Social Security

How Much Do I Get?

To be eligible for Social Security retirement benefits, you must have earned 40 ‘credits’ – you can earn four credits per year, so this normally represents ten years of work.  Your earnings history and age determine your actual benefits.  People born before 1938 become eligible to receive full benefits at age 65.  The normal retirement age of 65, and the corresponding ability to receive full benefits, has been gradually increased to 67 for covered workers born after 1937.  Depending on your income level, a portion of your benefits may be subject to income taxes.  Please note that Civil Service Retirement System (CSRS) employees are not covered by the Social Security program.  Federal Employees Retirement System (FERS) employees do participate in the Social Security program.

A non-working spouse is entitled to 50% of the working spouse's benefit, if the working spouse has started to receive payments.  A spouse who had low earnings will receive the higher of his or her own benefit, or 50% of the working spouse's benefit.

The earliest age at which benefits can be received is 62.  However, at that age there is a reduction in the monthly benefit because the government assumes that it will make additional payments in comparison with the person who starts collecting at the normal retirement age.  Today, you can expect to receive  between 70% and 80% of a full benefit at age 62, depending on your year of birth.   The non-working spouse’s benefit would be reduced to 37.5% of the worker spouse’s benefit.  (The non-working spouse can also receive benefits as early as age 62 but cannot begin receiving benefits before the worker.)