Anonymous wrote:Your benefits also depend on whether you are, or were, in a marriage that lasted more than 10 years. I am a SAHM married to a high earner and I will get amount equal to half of his benefits (so in today's $, he will get about $2600 a month and I will receive another $1300 regardless of whether I paid payroll taxes). When one partner dies, the survivor gets the entire $2600 a month.

(Not saying this is fair but the system was developed in the 1930's and assumes a traditional family).

If he is a high earner and assuming you have a high net worth, you will be lucky to get anything by the time retirement rolls around. This program is headed the way of welfare.

Even if you get divorced after 10 yrs. you can receive the spouse's share of SS based on that marriage (so long as you don't remarry -- unless you are over a certain age -- like 55 or 65, I can't remember. They allow remarriages for people who are older).

In theory, there could be multiple former spouses receiving benefits off of one worker's contributions. (Bob marries Margie for 10 yrs., then marries Janice for 12 yrs., then marries Alice for 20 yrs. -- ALL of them could claim the spousal share of SS and receive it if it turned out to be more than they would get based on their own work record).

Anonymous wrote:

Anonymous wrote:Your benefits also depend on whether you are, or were, in a marriage that lasted more than 10 years. I am a SAHM married to a high earner and I will get amount equal to half of his benefits (so in today's $, he will get about $2600 a month and I will receive another $1300 regardless of whether I paid payroll taxes). When one partner dies, the survivor gets the entire $2600 a month.

(Not saying this is fair but the system was developed in the 1930's and assumes a traditional family).

Is this in addition to your benefits? And does it work in reverse if you earn the same as him, so you will $2600 and he will get another $1300? Totalling a benefit of $2600 * 3?

Okay, I looked it up, a spouse can choose to receive her benefit or half of her spouse's benefit. Depending upon age, it make sense to take one or the other.

Anonymous wrote:Your benefits also depend on whether you are, or were, in a marriage that lasted more than 10 years. I am a SAHM married to a high earner and I will get amount equal to half of his benefits (so in today's $, he will get about $2600 a month and I will receive another $1300 regardless of whether I paid payroll taxes). When one partner dies, the survivor gets the entire $2600 a month.

(Not saying this is fair but the system was developed in the 1930's and assumes a traditional family).

Is this in addition to your benefits? And does it work in reverse if you earn the same as him, so you will $2600 and he will get another $1300? Totalling a benefit of $2600 * 3?

Your benefits also depend on whether you are, or were, in a marriage that lasted more than 10 years. I am a SAHM married to a high earner and I will get amount equal to half of his benefits (so in today's $, he will get about $2600 a month and I will receive another $1300 regardless of whether I paid payroll taxes). When one partner dies, the survivor gets the entire $2600 a month.

(Not saying this is fair but the system was developed in the 1930's and assumes a traditional family).

Anonymous wrote:And the previous years of working do not count unless you reached some minimum threshold of earnings (I think it is $12K)

So if 10 of those years you worked part time retail and only earned $10K, those years do not count to SS.

I think it just like $5k (or like 1k/quarter)

NP here. I had a vague idea that SS was calculated from a high-five, or some other number of years of income. I didn't realize it is calculated from 35 years of annual income. Thanks, PPs.

And the previous years of working do not count unless you reached some minimum threshold of earnings (I think it is $12K)

So if 10 of those years you worked part time retail and only earned $10K, those years do not count to SS.

Anonymous wrote:How does it work? If you work for 20 years and contribute to the system and stop working to occasionally freelance at 45, but plan to collect at 65, do you get an extremely small check, or even no check?

Your benefit is based on the 35 (?) top earning years, indexed to the year they do the calculation. (E.g. earnings in 1965 would be small, comparatively, so they calculate those earnings as what they would be if earned in the present.) You can find out your estimated benefit from SS, although I think their calculators all assume continued contributions of similar amounts.

http://www.ssa.gov/pubs/EN-05-10070.pdf

You are eligible after 10 years but your average salary is calculated based on your highest 35 years of earning. I am not sure but I guess they will use 0 for the last 15 years if you stop at 20 years. so ultimately you will get a smaller check than if you worked 35 years. In any case, if you log to the SS site, they will tell you what is the amount you have earned so far based on your full retirement age.

I think you'll get a smaller check than if you had kept working, but those first 20 years do count. I think you can go onto the website and get your personal benefit statement - they send me a statement every year.

No, it goes by carditis and when you work a certain amount, then you are eligible. You should be eligible. Otherwise you can get it through a spouse oe ex spouse.

How does it work? If you work for 20 years and contribute to the system and stop working to occasionally freelance at 45, but plan to collect at 65, do you get an extremely small check, or even no check?