I just noticed this but my mom was filling out the section about her finances and she may have made a mistake on one of the questions. I didn’t really double check what she filled it out because I don’t know her finances and I wouldn’t know if she did make a mistake. There’s a section that asks for “Current value of tax-deferred retirement, pension, annuity, and savings plans” and for the amount my mom put “$0”. I’m sure her retirement plan is to draw from her social security but she doesn’t know how much she has saved up. She’s a single mother and we receive no contribution from my dad nor do we have any contact with him. I only had to do this for 1 school and it’s for USC. I’m a transfer student from a CCC.
On the FAFSA, if she is contributing to a qualified retirement accounts such an IRA, 401(k), 403(b), or pension plan, that is, an employer-provided retirement savings plan through which employees request that part of their pay be directly deposited in a tax-deferred investment account, and/or have any savings, then the amount needs to be reported.
@dygibbs i don’t think her employer provides a retirement savings plan.
Social security is not included in that question.
That question is for IRA, TSA and other qualified retirement accounts she might have.