Retirement, survivors, and disability insurance, commonly known as Social Security benefits, is a federal program in the United States that provides financial support to individuals and their families in case of retirement, disability, or death. This program is managed by the Social Security Administration (SSA) and is funded through payroll taxes. In order to receive these benefits, individuals must meet certain eligibility requirements. Let’s take a closer look at who is eligible for retirement, survivors, and disability insurance.
Retirement Benefits Eligibility
Retirement benefits are available to individuals who have worked and paid Social Security taxes for a certain number of years. To be eligible for retirement benefits, you must meet the following criteria:
Age Requirements
The most common way to qualify for retirement benefits is by reaching the full retirement age (FRA). The FRA is between 65 and 67 years old, depending on your year of birth. You can receive reduced benefits as early as age 62, but your monthly payments will be lower.
Employment History
You must have earned a certain number of work credits to be eligible for retirement benefits. Work credits are based on your annual earnings and you can earn a maximum of four credits per year. In 2021, you need to earn $1,470 in covered earnings to get one work credit and you need 40 credits (or 10 years of work) to be eligible for retirement benefits.
Residency and Citizenship
To receive retirement benefits, you must be a U.S. citizen, a permanent resident, or a qualified alien with a valid immigration status. Additionally, you must be living in one of the 50 U.S. states, District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, American Samoa, or the Northern Mariana Islands.
Survivor Benefits Eligibility
Survivor benefits are available to the spouse, children, and some family members of a deceased worker. To be eligible for survivor benefits, the deceased worker must have enough work credits and be “fully insured” at the time of their death. The eligibility requirements for survivor benefits are as follows:
Relationship to the Deceased Worker
The following individuals may be eligible for survivor benefits:
– Spouse: A surviving spouse may be eligible for benefits if they were married to the deceased worker for at least nine months, or if they were married for less than nine months but have a child or are already entitled to Social Security benefits on their own record.
– Children: Children under the age of 18, or up to age 19 if they are still in high school, may be eligible for survivor benefits. Children with disabilities that occurred before the age of 22 may also be eligible.
– Parents: Parents who were dependent on the deceased worker for at least half of their financial support may be eligible for survivor benefits.
Disability Benefits Eligibility
Disability benefits are available to individuals who are unable to work due to a medical condition that is expected to last at least one year or result in death. To be eligible for disability benefits, you must meet the following criteria:
Severity of the Condition
Your condition must be severe enough to significantly limit your ability to work. The SSA follows a list of impairments to determine the severity of your condition. If your condition is not on the list, the SSA will evaluate your medical condition and its impact on your ability to work.
Duration of the Condition
Your condition must be expected to last at least one year or result in death. The condition must also prevent you from doing work that you did before or adjusting to other types of work.
Work History
You must have earned enough work credits to be eligible for disability benefits. The number of work credits needed depends on your age at the time you become disabled. However, if you are a younger worker, you may qualify for benefits with fewer credits.
Frequently Asked Questions
1. Can I receive Social Security benefits if I am still working?
Yes, you can receive full retirement benefits while still working, as long as you have reached the full retirement age. If you are under the full retirement age, your benefits may be reduced if you earn more than a certain amount.
2. Can the spouse of a deceased worker receive survivor benefits if they remarry?
A surviving spouse who remarries before the age of 60 (or age 50 if disabled) generally cannot receive survivor benefits as a survivor’s benefit. However, if the remarriage ends, they may be eligible to receive benefits again.
3. Are non-working spouses or stay-at-home parents eligible for Social Security benefits?
If you are married to someone who has worked and paid Social Security taxes, you may be eligible for spousal benefits, even if you have never worked. Stay-at-home parents may also be eligible for benefits based on their own work record or their spouse’s work record. It is important to note that eligibility for benefits may vary depending on individual circumstances.
In conclusion, Social Security benefits provide important financial support to individuals and their families during their retirement, in case of disability, or after the death of a loved one. To find out if you are eligible for these benefits, visit the Social Security Administration’s website or contact them directly for more information.
