96.002: Social Security Retirement Insurance

96.002

Inactive

Social Security Administration (SSA)

Sept. 28, 2017

Sept. 17, 2017

To replace part of the earnings lost due to retirement.

D - Direct Payments with Unrestricted Use

Retired workers age 62 and over who have worked the required number of years under Social Security are eligible for monthly benefits. Coverage credits under the social security systems of certain foreign countries with which the U.S. has reciprocal agreements may be taken into account to meet the requirements. If an eligible worker age 62 or over receives benefits before full-benefit retirement age (FRA)(age 66 for workers age 62 in 2005), the individual's retirement benefit will be permanently reduced. Also, certain family members can receive benefits including: (1) A wife or husband age 62 or over; (2) a spouse at any age, if a child who is under age 16 or is disabled is in his or her care and is entitled to benefits based on the worker's record; (3) unmarried children under age 18 (or under age 19 for students in elementary or secondary school); (4) unmarried adult offspring at any age if disabled before age 22; and (5) divorced wives or husbands age 62 or over who were married to the worker for at least 10 years. Beginning January 1985, spouses ages 62 or over who have been divorced for at least 2 years (and married to the worker for at least 10 years) may become entitled to benefits regardless of whether the former spouse who is at least age 62 and fully insured has applied for benefits. Effective January 1991, the 2-year waiting period for payment of divorced spouse's benefits without regard to the former spouse's earnings was waived if the former spouse was entitled to benefits prior to the divorce. All benefits, other than benefits to disabled beneficiaries, and beneficiaries FRA and older, are subject to an earnings test. Beginning with the year 2000, the retirement earnings test was eliminated beginning with the month in which the beneficiary reaches FRA. A person at and above FRA will not have Social Security benefits reduced because of earnings. In the calendar year in which a beneficiary reaches FRA, benefits are reduced $1 for every $3 of earnings above the limit allowed by law, $31,800 in 2005, but this reduction is applied only to months prior to attainment of FRA. For years before the year the beneficiary attains FRA, the reduction in benefits is $1 for every $2 of earnings over the annual exempt amount, $16,920 in 2017. For workers who are first eligible after 1985 for both (a) a pension based on non-covered employment; and (b) Social Security retirement (or disability) benefits, a different benefit formula applies which provides somewhat lower benefits. The Social Security benefit for a spouse of a retired worker is subject to a pension offset if the spouse receives a governmental pension based on his or her own work in non-covered employment. However, the offset does not apply if: (i) the person has received or became eligible to receive the pension before December 1, 1982, and met eligibility requirements for Social Security auxiliaries' benefits as they existed in January 1977; or (ii) if the person receives, or is eligible to receive, the pension before July 1, 1983, and the person was dependent on his or her spouse for at least one-half support at the time the spouse died, became disabled or became entitled to Social Security benefits. The amount of the public pension used for purposes of the offset against Social Security spouse's benefits is equal to two-thirds of the public pension. The benefit for the spouse of a retired worker is also offset dollar for dollar by the amount of any Social Security benefit the spouse receives based on his or her own work. Effective for those who have reached age 62 since August 1981, a retired worker or spouse can receive benefits only for months in which he or she has attained at least age 62 for the entire month. No benefit can be paid to an alien in the United States unless he or she is lawfully present in the United States. In addition, an alien cannot qualify for benefits if he or she never had a work-authorized SocialSeurity Number (SSN) effective for benefit applications based on SSNs issued after 2003).

Benefits are paid to retired workers age 62 and over who have worked the required number of years under Social Security, and to certain family members.

96.006 - Supplemental Security Income

96.001 - Social Security Disability Insurance

57.001 - Social Insurance for Railroad Workers

96.004 - Social Security Survivors Insurance

https://sam.gov/fal/42a884b5abfd9d21369680b681e15fbb/view