that they had, but I never, ever saw it. I'm not saying it never happens, but I never saw it.

I thought I might make the max, but since I retired at 56 and change, the first 3 years were each a little short, but since that extra money, $84 a month average, was only affected the pension at 15%, it ended up being miniscule, say $12. Indexed earnings were $2,197,449, divided by 420 months, = $5,232 indexed average (not a real average). If I had waited until I was 66, the pension would have been $1,835 but I took it earlier.

[stevehaigh]

i just got a reply from SSA in Manila

'

Good day,

In the event of your death, your wife may file for the lump sum death payment – a one-time payment of $255.

Your wife will be eligible to survivor’s benefits (monthly benefits) at age 60. However, if she is not a U.S. Citizen and has not lived in the U.S. for at least five years while married to you, she will not be paid benefits while living in Thailand.

All applications for benefits may be filed through SSA Manila. She may reach us by mail, email, fax or phone. Please see our contact information below.

Address: Social Security Administration, American Embassy, 1201 Roxas Boulevard, Ermita, 0930 Manila, Philippines

Email: [email protected]

Telephone: 63-2-3012000 option 9

Fax: 63-2-7089714'

so it looks like no can do

[daboyz1]

i just got a reply from SSA in Manila

'

Good day,

In the event of your death, your wife may file for the lump sum death payment – a one-time payment of $255.

Your wife will be eligible to survivor’s benefits (monthly benefits) at age 60. However, if she is not a U.S. Citizen and has not lived in the U.S. for at least five years while married to you, she will not be paid benefits while living in Thailand.

All applications for benefits may be filed through SSA Manila. She may reach us by mail, email, fax or phone. Please see our contact information below.

Address: Social Security Administration, American Embassy, 1201 Roxas Boulevard, Ermita, 0930 Manila, Philippines

Email: [email protected]

Telephone: 63-2-3012000 option 9

Fax: 63-2-7089714'

so it looks like no can do

Interesting. I wonder if the wife has to be a citizen living in the U.S. for 5 years, or simply living in the U.S. for 5 years? I ask because my wife has been living in the U.S. for almost 5 years, but she's only been a citizen for a year.

[ubonjoe]

If she is US citizen the 5 years does not apply. Only non citizens have to meet the 5 year requirement.

[yankee99]

A little off topic but i think better then starting a new thread......

Turning 62 will i need to remove myself as director of a thai corporation. I am under the assumption that if you remain the director of a corp you can lose your benefits?

[Langsuan Man]

A little off topic but i think better then starting a new thread......

Turning 62 will i need to remove myself as director of a thai corporation. I am under the assumption that if you remain the director of a corp you can lose your benefits?

How in the world would US Social Security know that you were a director of a Thai Corporation here in Thailand ?

[yankee99]

A little off topic but i think better then starting a new thread......

Turning 62 will i need to remove myself as director of a thai corporation. I am under the assumption that if you remain the director of a corp you can lose your benefits?

How in the world would US Social Security know that you were a director of a Thai Corporation here in Thailand ?

I agree but one must way the risk right? If they find out and you are not allowed you could lose your benefits.

[Langsuan Man]

Once again what risk ?

Even if you are a millionaire you get the Social Security that you paid into. The only thing that will effect your monthly benefit amount is if you are still working and then there is a sliding scale which determines how much you get based upon how much you are currently making in wages that are subject to Social Security tax. Investments, like stocks and bonds, rents, royalties and other income are not factored into your Social Security benefits

I would suggest a visit to the Social Security web site to learn a bit more about how it works

http://www.ssa.gov/

[yankee99]

Yes if you dont take early retirement then no risk. If i believe 67 or over no risk. There are laws in regards to working and especially owning private companies which were passed as it is easy to hide income.

The question and answer from the ssa gets in detail about your involvement in corps.

[Langsuan Man]

The age is 70 for no restrictions on the amount earned through wages. The 67 you are talking about deals with getting your full SS payout based upon your year of birth. It used to be 65 but was changed several years ago to protect the SS fund by upping the age for full payout

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

Edited October 8, 2013 by Langsuan Man

[ubonjoe]

A little off topic but i think better then starting a new thread......

Turning 62 will i need to remove myself as director of a thai corporation. I am under the assumption that if you remain the director of a corp you can lose your benefits?

You will be asked when you apply if you own a company and etc.

If you are not earning anything then it is not a problem.