4 social security credits are the maximum credits per year, right?
2007-11-03 03:18:04 · 4 answers · asked by E C 1 in Business & Finance ➔ Taxes ➔ United States
To be eligible for a Social Security check you have to have earned so many credits, right? I worked for the US govt years ago under a different retirement plan (now retired) and did not pay into Social Security. My last birthday they sent me a note telling me that I had 12 credits. How many should I have, how many can I earn per year, how much can I make a year to earn those credits.
2007-11-03 03:39:03 · update #1
Not sure what you mean by credits. Your Social Security benefits are based on your earnings over your entire working career. About 3 or 4 months before your birthday each year, you should receive a statement explaining your benefits.
2007-11-03 03:26:32 · answer #1 · answered by crazydave 7 · 1⤊ 3⤋
You need 40 credits to be eligible to collect social security, and can earn a maximum of 4 credits per year, so you'd need 28 more credits to collect anything, or at least years working under social security (contributing to social security). This year, income of $1000 gives you a credit, up to a maximum of 4 credits for the year.
2007-11-03 11:07:29 · answer #2 · answered by Judy 7 · 1⤊ 1⤋
It is $1,000 each this year. Maximum of four. It will be $1,050 in 2008.
2007-11-03 03:36:08 · answer #3 · answered by Anonymous · 2⤊ 1⤋
the max Social Securiy you pay is 3200.00 per year if you reach that before the end of the year they stop taking it out of your pay check
2007-11-03 03:36:20 · answer #4 · answered by Anonymous · 0⤊ 4⤋