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The base spousal benefit is equal to one-half of the higher-earning spouse's primary insurance amount -- i.e., the Social Security benefit they would be entitled to if they claimed at their full ...
As it is with regular Social Security benefits, you don't have to claim spousal benefits at your full retirement age; you can claim starting at age 62, but your monthly benefit will be reduced ...
Image source: Getty Images. 1. You don't need to still be married to claim spousal benefits. You might assume that if you're no longer married to your spouse, you're not eligible to collect Social ...
Social Security payments to beneficiaries, which totaled $1.23 trillion in 2022, are generally financed by payroll taxes on workers in Social Security covered employment, trust fund reserves, and income taxation of some Social Security benefits. The payroll tax rate totals 12.4 percent of earnings up to the taxable maximum (the rate is 6.2 ...
After many years of paying Social Security payroll taxes, Social Security retirement benefits are well-earned for many. ... receive Social Security payments based on your spouse's work history and ...
This provision allows the lower-earning spouse to receive up to 50% of the higher-earning spouse’s benefit at full retirement age, but not until the spouse has become eligible for benefits.
Originally, the Social Security Administration paid spousal benefits only to the extent that they exceeded other benefits that the spouse earned. The rules have changed so that benefits can remain ...
One way to guarantee that no tax will be applied to your Social Security benefits, at least for a period of time, is not to collect them. Instead, consider funding your early retirement years ...