A briefing next month at Joint Base San Antonio-Randolph
will untangle the complexities of Social Security benefits and help attendees
understand the options that can maximize their retirement income.
“Social Security and You” will be presented from 10-11:30
a.m. June 1 at the JBSA-Randolph Military & Family Readiness Center by
Oscar Garcia, who retired from the Social Security Administration after a long
career as a public affairs specialist and claims representative.
“It is critical for people to know the role Social Security
benefits will have during their retirement years,” he said. “Social Security is
complex because it presents people with a multitude of options for benefits on
their own record and their spouse’s record. Some people even have additional
options based on an ex-spouse.”
Garcia’s presentation
will address numerous topics, including how to qualify for Social Security
benefits, making the best decision on when to start drawing benefits, options
to maximize benefits, spousal benefits and the ability to work and still
receive benefits.
He will also discuss the different aspects of Medicare,
including the enrollment periods, how coverage works and resources people can
use.
Garcia said Social Security is one of the most importance
sources of retirement income but the one often overlooked until the time people
are ready to retire.
“The majority of people tend to start their Social Security
benefits at an earlier age and, therefore, receive a smaller percentage of it
for the rest of their lives,” he said. “Social Security deserves more attention
because, for most people, it represents one of the top sources of their
retirement income.”
Garcia brings years of experience to the presentation, said
Bobby Williams, JBSA-Randolph M&FRC community readiness consultant.
“He is well grounded in Social Security policy and how the
program works,” he said. “He has the ability to share his knowledge and tell
people how to make Social Security work for them.”
Like Garcia, Williams said the age at which people start
drawing Social Security is an important consideration.
“If you start taking it early, at age 62, you will get 75
percent of what you’d be getting at 66,” he said. “Every year you hold off it
goes up 8 percent. That’s a great return on an investment.”
However, drawing benefits earlier may be necessary because
of health or other reasons, Williams said.
“When to take it depends on the person,” he said. “There are
issues you have to take into consideration.”
Williams said active-duty members and Department of Defense
civilians would benefit from the briefings.
“They all pay into Social Security, so it’s important to
understand how the system works and how to utilize the system to their
advantage,” he said.
Williams said the briefing is not just for those nearing
retirement: Airmen and civilians early in their careers should also learn about
Social Security.
“When you’re young, Social Security is the furthest thing
from your mind, but it’s important to learn about it,” he said. “It’s money
coming out of your pay. You should know what it’s for and how it will benefit
you years later. It becomes an important part of your financial sustainment.”
A Social Security briefing conducted March 9 drew a
standing-room-only audience, so the June 1 session will be held at the
M&FRC ballroom to accommodate more people, Williams said.
Garcia said it’s important for people to know all their
Social Security options.
“Without understanding all these options, people can make a
decision that costs them a considerable amount of money over their lifetime,”
he said. “When to start receiving Social Security benefits will be one of the
biggest retirement decisions people make. The briefing at JBSA-Randolph will
better prepare them for this important decision.”
Call the JBSA-Randolph M&FRC at 652-5321 to register for
the session.