Social Security Benefits: The Complete Guide

Retirement Benefits

Retirement benefits are the most common type of Social Security benefit. They provide monthly income to eligible workers who have reached retirement age.

Eligibility Requirements

• You must have earned at least 40 Social Security credits (typically 10 years of work)
• You must be at least 62 years old to start receiving reduced benefits
• Full retirement age ranges from 66 to 67, depending on your birth year

Early Retirement vs. Full Retirement vs. Delayed Credits

Social Security Disability Insurance (SSDI)

SSDI provides benefits to people who cannot work due to a severe medical condition expected to last at least one year or result in death.

Eligibility Requirements

• You must have worked long enough and recently enough to qualify
• You must meet the SSA’s definition of disability
• Your condition must significantly limit your ability to do basic work activities

Work Credits Required

The number of work credits needed depends on your age when you become disabled. Generally, you need:

• If disabled at age 31 or older: 20 credits earned in the last 10 years
• If disabled between ages 24-31: Credits for half the time between age 21 and when you became disabled
• If disabled before age 24: 6 credits earned in the 3-year period before disability

Medical Requirements

To qualify medically, you must have a condition that:

• Prevents you from doing work you did before
• Prevents you from adjusting to other work
• Is expected to last at least one year or result in death

Supplemental Security Income (SSI)

SSI provides monthly payments to people with limited income and resources who are disabled, blind, or age 65 or older.

Income and Asset Limits

To qualify for SSI, your countable resources must be worth no more than:

• $2,000 for an individual
• $3,000 for a couple

Countable income must be below the Federal Benefit Rate (FBR), which is $943 per month for individuals and $1,415 for couples in 2024.

Differences Between SSI and SSDI

Survivor Benefits

Survivor benefits provide financial support to widows, widowers, and dependents of eligible workers who have died.

Benefits for Spouses

• Surviving spouse at full retirement age or older: 100% of deceased worker’s benefit
• Surviving spouse age 60 to full retirement age: 71.5% to 99% of deceased worker’s benefit
• Surviving spouse with a disability aged 50-59: 71.5% of deceased worker’s benefit
• Surviving spouse caring for a child under 16: 75% of deceased worker’s benefit

Benefits for Children

Unmarried children of a deceased worker who are:

• Under 18 (or up to 19 if still in high school)
• Any age if disabled before age 22

These children can receive up to 75% of the deceased parent’s benefit amount.

Lump-Sum Death Payment

A one-time payment of $255 may be paid to the surviving spouse or minor children if they meet certain requirements.

Spousal & Ex-Spousal Benefits

If you are married or divorced, you may be eligible for benefits based on your current or former spouse’s work record.

Current Spouse Benefits

• You must be at least 62 years old
• Your spouse must be receiving retirement or disability benefits
• Maximum benefit is 50% of your spouse’s full retirement amount

Ex-Spouse Benefits

• Your marriage lasted at least 10 years
• You are currently unmarried
• You are at least 62 years old
• Your ex-spouse is entitled to benefits