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To be eligible for Social Security retirement benefits, you must have earned 40 credits (typically ten years of work). You earn credits based on the amount of earnings you have in one calendar year. You can earn no more than four credits in any calendar year. The credits make you eligible, but it is your history of earnings and age that determines your actual benefits.
If you are eligible, you can begin receiving benefits at age 62. But if you receive benefits prior to full retirement age (see the section When Can You Collect Full Social Security Retirement Benefits?), you will receive a smaller monthly benefit. (Any subsequent cost-of-living increases will still be applied to your reduced benefit.) Get an estimate of your Social Security benefit by reviewing your Social Security Statement, which is sent to you annually.
SUGGESTION: If you are not already receiving Social Security Benefits, the Social Security Administration will automatically send you an annual Social Security Statement. If you have not received this statement, call Social Security at 1-800-772-1213 and ask for Form SSA-7004, Request for Social Security Statement. It can be requested via the Internet at www.ssa.gov.
IMPORTANT NOTE: Civil Service Retirement System (CSRS) employees are not covered by the Social Security program. Federal Employees Retirement System (FERS) employees do participate in the Social Security program.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Heartland Bank and Heartland Planning Associates are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Heartland Planning Associates, and may also be employees of Heartland Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Heartland Bank and Heartland Planning Associates. Securities and insurance offered through LPL or its affiliates are:
|Not Insured by FDIC or Any Other
|Not Bank Deposits or
The LPL Financial registered representatives associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.