Dec 16, 2022 · The Social Security Administration (SSA) includes your 35 highest-earning years, adjusted for historical wage growth, in its benefit calculation. You can review your earnings history by creating an online My Social Security account .

Nov 16, 2018 · But suppose you started Social Security at 62, for reasons unrelated to health, taking a reduction in benefits for filing before full retirement age (which is 66 and 8 months for people born in 1958, two months later for those born in 1959, and 67 for those born in 1960 or later). Six months later, you are diagnosed with kidney disease.

Dec 4, 2024 · The COLA is applied to all Social Security payments — survivor benefits, family benefits and disability benefits, as well as retirement benefits — and to Supplemental Security Income (SSI), a monthly benefit administered by the SSA for people with low incomes and limited assets who are 65 or older, blind or have a disability.

Sep 12, 2024 · 5 Social Security Decisions That Can Be Costly. Social Security can make up a big portion of your retirement income. Maximizing your benefits starts with making the best choices for you, based on your age, marital status, work plans and more. Watch this free AARP webinar for expert guidance on avoiding Social Security pitfalls that could cost ...

Jan 24, 2025 · In 2023, income taxes on benefits added $50.7 billion to the Social Security trust funds, accounting for about 3.8 percent of Social Security’s revenue — the vast majority of which comes from payroll taxes levied separately on most U.S. workers’ earnings.

Oct 10, 2018 · Again, Social Security will pay the greater of the two benefit amounts. Members only The top spousal benefit is 50 percent of your mate’s primary insurance amount — the retirement benefit they are entitled to claim at full retirement age , which is 66 and 8 months for people born in 1958, 66 and 10 months for those born in 1959 and 67 for ...

May 1, 2024 · Social Security used to allow someone who was entitled to both a retirement benefit and a spousal benefit — an auxiliary benefit one partner can receive based on the other’s earnings record — to choose one or the other if they had reached full retirement age (FRA). That way, you could draw a spousal benefit first, then shift to your ...

Oct 10, 2018 · You can file for any type of Social Security benefit by phone at 800-772-1213 or in person at your local Social Security office (call ahead to book an appointment). For retirement benefits, spousal benefits and Social Security Disability Insurance (SSDI), you can also apply online, in which case it helps to have a My Social Security account.

Apr 7, 2022 · Most funeral homes will report a death to Social Security as part of their services. (Social Security provides a form for funeral directors to perform this function.) If you want this service, be sure to provide the funeral home with the deceased’s Social Security number. You can also report the death yourself, by calling Social Security at ...

Sep 12, 2022 · Social Security does not allow what it calls “retroactivity” if you claim benefits before then. If you are at full retirement age , which varies according to the year you were born , Social Security will pay benefits starting that month.