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Give
yourself some credit-Social Security credit
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[July 29, 2011]
Sometimes
people don’t give themselves enough credit. But if you work and pay
Social Security taxes, you’re earning credit for yourself every
payday -- credit that will pay off later in life when it comes time
for retirement, or in the event that you become disabled and are
unable to work; credit that can help your family if you die early
and need to provide for those who depend on you.
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You qualify for Social
Security benefits by earning Social Security credits when you work
in a job or are self-employed and pay Social Security payroll taxes.
In 2011, you receive one credit for each $1,120 of earnings, up to
the maximum of four credits per year. Most people need 10 years of
work (40 credits) to be eligible for retirement benefits.
The number of credits
needed for disability benefits depends on how old you are when you
become disabled. For example, if you become disabled before age 24,
you generally need 1 1/2 years of work (six credits) in the three
years before you became disabled. At age 31 or older, you generally
need at least 20 credits in the 10 years immediately before you
became disabled.
In most cases, about 10
years of work is needed for a worker’s family to qualify for
survivors benefits. Survivors of very young workers may be eligible
if the deceased worker was employed for 1½ years during the three
years before his or her death.
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You can find a detailed chart
that shows exactly how many credits you would need in the online
publication, How You Earn Credits, available at
www.socialsecurity.gov/pubs/10072.html.
You also may want to read Understanding the Benefits for more
information about Social Security and how it works. You can find it
online at
www.socialsecurity.gov/pubs/10024.html.
Next time you feel like
someone else is taking credit for your hard work, just remember that
your hard work is earning you credit in ways you probably don’t even
think about — Social Security credit.
By Judith Bartels
Social Security District
Manager in Springfield, IL
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