Social Security

From the Center for Retirement Research…

Social Security Credits for Moms?

August 4, 2016

“Social Security’s benefits were designed for the typical family when the pension program was enacted in the 1930s…. A spouse, usually the wife, is guaranteed half of her husband’s full retirement age benefit under the program when she reaches her full retirement age – whether she works or not. When her husband dies, her survivor benefit equals his pension benefit.

Figure: Rise of the Single Mother

But women who marry and become divorced within 10 years are not eligible for these benefits. Nor, of course, are single working women, who receive benefits based solely on their own work histories. Increasing numbers of women reaching retirement age today either were in short-term marriages or never married and won’t receive a spousal or survivor benefit. The problem is that most of these women are mothers.”

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January 2015

Kiplinger’s Social Security Strategies:

If You’re Widowed

“A survivor benefit is worth up to 100% of a deceased spouse’s benefit.

You’re eligible for a survivor benefit based on your deceased spouse’s earnings. You can claim this benefit as early as age 60, or 50 if you’re totally disabled. The amount is based on your late spouse’s benefit when he or she died. If your spouse died before claiming Social Security, the benefit will be based on 100% of the amount due at your late spouse’s full retirement age.”

If You’re Divorced

“Meet certain criteria and you may qualify to claim a benefit off an ex-spouse’s earnings record.

…In order to claim either spousal or survivor benefits, you must have been married for at least 10 years and not be entitled to a higher benefit based on your own record. In addition, you must be at least 62 and unmarried.”

If You’re Single

“There are steps singles can take to boost their benefits.

…Single retirees who never married don’t need to concern themselves with survivor benefits — benefits will end when they do. That gives single beneficiaries a less compelling reason to postpone claiming benefits after full retirement age, says Marc Kiner, co-founder of Premier Social Security Consulting in Sharonville, Ohio.”

For Married Couples

“Spouses can boost their benefits by coordinating the timing of their claims.

Married beneficiaries can claim benefits based on their own earnings record or choose to receive up to 50% of the amount for which their spouse is eligible at full retirement age.”

All four of these articles are by Sandra Block, from Kiplinger’s Personal Finance, January 2015.