In some cases, the death of the breadwinner can be devastating to a family. The Social Security Administration (SSA) has programs available for survivors including survivors insurance and survivors benefits. The SSA does not just provide retirement benefits; part of the taxes paid to the SSA by workers goes into the insurance fund. Survivors insurance can be very valuable to a family whose wage earner has died.
Survivors insurance can be available to family members such as a spouse, child, or dependent parent. This can be especially important for survivors who are unable to earn their own income. Workers earn credits with the SSA based upon their work history. No matter the age of the worker, no one needs more than ten years of work experience to be eligible for survivors benefits. If a worker dies, their widow or widower can be entitled to full retirement benefits when they reach full retirement age. This age is 66 for people born between 1945 and 1956, and age 67 for people born after 1962. Spouses may sometimes receive reduced retirement benefits if they choose to take them before retirement age. Unmarried minor children can receive benefits, as can dependent parents who are over the age of 62. Dependent parents means that the worker is providing at least half of their income.
In the case of divorce, surviving spouses may still be entitled to benefits. If the marriage lasted longer than ten years and the surviving spouse is over the age of 60, they can collect benefits. If the former spouse is caring for a disabled child from the marriage, there are no age limits. If a divorced spouse receives survivors benefits, it should not affect the benefit amounts of other survivors.
The amount of benefits varies greatly depending upon the length of the worker’s employment history and the amounts earned and contributed to the SSA. The average lifetime earnings are carefully recorded and analyzed. The SSA sends a yearly statement to workers that calculates their expected benefits under different scenarios, including survivor benefits.
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