When most people think of Social Security, they often imagine retirement payments. However, there are several other benefits available through Social Security, including disability insurance, Supplemental Security Income (SSI), and survivors and family benefits. Not everyone qualifies for all these benefits, and sometimes, they may not be sufficient on their own. In some cases, you may even qualify for multiple benefits simultaneously.
To qualify for Social Security retirement benefits, you need to have earned 40 work credits. You earn these credits by working and paying payroll taxes. In 2024, you get one work credit for each $1,730 you earn. Generally, it takes about 10 years of work to earn the required 40 credits.
Social Security Disability Insurance (SSDI) requires that you have worked a minimum number of years and paid sufficient taxes into the system. You must also have a qualifying disability that meets the SSA’s strict definition. For instance, if you want to claim SSDI at age 60, you must have worked for at least 9.5 years. Younger individuals can qualify with fewer work credits.
Supplemental Security Income
SSI is designed for low-income Americans who are disabled, blind, or aged 65 and older. Some recipients of retirement or SSDI benefits may also qualify for SSI if their income and resources are limited.
Survivors and Family Benefits
When a worker passes away, their family members, such as spouses and children, may be eligible for benefits based on the worker’s record. Additionally, they may receive a death lump sum. Similarly, when a worker qualifies for retirement or SSDI benefits, their family members might also be eligible for monthly payments.
To ensure you receive the benefits you qualify for, utilize the SSA’s benefit calculator tools. You can also use your Social Security Statement to understand your potential payment amounts and eligibility for different benefits.
Quick Reference Table
Benefit Type
Eligibility Criteria
Retirement
40 work credits (10 years of work)
Disability Insurance
Work credits (varies by age) and a qualifying disability
SSI
Low income, disability/blindness, or age 65+
Survivors Benefits
Family members of deceased workers
Family Benefits
Spouses and children of workers with retirement or SSDI benefits
Knowing the complexities of Social Security benefits can be challenging. Knowing the various types of benefits and their eligibility requirements is the first step towards making the most of what the system has to offer. Whether you’re planning for retirement, dealing with a disability, or managing the loss of a loved one, Social Security provides essential support for many Americans.
FAQs
How many work credits do I need for retirement benefits?
You need 40 work credits.
Can I get both SSDI and SSI?
Yes, if you meet the income requirements for SSI.
Who qualifies for survivors benefits?
Family members of deceased workers.
What is the minimum work requirement for SSDI?
It varies, but typically around 9.5 years for those claiming at age 60.
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A tax law expert with a knack for breaking down complex regulations into digestible insights. Ehsteem's articles on the tax news blog offer invaluable guidance to readers navigating changes in tax legislation.