Spouses who didn’t work or who didn’t earn enough credits to qualify for Social Security on their own can receive benefits starting at age 62 based on their spouse’s work record. Similar to claiming benefits on one's own record,a spouse's benefitwill be reduced if they claim benefits ...
How to find out what your Social Security benefits will beSusan Bondy
1. Retirement Benefits: Retirement benefits are the most common type of Social Security benefits. These benefits are available to individuals who have reached the age of 62 or older and have accumulated enough work credits. The amount of retirement benefits you receive is based on your earnings h...
It’s also important to understand that the money you pay into the program isn’t held in an account designated for you and from which you will receive benefits later. These funds are paid out to current recipients, with the remainder put into the trust fund for later disbursement. How muc...
Also, if you are divorced, your ex-spouse may receive Social Security benefits when you die, if he or she meets several requirements, including having been your spouse for at least ten years. Many economists and demographers have predicted that the way in which Social Security benefits are ...
Some people haven't received all their Social Security benefits, even though they paid into the system. A new law changes that.
It's a good idea to get an experienced special-needs planning attorney involved early in the process – as soon as you know disability is a potential issue – to preserve eligibility for benefits and to protect the family’s assets. Your Social Security office will be able to refer you to...
The program is funded by taxes that employees and employers pay while an individual is working. People who receive these benefits have paid Social Security taxes throughout their working lifetime. In total, the government will shell out about $1.5 trillion this year in Social Security benefits, ...
you may notice a line on your pay stub for Social Security, FICA, or OASDI. These all relate to the same Social Security Tax you must pay and are separate from your federal income tax. The government collects this money to fund the benefits you will eventually receive when you retire and...
If there is no surviving spouse, children of the deceased may instead be eligible for the payment, so long as they qualify to receive benefits on their deceased parent's record when they died. The Social Security Administration should be notified as soon as possible when a beneficiary dies to...