Ladies & Social Security

The Social Security Act and related laws establish a number of programs that have the following basic purposes: To provide for the material needs of individuals and families.

Designed to pay retired workers age 65 or older a continuing income after retirement. needs-based program funded by the U.S. Treasury general fund to provide payments to people with limited income and resources who are age 65 or older, blind, or disabled. 
Although is meant to cover all workers equally based on their work record, there are special provisions that can often apply to, it’s important for women to be aware of how they can maximize their Social Security.

In addition to the standard retirement benefit that any eligible worker can claim, just by virtue of being a spouse, even a non-working one, you may qualify for your own Social Security payout. As the nuances of Social Security can be complicated, you may want to consult a tax advisor or financial planner about your various options for claiming benefits.

Social Security provides an inflation-protected benefit that lasts as long as you live. Social Security benefits are based on how long you’ve worked, how much you’ve earned, and when you start receiving benefits.

You can qualify for Social Security by earning 40 “quarters of coverage,” which essentially translates to 10 years of working and paying into the Social Security system. 

For 2022, you can qualify for a quarter of coverage with $1,510 in taxable earnings. Technically, you can therefore qualify for four quarters of coverage each year after earning just $6,040. However, you can’t earn more than four quarters of coverage in any one year, so you’ll still have to earn over a span of 10 years to qualify for Social Security.

If you haven’t worked or if you don’t have enough Social Security credits, and you’re married, you may be eligible for Social Security benefits as a result of your spouse’s work.

You and your children (younger than age 18 or younger than age 19 if still in secondary school or disabled before age 22) have Social Security protection through your spouse’s work if they have enough credits. When your spouse retires, or if your spouse becomes disabled, you could be eligible for benefits as early as age 62. If you’re caring for your child who is younger than age 16, or who is disabled and entitled to benefits, you could receive benefits at any age.

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, survivorchildren’s benefits based on the qualifying worker’s earnings record.

Generally, you must be married for one year before you can get spouse’s benefits. However, if you are the, parent of your spouse’s child, the one-year rule does not apply.

Do married couples get two Social Security checks?

Both spouses in a married couple can get full Social Security benefits, at the same time. Married couples get two separate Social Security checks, and there is no “marriage penalty” for Social Security benefits.

IF you become a widow

If your spouse dies, you can get widow’s benefits if you’re age 60 or older. If you’re disabled, you can get widow’s benefits as early as age 50. Your benefit amount will depend on your age and on the amount your deceased spouse was entitled to at the time of death. If your spouse was receiving reduced benefits, your survivor benefit will be based on that amount.

You may be eligible for widow’s benefits and Medicare before age 65 if you are disabled and entitled to benefits. You also may be eligible for widow’s benefits if you are caring for a child who is younger than 16.

If you remarry after you reach age 60 (or age 50 if disabled), you’ll continue to receive benefits on your deceased spouse’s Social Security record. However, if your current spouse is a Social Security beneficiary, you should apply for a spouse’s benefit if it would be larger than your widow’s benefit. You can’t get both.

If you’re also entitled to retirement benefits based on your own work, you have other options. Ask a Social Security representative to explain the options, so you can decide which would be best for you.

If you’re divorced

If you’ve never asked Social Security about receiving benefits based on your ex-spouse’s work, you should. Many women get a higher benefit based on their ex- spouse’s work, especially if that spouse is deceased. When you apply, you’ll need to give your spouse’s Social Security number. If you don’t know your spouse’s number, you’ll need to provide your spouse’s date and place of birth and the names of your spouse’s parents.

The following requirements also apply to your divorced spouse if your ex-spouse’s eligibility for benefits is based on your work.

If your ex-spouse is living, if you’re divorced, you can receive benefits based on your ex-spouse’s work if:

• Your marriage lasted 10 years or longer.

• You’re unmarried.

• You’re age 62 or older.

• The benefit you’re entitled to receive based on your own work is less than the benefits you’d receive based on your spouse’s work.

• Your ex-spouse is entitled to Social Security retirement or disability benefits.

If your ex-spouse hasn’t applied for benefits, but can qualify for them and is age 62 or older, you can receive benefits on his or her work record if you’ve been divorced for at least two years

If your ex-spouse is deceased, you can receive benefits

If you’re divorced, you can receive benefits based on your deceased ex-spouse’s work if:

• At age 60, or age 50 if you are disabled, if your marriage lasted at least 10 years, and you aren’t entitled to a higher benefit on your own record.

• At any age if you’re caring for your ex-spouse’s child, who also is your natural or legally adopted child and younger than 16, or disabled and entitled to benefits. Your benefits will continue until the child reaches age 16 or until the child is no longer disabled. You can receive this benefit even though you weren your ex-spouse for 10 years

Can I collect Social Security as a divorced spouse if my ex-spouse remarries? 

Yes. When it comes to ex-spouse benefits, Social Security doesn’t care about the marital status of your former spouse; it only cares about your marital status.

If you’re a victim of family violence

Anyone can be a victim of family violence or harassment, abuse, or life-endangering situations. If you’re a victim of family violence, Social Security may be able to help you.

Public awareness campaigns stress how important

it is for victims to develop safety plans that include gathering personal papers and choosing a safe place

to go. Sometimes the best way to evade an abuser and reduce the risk of further violence may be to relocate and establish a new identity. After these changes, getting a new Social Security number may also be helpful.

Although we don’t routinely assign new numbers, we’ll do so when evidence shows you’re being harassed or abused, or your life is endangered.

Applying for a new number is a big decision. Your ability to interact with federal and state agencies, employers, and others may be affected because your financial, medical, employment, and other records will be under your former Social Security number and name (if you change your name). If you expect to change your name, we recommend you do so before applying for a new number.

For more information, read New Numbers for Domes

For more information, read New Numbers for Domestic Violence Victims (Publication No. 05-10093).

For 2022, the average monthly Social Security retirement benefit is just $1,657, or $19,884 per year. That equates to less than $10/hour for a full work year of 2,000 hours. Although some with an extremely low cost of living may be able to survive on that, for most Americans, it would be nearly impossible. Knowing this early in life may prompt more Americans to begin their own retirement savings programs to supplement their anticipated Social Security earnings.

Even the maximum Social Security benefit isn’t likely to give many Americans a comfortable retirement all on its own. For 2022, this maximum benefit amount is $4,194, or $50,328. While this is a sizable amount, it requires an extremely high level of earnings throughout your work career to qualify, meaning it would translate to a significant pay cut by the time you retire if used on its own. You’ll also have to wait until age 70 to claim Social Security in order to be eligible for the maximum benefit. So, similar to the average Social Security benefit, the maximum benefit isn’t likely going to be enough to fund the lifestyle of those who qualify for it

You can begin taking your Social Security retirement benefits as early as age 62, but your payments will be significantly reduced, as full retirement age for those born in 1943 or later is currently 67. According to the Social Security Administration, payments are reduced by 5/9 of 1% for each month before full retirement age, up to 36 months. Benefits taken more than 36 months early are further reduced by 5/12 of 1% for each additional month. Put it all together and it amounts to a permanent 30% reduction in your monthly payouts if you start your benefits at age 62 instead of 67.

Although benefits are reduced if you take them before full retirement age, the opposite is true if you wait. The Social Security Administration allows you to defer payments all the way up until age 70 if you so desire. Delaying payments increases your monthly benefit by 8% for every year you wait between ages 67 and 70. Of course, many factors go into this decision, including your general health, life expectancy and other sources of funding, but the bottom line is if you can wait, you’ll earn a substantially larger monthly check if you can wait until age 70.

Although Social Security is a benefit program, a significant portion of what you receive may be taxable. If you file your taxes jointly and have a combined income between $32,000 and $44,000 as a couple, 50% of your benefits may be taxable. If you jointly and have a combined income of more than $44,000, up to 85% of your Social Security benefits may be taxable. For single filers, the income range is $25,000 to $34,000, with earnings above $34,000 taxed at up to 85%.

At what age is Social Security not taxable?

At 65 to 67, depending on the year of your birth, you are at full retirement age and can get full Social Security retirement benefits tax-free.