Thursday, June 16, 2022

How Can I Qualify For Social Security

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Fact #: Most Elderly Beneficiaries Rely On Social Security For The Majority Of Their Income

How Can I Qualify for Social Security Benefits?

Social Security provides the majority of income to most elderly Americans. For about half of seniors, it provides at least 50 percent of their income, and for about 1 in 4 seniors, it provides at least 90 percent of income, across multiple surveys and the study that matches survey and administrative data.

How To Appeal A Social Security Claim That Has Been Denied

Almost half of all Social Security benefit applications are denied. While the vast majority of these deal with disability benefits, sometimes retirement benefits are denied as well.

Some of the reasons why a retirement benefit application might be denied include:

  • You have not accumulated enough work credits in your work life
  • Your application has missing or incorrect information
  • You submitted your application too early. You cant apply until about four months before you turn 62.
  • You are already receiving Social Security disability benefits. Retirement and disability payments serve the same purpose to provide financial security when a person is not able to work any longer.
  • If you are a surviving spouse, you do not meet the minimum age requirement or you got remarried before you turned 60.

If your benefit application is denied, you must submit an appeal within 60 days after you get a written notice from SSA. To start the appeal process, complete Form SSA-561-U2 Request for Reconsideration. Explain your reasons for seeking reconsideration and submit any additional documentation that will help you make your case to Social Security officials.

The Request for Reconsideration is the first of four possible levels of appeal for Social Security retirement benefits. It is an informal review of your application and in many instances, when new information is submitted or issues are clarified, this level of appeal can lead to a reinstatement or approval of benefits.

How To Receive Federal Benefits

To begin receiving your federal benefits, like Social Security or veterans benefits, you must sign up for electronic payments with direct deposit.

If You Have a Bank or Credit Union Account:

  • Call the Go Direct Helpline at .

If You Don’t have a Bank or Credit Union Account:

Make Changes to an Existing Direct Deposit Account:

Learn how to make changes to an existing direct deposit account. You also may contact the federal agency that pays your benefit for help with your enrollment.

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Lost Or Stolen Federal Payments

Report your lost, missing, or stolen federal check to the agency that issued the payment. It’s usually one of these paying agencies. If your documentation indicates it’s a different agency, and you need its contact information, look in the A-Z Index of U.S. Government Departments and Agencies.

To get an update on your claim, contact the Treasury Department Philadelphia Financial Center at 1-855-868-0151, option 1.

When To Apply For Social Security

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As stated above, you are eligible to apply for Social Security retirement benefits when you are 61 and nine months. You can start collecting benefits as soon as you turn 62.

However, just because you can, does not mean that you should.

The longer you delay starting your benefits, the more your monthly income will be. In fact, the difference in lifetime income between starting at age 62 and waiting until your maximum retirement age can be more than $100,000 and for many people much much more.

While you can start benefits at age 62, the Social Security Administration considers that early. Depending on your birth year, you do not reach what the SSA calls full retirement age until sometime between ages 66 and 67.

  • For every month prior to your full retirement age that you begin taking benefits, around 0.55% is deducted from your payout.
  • And, for every year that you defer your benefits, you will receive a larger amount when you finally do begin drawing Social Security. The amount of the bonus is dependent, once more, on your birth date. For example, someone born in 1944 has a full retirement age of 66. If they start benefits at age 69, they will receive eight percent more benefits for each year they delay.

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What Happens If The Adult Child Gets Married

If he or she receives benefits as a disabled “adult child,” the benefits generally end if he or she gets married. However, some marriages are considered protected.

The rules vary depending on the situation. Contact a Social Security representative at 1-800-772-1213 to find out if the benefits can continue.

1-800-772-1213

To speed up the application process, complete an Adult Disability Report and have it available at the time of your appointment.

How Can I Apply For Social Security At Age 62

Your Social Security eligibility begins during the first full month in which you are age 62, which is the month after your birthday in most cases. You can apply for Social Security four months before that date. For instance, if you turn 62 in May, you can apply in February to begin receiving benefits from Social Security in June.

There is an important exception to this guideline. People with birthdays that fall on the first or second day of the month can begin receiving benefits during the month in which their birthday falls. For these individuals, an example would look like this:

    You can apply for Social Security online or visit your local Social Security Administration office to apply for benefits.

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    If Your Spouse Also Worked Under Social Security

    If your spouse is eligible for retirement benefits on their own record, we will always pay that amount first. But, if the spouses benefit that is payable on your record is a higher amount, they will get a combination of the two benefits that equals the higher amount.

    If your spouse will also receive a pension based on work not covered by Social Security, such as government or foreign work, their Social Security benefit on your record may be affected.

    Benefits For A Disabled Child

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    A child under age 18 may be disabled, but we don’t need to consider the child’s disability when deciding if he or she qualifies for benefits as a dependent. The child’s benefits normally stop at age 18 unless he or she is a full-time student in an elementary or high school or is disabled.

    Children who were receiving benefits as a minor child on a parents Social Security record may be eligible to continue receiving benefits on that parents record upon reaching age 18 if they are disabled.

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    Were There When You Get Your First Job

    Every time you change jobs, your employer verifies your Social Security number with us. Doing so helps reduce fraud and improves the accuracy of your earnings records, ensuring you get the benefits you have earned.

    Employers collect FICA, or Federal Insurance Contributions Act withholdings, and report earnings electronically to us. This is how we track your earnings and is how you earn Social Security retirement, disability, spouses, and survivors coverage for you and your family. A worker earns up to four Social Security credits each year and needs 40 credits, or 10 years of work, to qualify for retirement benefits. Its vital that you work at least 10 years to qualify for Social Security benefits to be based on your own work record.

    Opening a free allows you to verify your earnings history and see if you will get Social Security retirement benefits. A secure also lets you estimate future benefits.

    Social Security Entitlement Requirements

    Many people who are eligible for Supplemental Security Income may also be entitled to receive Social Security benefits. In fact, the application for SSI benefits is also an application for Social Security benefits. We often need to obtain additional information from the person before we can award Social Security benefits.

    The following sections provide information on who may be entitled to Social Security benefits.

    TO BE ELIGIBLE FOR SOCIAL SECURITY BENEFITS AS A WORKER YOU MUST BE:

      Age 62 or older, or disabled or blind and

      “Insured” by having enough work credits.

    For applications filed December 1, 1996, or later, you must either be a U.S. citizen or lawfully present alien in order to receive monthly Social Security benefits.

    HOW MUCH WORK DO YOU NEED TO BE”INSURED”?

    We measure work in “work credits”. You can earn up to four work credits per year based on your annual earnings. The amount of earnings required for a work credit increases each year as general wage levels rise.

    To be eligible for most types of benefits , you must have earned an average of one work credit for each calendar year between age 21 and the year in which you reach age 62 or become disabled or blind, up to a maximum of 40 credits. A minimum of six work credits is required, regardless of age.

    The rules are as follows:

    Born After 1929
    40

    WHO CAN RECEIVE BENEFITS ON YOUR EARNINGS RECORD?

    If you are receiving retirement or disability benefits, your spouse may qualify if he or she is:

    Back

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    How Common Is It For Beneficiaries To Return To Work

    Both Disability Insurance and Supplemental Security provide incentives for beneficiaries to work. Disability Insurance beneficiaries are encouraged to work up to their full capacity and can earn an unlimited amount for up to 12 months without losing any benefits. Beneficiaries who work for more than 12 months and have earnings above the substantial gainful activity level cease to receive a monthly benefit. If at any point in the next five years their condition worsens and they are not able to continue working above the substantial gainful activity level, however, they are eligible for expedited reinstatement of their benefits. This means they do not need to repeat the entire, and typically lengthy, disability-determination process that they initially went through to qualify for benefits.

    Supplemental Security beneficiaries who are able to work are encouraged to do so as well. Their benefits are reduced based on their earningsafter the first $85 of earnings each month, which is not counted against the benefitbut by only $1 for every $2 of earnings. Beneficiaries who are able to do some work will therefore always be better off with both earnings and a reduced benefit than just the benefit alone.

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    How To Apply For Social Security Benefits At Age 62

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    • If you are planning to retire at age 62, Social Security benefits can help to fund this dream. Here are some facts about early applications for Social Security.

    Early retirement is a dream for many people. Social Security benefits can be an important way of achieving that dream. Understanding the application process and the consequences of early retirement on your Social Security benefits can help you make the most practical decisions about this source of income in retirement.

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    How To Qualify For Social Security Retirement

    How to qualify for social security retirement? Workers qualify for Social Security retirement benefits when they reach 40 lifetime credits. In 2022, $1,510 in income from covered employment work in which you paid Social Security taxes equals one work credit. You can reach your four-credit maximum by earning at least $6,040 for the year.

    How many years do I have to work to get Social Security retirement? Anyone born in 1929 or later needs 10 years of work to be eligible for retirement benefits.

    Can a person who has never worked collect social security? The only people who can legally collect benefits without paying into Social Security are family members of workers who have done so. Nonworking spouses, ex-spouses, offspring or parents may be eligible for spousal, survivor or childrens benefits based on the qualifying workers earnings record.

    How many quarters do you have to work to get Social Security? You must earn at least 40 Social Security credits to qualify for Social Security benefits. You earn Social Security credits when you work and pay Social Security taxes. The number of credits does not affect the amount of benefits you receive.

    Specifics Of Receiving Ssdi Benefits

    SSDI benefits are meant to replace a portion of a workers annual salary. The more you earned, the higher your benefit, up to a certain limit.

    If you are approved for SSDI benefits, you receive a monthly check. The Social Security Administration calculates your monthly benefits by using a complicated formula that takes into account your age when you became disabled, how long you worked and your average amount of earnings during your working years.

    Benefits are paid out in monthly checks that range from just under $1,000 for those who were making less than $20,000 a year to slightly more than $2,400 for those who were making more than $107,000 a year. The average monthly check is about $1,111.

    The amount you receive also is affected by the number of credits you earned during your employment. Workers can receive up to four credits a year, based on earnings. In 2013, for example, workers receive one credit for every $1,160 earned. The amount changes every year, and the credits you earn remain on your Social Security record even if you change jobs or no longer work. Depending on your age, there is a minimum number of credits needed to receive SSDI benefits, but no maximum.

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    Were There When You Get Married

    Whether youre celebrating your anniversary or starting a new chapter alone or with a new spouse, a part of that new life may include a new name. If you legally change your name due to marriage, divorce, or any other reason, let us know so you can get an updated Social Security card and so we can accurately keep track of your earnings. Theres no charge for a.

    Workers Who Die Before Age 62

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    The minimum age to start claiming Social Security retirement benefits is 62. If someone dies prematurely, then dependent children and spouses may be entitled to survivor benefits. At age 60, for example, widows and widowers can begin receiving Social Security benefits based on their deceased spouses earnings record . Terminally ill patients can apply for Social Security Disability Insurance , which means they will still receive some benefit from their contributions to the system.

    What if you are terminally ill and have reached the minimum retirement age? If you are single, claiming right away may be the most sensible strategy. However, if you have a spouse, postponing may provide your spouse with greater benefits. The spousal benefit can be as much as 50% of the worker’s benefit, depending on the spouse’s age at retirement and if the spouse is eligible for retirement benefits based on their own earnings record. The Social Security Administration has an online calculator that helps determine benefits for spouses.

    If you do not qualify for Social Security payments, then you will need to ensure that you have sufficient income to support your lifestyle in retirement.

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    What Are The Functional Criteria For Ptsd

    Once the existence of PTSD is established, you must exhibit how your PTSD limits your mental functioning and your ability to function independently. The SSA will determine the degree to which your PTSD affects your ability to work based on four areas of mental functioning. These include your ability to:

    • Understand, remember, or apply information.
    • Interact with others.
    • Concentrate or maintain pace.
    • Adapt or manage oneself.

    The SSA will consider the frequency of difficulty you would experience when attempting to perform these activities and whether you could function without help or supervision.

    To satisfy the criteria, you must have either one extreme limitation or two marked limitations in these areas. To measure the four areas of mental functioning and determine the degree of your limitations, the SSA will use a five-point rating scale.

    When Can You File For Social Security

    The earliest when you can apply for Social Security benefits is at age 61 and nine months, and you can expect to receive your first payment four months laterthe month after your birthday. Typically, Social Security benefits are paid the month after they are due or must be specified. For example, the Social Security website states that an individual who wants their benefits to start in May will receive their first benefit check in June.

    For example, if you turn 62 on Dec. 15, then your first full month of eligibility is January, and your payment for that month will arrive in February. If you have already reached age 62 and met all other eligibility criteria, then you may begin collecting benefits in the same month when you apply if you specify, although your first payment still would not arrive until the following month.

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    How Do I Apply For Supplemental Security Income

    Supplemental Security Income , we pay SSI disability benefits for the first full month after the date you filed your claim, or, if later, the date you become eligible for SSI. You can apply for Disability benefits online, or if you prefer, you can apply by calling our toll-free number, 1-800-772-1213.

    Fact #: Social Security Provides A Guaranteed Progressive Benefit That Keeps Up With Increases In The Cost Of Living

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    Social Security benefits are based on the earnings on which you pay Social Security payroll taxes. The higher your earnings , the higher your benefit.

    Social Security benefits are progressive: they represent a higher proportion of a workers previous earnings for workers at lower earnings levels.

    Social Security benefits are progressive: they represent a higher proportion of a workers previous earnings for workers at lower earnings levels. For example, benefits for a low earner retiring at age 65 in 2020 replace about half of their prior earnings. But benefits for a high earner replace about one-quarter of prior earnings, though they are larger in dollar terms than those for the low-wage worker.

    Many employers have shifted from offering traditional defined-benefit pension plans, which guarantee a certain benefit level upon retirement, toward defined-contribution plans s), which pay a benefit based on a workers contributions and the rate of return they earn. Social Security, therefore, will be most workers only source of guaranteed retirement income that is not subject to investment risk or financial market fluctuations.

    Once someone starts receiving Social Security, their benefits increase to keep pace with inflation, helping to ensure that people do not fall into poverty as they age. In contrast, most private pensions and annuities are not adjusted for inflation.

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