Some Social Security beneficiaries that have received overpayments may see that their monthly checks are reduced to zero.
In March, the The Social Security Administration revealed which will increase the default withholding rate of beneficiaries to 100% of the monthly Social Security benefit.
The new payment change to exceed only will affect the new beneficiaries that have received a payment error after March 27. People who have received excessive payment by March 27 will maintain the previous retention rate of ten percent.
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Federal officials sent warnings to people who will have 100% of their provision to the Social Security retained.
People who cannot afford 100% of Social Security can contact Social Security to apply for a adjustment at 1-800-772-1213.
The Federal Office estimates the change of payment to recover about $ 7 billion in the next decade.
Lee Dudek, Social Security Feedman, said that the agency plans to reinstall the Treasure Compensation Program (Superior) to recover the debts due to the state and federal agencies. In March 2020 the upper part was closed due to the financial tension caused by the Covid-19 pandemic.
“Resume collections through the Treasury Compensation Program is a critical step in our commitment to be good administrators of taxpayers’ funds and guarantee the integrity of our programs,” Dudek wrote in a statement. “We dedicate ourselves to recovering over -paid payments while providing people with the information and options needed to deal with their debts.”