Veteran Eligibility for Social Security Benefits
Military employees have been paying into Social Security since 1957. Along with civilian workers, veterans also have the right to receive Social Security benefits and might even be entitled to additional payments because of their military status. Our Tampa Social Security disability attorney can provide clients with further information on if you are eligible for benefits.
Earning Credits, Income and Retirement Age
The government calculates your Social Security benefits by adding up the number of years you have worked and totaling how much you have paid in taxes. Most people will need to work at least 10 years to be eligible for Social Security. The higher your income and earnings, the more Social Security benefits you will receive. Your benefits are lower if you don’t work or earn much money. You can begin receiving benefits at age 62 at a reduced rate. If you wait until full retirement, your benefits will be higher. Our Tampa Social Security disability attorney can help you find the necessary information so that you know how much money you will receive in Social Security benefits.
Additional Compensation for Military Service
The government sometimes credits veterans with additional earnings for their service. The extra income can help you qualify for Social Security sooner, or you might receive increased benefits. You must have served in the military between 1940 and 2001. This time frame is further divided into three separate categories. Veterans who served from 1940 through 1956 could be eligible for $160 monthly if they meet certain conditions. Veterans who served between 1957 and 1977 could be credited with $300 per quarter, but these are added into their earnings and not paid to them. Those who served between 1978 and 2001 can also earn as much as $1,200 annually in credits. Our Tampa Social Security disability lawyer can provide you with further information on how these credits will affect your retirement.
A veteran might not understand what government benefits they are eligible to receive when they retire. Our Tampa Social Security disability attorney can answer your questions and help you with this process. Call the Law Office of Mike Murburg, P.A., at (877) 774-2889.