Our previous article covered the basics of Social Security benefits. This article will address a few of the nuances surrounding benefits – spousal, survivor, and family benefits.
Benefits for Spouses
Individuals are eligible for benefits based on their spouse’s earning record. For a nonworking or low-earning spouse, this may represent a significant benefit. To be eligible for spousal benefits, you must be age 62 and have been married for at least one year. Benefits can be up to 50% of the spouse’s primary insurance amount (PIA). Spousal benefits cannot be claimed until the earning spouse files for benefits. Just as with personal benefits, the spousal benefits will be reduced if the earning spouse claims before their full retirement age (FRA) and/or the non-earning spouse claims before their own FRA.
Benefits for Ex-Spouses
Divorced individuals may be eligible for spousal benefits based on their ex-spouse’s record. However, the couple must have been married for at least 10 years, and the ex-spouse claiming the benefits must be currently unmarried. Unlike married spousal benefits, if the divorce has been finalized for two years, the ex-spouse does not have to have filed for benefits in order for the other to file for divorced spousal benefits.
Benefits for Surviving Spouses
Married couples who have been married for at least 9 months and divorced couples who were married at least 10 years should be aware of survivor benefits. Upon the death of a spouse or ex-spouse, the survivor is eligible to receive benefits based on the deceased spouse’s record. The surviving spouse must be 60 years old (unless disabled or caring for children under age 16) and not have remarried in order to claim benefits.
A surviving spouse, at full retirement age or older, generally gets 100 percent of the deceased worker’s benefit amount. If age 60 or older, but under the FRA, the surviving spouse will receive a reduced survivor benefit. Survivor benefits are available without electing retirement benefits, which means the surviving spouse can take the survivor benefit and allow their own benefit to grow by delaying it until age 70 (if it is higher than the survivor benefit).
Benefits for Other Family Members
Social Security also considers the needs of other family members beyond spouses. Benefits for dependent children, disabled individuals, and dependent parents may be available. With each situation there are eligibility requirements and family maximums. This article won’t review each situation but know benefits may be available. The Social Security Administration website covers those situations here.
Our next article will examine factors that can help determine the right time to take Social Security benefits. If you have questions about Social Security benefits, please contact us. We would be happy to review your situation and work through your options.
