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FACT SHEET

SOCIAL SECURITY: WHAT EVERY WOMAN NEEDS TO KNOW

A working woman earns Social Security because she pays into the system at her place of employment. She may also collect benefits as a spouse or as an ex-wife -- provided she was married ten years or more. A woman may collect Social Security either on the basis of her own record or, if the benefit to which she would be entitled is greater, as a spouse. She cannot collect both benefits!

Taxes

Your Social Security benefits may be taxable depending on your total income. For instance, if you file a federal tax return and the combined income of you and your spouse is between $32,000 and $44,000 you may have to pay taxes on half of your Social Security benefits. If your combined income is above $44,000, up to 85 percent of your benefits are subject to income tax.

When can I receive Social Security Retirement and Medicare Benefits?

• Age 66 is the current age at which you qualify to receive full Social Security benefits. Beginning in the year 2003, the age at which you will be able to receive full benefits will gradually increase to age 67.
• Age 66 is when you are eligible to enroll in Medicare, the federal health insurance program. Contact the Social Security Administration at 800-772-1213 several months before your 65th birthday for more information.

You may also receive reduced benefits at:

• Age 62 if you want to retire early.
• Age 62 if you are divorced, you were married ten years or more (and aren't currently married), and your ex-spouse is eligible for retirement benefits.
• Age 60 if your husband or ex has died.
• Age 50 if you are a disabled widow.

Also: If you are a widow and must stay home to care for young children, you may be eligible for a survivor's benefit, regardless of your age. This is paid until the youngest child reaches age 16. These benefits are not automatic. You must apply by calling the Social Security Administration at 800-772-1213.

For how long can I collect Social Security benefits?
These benefits will continue for as long as you live, and are currently adjusted every year for inflation.

Do I get benefits if I have left the paid workforce to care for my family?
Social Security benefits are based on an individual's earnings over 35 years, but a person who works for at least ten years will generally qualify for some benefits.

What is SSI?
SSI stands for Supplemental Security Income. It pays a monthly benefit to people over age 65 who have very little income or younger persons who are disabled and poor.

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