Social Security Survivor Benefits Program supports your loved ones after you pass away. It’s a crucial program to understand, especially if your dependents rely on your income.
We’ll guide you through everything you need to know about Social Security Survivor Benefits, including eligibility requirements and how benefits are calculated.
By the end of this article, you’ll better understand how to plan for your family’s financial security through the Social Security Survivor Benefits program.
Let’s dive in.
Who is Eligible for Social Security Survivor Benefits?
To be eligible for monthly survivor benefits, you must meet certain requirements. The first requirement is that the worker must have earned enough Social Security credits to be insured. Generally, workers need 40 credits to be insured, which is equal to 10 years of work.
In 2023, you get one credit in every $1,640 you earn up to $6,560 for four credits while in 2024, it’ll rise to every $1,730 you earn, up to $6,920.
Also Read: IRS Form 2441 Instructions
Secondly, you must be one of the following:
1. A widow or widower age 60 or older (50 if disabled)
2. A widow or widower of any age caring for a child who is under age 16 or disabled
3. An unmarried child of the deceased who is:
- Under the age of 18
- 18-19 years old and a full-time student (no higher than grade 12)
- 18 or older with a disability that began before age 22
4. A stepchild, grandchild, or adopted child under certain circumstances
5. Parents, age 62 or older, who were dependent on the deceased for at least half of their support
Social Security Survivor’s Benefit Calculator
The amount of your survivor’s benefit is based on the deceased worker’s earnings record. The benefit is a percentage of the deceased worker’s basic Social Security benefit, also known as the primary insurance amount (PIA).
The percentage of the PIA you are eligible to receive depends on your relationship with the worker and your age when you begin receiving benefits. For example, a widow or widower who is full retirement age or older can receive 100% of the worker’s PIA.
However, your benefit will be reduced if you receive survivor’s benefits before your full retirement age. The reduction is based on the months before your full retirement age. Once you reach full retirement age, your benefit will be adjusted to the full amount.
Applying for Survivor’s Benefits
To apply for social security survivor benefits, you must contact the SSA. You can apply online, by phone, or in person at your local SSA office. When you apply, you will need to provide certain information and documents, such as:
- Proof of death
- Your birth certificate
- Your marriage certificate (if you are a widow or widower)
- Social Security numbers of the deceased worker and any dependents who may be eligible for benefits
- W-2 forms or self-employment tax returns for the most recent year
- Bank account information for direct deposit
It is important to apply for survivor’s benefits as soon as possible to ensure you receive the maximum benefit. You can apply for benefits as early as the month of the worker’s death.
Maximizing Your Benefits
To maximize your Social Security Survivor Benefits, there are a few strategies you can use. One strategy is to delay claiming survivor benefits until you reach full retirement age. This can increase your benefit amount, as survivor benefits are not subject to the same reduction penalties as retirement benefits if claimed before the full retirement age.
Another strategy is coordinating benefits if you are eligible for retirement and survivor benefits. In some cases, it may be beneficial to claim one benefit first and delay claiming the other, as this can increase your total benefit amount over time.
It’s also important to consider the impact of taxation on your survivor benefits. If you can keep your combined income below certain thresholds, you may be able to minimize the amount of your survivor benefits subject to federal income tax.
The Bottom Line
Social Security Survivor Benefits provide financial support to the family members of a deceased person who has paid into the Social Security survivor benefits system. You must meet certain work history, age, and relationship requirements to be eligible for benefits.
The benefit amount is based on the deceased person’s primary insurance amount and can be reduced or increased based on various factors. You can visit your local Social Security office or apply online to apply for benefits.
By understanding the eligibility requirements and benefit calculation rules and using strategies to maximize your benefits, you can ensure that you and your family receive the support you need.
FAQs
Who is eligible for Social Security Survivor Benefits?
To be eligible for survivor benefits, you must be the widow or widower of a deceased person eligible for Social Security benefits, or you must be the child or dependent of the deceased person.
How is the survivor benefit amount determined?
The survivor benefits amount is based on the deceased person’s primary insurance amount, which is the amount they would have received if they had claimed their retirement benefits at full retirement age.
Can survivor benefits be reduced?
Yes, survivor benefits can be reduced if the deceased person has not yet reached full retirement age at the time of their death. The reduction is based on the number of months before their full retirement age.
When should I apply for survivor benefits?
It’s important to apply for survivor benefits as soon as possible after the deceased person’s death, as benefits are not paid retroactively. You should also make sure you have all the necessary documents and information before applying.
Can I receive both retirement and survivor benefits?
Yes, you may be eligible to receive both retirement and survivor benefits. However, you cannot receive both benefits at the same time. It’s important to coordinate benefits to maximize your overall benefit amount.