What happens if you collect Social Security spousal benefit before Fra?
What happens if you collect Social Security spousal benefit before Fra?
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If you collect a spousal benefit and you begin collecting this benefit before you reach FRA, your benefit will be permanently reduced. If you collect any type of benefit before your FRA, and you continue to work and receive earned income, you may owe some of your Social Security benefits back.
When does a spouse qualify for Social Security disability?
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. By a qualifying child, we mean a child who is under age 16 or who receives Social Security disability benefits.
How is the spousal benefit calculated for Social Security?
Then we compute the reduction factor, which is 36 times 25/36 of one percent, or 25 percent. Applying a 25 percent reduction to the $800 amount gives a spousal benefit of $600. Thus, in this case, the final spousal benefit is 37.5 percent of the primary insurance amount.
Can you get Social Security based on your spouses work history?
You can take Social Security income based on your own work history and earnings. Or, you can collect a spousal benefit instead. If you take the benefits based on your spouse’s work history and earnings, you will get 50% of the amount of your spouse’s Social Security benefit.
Under federal law, Social Security benefits are not considered marital assets and therefore are not subject to distribution in divorce proceedings. I would recommend you review the following Social Security Administration website or contact your local Social Security Office for answers to your questions regarding your Social Security Benefits.
Why are Social Security benefits not subject to distribution?
Social Security Benefits are regulated by the federal government and these regulations cannot be modified. Under federal law, Social Security benefits are not considered marital assets and therefore are not subject to distribution in divorce proceedings.
How are Social Security benefits calculated when a spouse dies?
The survivor benefit is generally calculated on the benefit your late spouse was receiving from Social Security at the time of death (or was entitled to receive, based on age and earnings history, if he or she had not yet claimed benefits). The actual amount of your payment will differ according to your age and family circumstance:
What happens when you apply for Social Security as a spouse?
If you do have enough credits to qualify for your own Social Security benefits and you apply for your own retirement benefits and for benefits as a spouse, we always pay your own benefits first. If your benefits as a spouse are higher than your own retirement benefits, you will get a combination of benefits equaling the higher spouse benefit.