To qualify for benefits, you earn “credits” through
your work—up to four each year. This year, for example, you earn
one credit for each $1,090 of wages or self-employment income. When
you’ve earned $4,360, you’ve earned your four credits
for the year. Most people need 40 credits, earned over their working
lifetime, to receive retirement benefits. For disability and survivors
benefits, young people need fewer credits to be eligible.
We checked your records
to see whether you have earned enough credits to qualify for benefits.
If you haven’t earned enough yet to qualify for any type of
benefit, we can’t give you a benefit estimate now. If you continue
to work, we’ll give you an estimate when you do qualify.
What we assumed—If
you have enough work credits, we estimated your
benefit amounts using
your average earnings over your working lifetime. For 2009 and later
(up to retirement age), we assumed you’ll continue to work
and make about the same as you did in 2007 or 2008. We also included
credits we assumed you earned last year and this year.
Generally, the older
you are and the closer you are to retirement, the more accurate the
retirement estimates will be because they are based on a longer work
history with fewer uncertainties such as earnings fluctuations and
future law changes. We encourage you to use our online Retirement
Estimator at www.socialsecurity.gov/estimator to
obtain immediate and personalized benefit estimates.
We can’t provide
your actual benefit amount until you apply for benefits. And
that amount may differ from the estimates stated above because:
(1) Your earnings may increase
or decrease in the future.
(2) After you start receiving benefits, they
will be adjusted for cost-of-living increases.
(3) Your estimated benefits are
based on current law.
The
law governing benefit amounts may change.
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(4) Your
benefit amount may be affected by military service, railroad
employment or pensions earned through work on which you did not pay
Social Security tax.
Visit www.socialsecurity.gov/mystatement to
learn more.
Windfall Elimination
Provision (WEP) — In the future, if you receive a pension from employment
in which you do not pay Social Security taxes, such as some federal,
state or local government work, some nonprofit organizations or foreign
employment, and you also qualify for your own Social Security retirement
or disability benefit, your Social Security benefit may be reduced,
but not eliminated, by WEP. The amount of the reduction, if any,
depends on your earnings and number of years in jobs in which you
paid Social Security taxes, and the year you are age 62 or become
disabled. For more information, please see Windfall Elimination Provision
(Publication No. 05-10045) at www.socialsecurity.gov/WEP.
Government Pension Offset (GPO) — If
you receive a pension based on federal, state or local government
work in which you did not pay Social Security taxes and you qualify,
now or in the future, for Social Security benefits as a current
or former spouse, widow or widower, you are likely to be affected
by GPO. If GPO applies, your Social Security benefit will be
reduced by an amount equal to two-thirds of your government pension,
and could be reduced to zero. Even if your benefit is reduced
to zero, you will be eligible for Medicare at age 65 on your
spouse’s record. To learn more,
please see Government Pension Offset (Publication No. 05-10007) at www.socialsecurity.gov/GPO. |
www.socialsecurity.gov
