Social Security retirement benefits

E299664

Social Security retirement benefits are monthly payments from the U.S. Social Security program that provide income to eligible workers and their dependents after the worker retires, based on their prior earnings and work history.

All labels observed (3)

How this entity was disambiguated

Statements (49)

Predicate Object
instanceOf retirement income program
social insurance benefit
adjustedBy cost-of-living adjustments
administeredBy Social Security Administration
applicationChannel Social Security field office
online
telephone
applicationRequired yes
basedOn age at claiming
primary insurance amount
worker earnings history
worker work history
beneficiary certain survivors through related benefits
eligible dependent children
eligible divorced spouses
eligible spouses
retired workers
benefitIncreaseCondition delaying benefits past full retirement age
benefitReductionCondition claiming before full retirement age
benefitType monthly cash payment
country United States
coverageScope most U.S. workers
currency United States dollar
linked to: US dollar
eligibilityRequirement attainment of minimum retirement age
covered employment
minimum number of work credits
excludes some state and local government employees without Social Security coverage
fundingSource Federal Insurance Contributions Act taxes
Self-Employment Contributions Act taxes
payroll taxes
governedBy Social Security Act
hasDelayedRetirementCreditAgeLimit age 70
hasFullRetirementAgeRange age 66 to 67 depending on birth year
hasMinimumClaimingAge age 62
indexedTo Consumer Price Index
mayBeSubjectTo earnings test before full retirement age
paidFrom Social Security Trust Funds
partOf U.S. Social Security program
paymentFrequency monthly
paymentMethod Direct Express debit card
direct deposit
programStartYear 1940
purpose provide income in retirement
replace a portion of prior earnings
relatedProgram Social Security disability benefits
Supplemental Security Income
spousalBenefitMaximum up to 50 percent of worker primary insurance amount
survivorBenefitMaximum up to 100 percent of worker benefit subject to limits
taxStatus federal income tax may apply depending on income

How these facts were elicited

Referenced by (3)

Full triples — surface form annotated when it differs from this entity's canonical label.

Supplemental Security Income distinctFrom Social Security retirement benefits
subject linked to: SSI
Social Security Amendments of 1967 changes Social Security benefit formulas
linked to: Social Security retirement benefits
Social Security hasComponentProgram Old-Age and Survivors Insurance
linked to: Social Security retirement benefits