The first exception, which can be deemed as the Social Security spousal benefits loophole, works where an individual who remarries at 60 or later may still be entitled to Social Security survivors' benefits if the second marriage ends before the death of the first spouse.
A federal law passed in 2015 eliminated two strategies couples formerly used to maximize their Social Security benefits. Spouses born after Jan. 1, 1954, can no longer claim spousal benefits and later switch to collecting benefits based on their own work record.
In addition, to be eligible for spouse's benefits, you must be one of the following: 62 years of age or older. Any age if you have a child who is younger than 16 in your care or has a disability and is entitled to benefits on your spouse's record.
A widow is eligible for between 71 percent (at age 60) and 100 percent (at full retirement age) of what the spouse was getting before they died. We must pay your own retirement benefit first, then supplement it with whatever extra benefits you are due as a widow.
When a worker files for retirement benefits, the worker's spouse may be eligible for a benefit based on the worker's earnings. Another requirement is that the spouse must be at least age 62 or have a qualifying child in her/his care.
Have you heard about the Social Security $16,728 yearly bonus? There's really no “bonus” that retirees can collect. The Social Security Administration (SSA) uses a specific formula based on your lifetime earnings to determine your benefit amount.
Either spouse can maximize their regular Social Security benefit amount by waiting past their full-retirement age to apply, up to age 70. Benefits generally increase 8% each year filing is delayed.
Spouses and ex-spouses
Payments start at 71.5% of your spouse's benefit and increase the longer you wait to apply. For example, you might get: Over 75% at age 61.
The spouse that wants to collect Social Security must have been married for 10 years or longer. This does not mean 10 years from the date of marriage to the date of separation, this means 10 years from the date of marriage to the date of the dissolution.
If you've reached your full retirement age, you can receive 100% of your spouse's disability benefits. If you're between 50 and 59 and you also have a disability, you can receive 71.5% percent of your spouse's benefits.
If you have since remarried, you can't collect benefits on your former spouse's record unless your later marriage ended by annulment, divorce, or death. Also, if you're entitled to benefits on your own record, your benefit amount must be less than you would receive based on your ex-spouse's work.
Claim early at age 62
And a surviving spouse can collect on his or her own record first, then switch to the deceased spouse's record at the surviving spouse's full retirement age (FRA) if the deceased spouse's benefits are higher. Collecting Social Security at 62 has some advantages.
If your spouse is not receiving any retirement benefits yet, then you could technically take your regular Social Security benefit as early as age 62. When your spouse files for their benefit later you could switch to spousal benefits.
To qualify to get $144 added back to your Social Security check, you can enroll in a Medicare Advantage plan that offers a Part B premium reduction or giveback benefit.
If you are receiving retirement or disability benefits, your spouse may be eligible for spouse benefits if they are: At least age 62. Any age and caring for a child who is under age 16 or who has a disability that began before age 22.
Although you need at least 10 years of work (40 credits) to qualify for Social Security retirement benefits, we base the amount of your benefit on your highest 35 years of earnings.
Form SSA-2 | Information You Need to Apply for Spouse's or Divorced Spouse's Benefits. You can apply: Online, if you are within 3 months of age 62 or older, or. By calling our national toll-free service at 1-800-772-1213 (TTY 1-800-325-0778) or visiting your local Social Security office.
You're eligible for spousal benefits if you're married, divorced, or widowed, and your spouse is or was eligible for Social Security. Spouses and ex-spouses generally are eligible for up to half of the spouse's benefits. Widows and widowers can receive up to 100%.
If your spouse dies, do you get both Social Security benefits? You cannot claim your deceased spouse's benefits in addition to your own retirement benefits. Social Security only will pay one—survivor or retirement. If you qualify for both survivor and retirement benefits, you will receive whichever amount is higher.
Exactly how much in earnings do you need to get a $3,000 benefit? Well, you just need to have averaged about 70% of the taxable maximum. In our example case, that means that your earnings in 1983 were about $22,000 and increased every year to where they ended at about $100,000 at age 62.
The $22,924 Social Security bonus most retirees completely overlook. If you're like most Americans, you're a few years (or more) behind on your retirement savings.