Social Security

Understanding Social Security

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Social Security, a significant component of the U.S. social welfare system, has a rich and complex history. President Franklin D. Roosevelt signed the Social Security Act into law in 1935 as a part of his New Deal program in response to the Great Depression.

This legislation aimed to provide a safety net for the elderly, the unemployed, and various disadvantaged groups, offering them financial assistance. Over the years, it has undergone numerous amendments and expansions. For example, in 1956, disability benefits were added, and in 1972, automatic cost-of-living adjustments were introduced to counteract inflation’s effects on fixed incomes. Social Security remains a vital lifeline for millions of Americans, providing retirement, disability, and survivor benefits.

Social Security Eligibility

Eligibility for Social Security benefits depends on a few key factors. Primarily, it’s based on your work history and the amount of Social Security taxes you’ve paid through your employment. To qualify for retirement benefits, you generally need at least 40 credits, equivalent to 10 years of work. The age at which you can begin receiving full benefits varies depending on your birth year, but it ranges from 65 to 67. For disability benefits, eligibility is determined by the severity of your disability and whether it prevents you from working. Survivor benefits are available to certain family members of deceased workers, such as widows, widowers, and minor children, subject to specific conditions. It’s important to note that while these are general guidelines, Social Security eligibility can be a complex topic with many nuances, and the specific rules may change over time.

Qualifying for Social Security based on a spouse’s (or ex-spouse’s)


Qualifying for Social Security benefits based on a spouse’s (or ex-spouse’s) work record is another facet of the Social Security system. If you are married, you may be eligible to receive spousal benefits, up to 50% of your spouse’s benefit amount at their full retirement age. If you’re divorced, you might still be eligible for benefits based on your former spouse’s record if the marriage lasted at least 10 years, you are currently unmarried, and you’re at least 62 years old. It’s important to note that claiming spousal benefits doesn’t reduce or affect the primary worker’s benefits. However, the timing of when you choose to claim these benefits can impact the amount you receive, with reductions for claiming before your full retirement age.

Figuring Your Benefit Amount

Figuring out your Social Security benefit amount involves a few steps. First, the Social Security Administration (SSA) calculates your Average Indexed Monthly Earnings (AIME), which takes into account your 35 highest-earning years adjusted for wage inflation. Then, they apply a formula based on fixed percentages at different earning levels, known as “bend points.” The result is your Primary Insurance Amount (PIA), the base figure the SSA uses to set your benefits. It’s important to note that the age you start receiving benefits can significantly impact your monthly benefit amount. Your benefits will be reduced if you claim earlier than your full retirement age (which varies from 65 to 67, depending on your birth year). Conversely, if you delay claiming past your full retirement age, you can earn delayed retirement credits, increasing your benefit until age 70.

Review your account

Reviewing your account on is essential in understanding and managing your Social Security benefits. Your account provides a wealth of information, including your earnings record, estimates of your future benefits at different claiming ages, the status of your current benefits if you’re already receiving them, and more. Reviewing your earnings record for accuracy is crucial, as any errors could affect your future benefit amounts. The account allows you to apply for benefits online and manage your direct deposit information. Given its significance, it’s recommended that you regularly review and update your account information as necessary. If you still need to set up an account, you can do so on the official Social Security website.

What is your earning limit?

Earning limits, or the earnings test, apply to individuals who claim Social Security benefits before reaching their full retirement age and continue to work. In 2023, if you are under full retirement age for the entire year, the Social Security Administration deducts $1 from your benefit payments for every $2 you earn above $19,560. The earning limit increases significantly the year you reach your full retirement age. $1 is deducted for every $3 you earn above $51,960 until the month you reach full retirement age. From the month you reach full retirement age onward, there’s no limit on your earnings; you can earn as much as you want without it affecting your Social Security benefits. It’s important to note that only earned income counts towards these limits—pensions, investment income, and other government benefits do not count.

Signing up for Social Security

Signing up for Social Security benefits is a straightforward process. You can apply online through the official Social Security Administration (SSA) website, over the phone, or in person at a local SSA office. To apply online, you must create a ‘My Social Security’ account on the SSA website if you still need to do so. Once logged in, follow the prompts to apply for retirement benefits. If you prefer to apply over the phone, you can call the SSA’s toll-free number


If you are deaf or hard of hearing, you can call TTY


For in-person applications, calling ahead and making an appointment is recommended to avoid long wait times. Before applying, ensure you have all necessary documents, such as your birth certificate, proof of U.S. citizenship or lawful alien status, and copies of your last year’s W-2 form or self-employment tax return. Remember, you can apply for Social Security benefits as early as three months before you want your benefits to start.


Regarding Social Security, individuals can sign up for benefits through the SSA’s official website, phone, or in person at a local SSA office. Earning limits apply to those who claim Social Security benefits before reaching full retirement age and continue to work. Regularly reviewing your account is crucial for managing and understanding your benefits.