This Handbook provides an overview of federal laws affecting the elderly and retirement issues. Information discussed includes age discrimination in employment, elder abuse & exploitation, power of attorney & guardianship, Social Security and other retirement and pension plans, Medicare, and much more in 22 pages of materials.
Retirement Rules For Social Security In Virginia
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Certain circumstances make it logical to claim benefits as soon as you're eligible. “If you need the income at 62, you are going to claim,” Orman wrote. “Or if you arrive at age 62 in poor health, claiming your benefit early may make sense.”
Age 65 with at least five years (60 months) of service credit or at age 50 with at least 30 years of service credit. (60 months) of service credit. Normal Social Security retirement age with at least five years (60 months) of service credit or when your age and service equal 90.
You can apply for retirement benefits up to 4 months before you want to start receiving your benefits. Even if you are not ready to retire, you still should sign up for Medicare 3 months before your 65th birthday.
The full retirement age is 66 if you were born from 1943 to 1954. The full retirement age increases gradually if you were born from 1955 to 1960 until it reaches 67. For anyone born 1960 or later, full retirement benefits are payable at age 67. The chart on the next page lists the full retirement age by year of birth.
Information About You Your date and place of birth and Social Security number; The name, Social Security number and date of birth or age of your current spouse and any former spouse. The names of any unmarried children under age 18, age 18-19 and in elementary or secondary school, or disabled before age 22;
For anyone born 1960 or later, full retirement benefits are payable at age 67.
Overall, people who still choose to apply in person generally feel that they can get more personalized service and better understand what is happening with their application. If you value personalized attention over the speed of processing, applying in person may be the better choice for you.
The easiest and most convenient way to apply for retirement benefits is by using our online application. You will need to create or log in to your personal my Social Security account.
You can receive Social Security retirement benefits as early as age 62. However, we'll reduce your benefit if you start receiving benefits before your full retirement age. For example, if you turn age 62 in 2025, your benefit would be about 30% lower than it would be at your full retirement age of 67.
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At the end of each year, we'll mail you a Social Security. Benefit Statement (Form SSA-1099) that shows the amount of benefits you received.As a public employee in Virginia, you qualify for Social Security benefits in addition to VRS benefits when you retire. Learn about the filing rules for married couples regarding retirement and spouses benefits that will help you decide when to claim your benefits. You can start receiving your Social Security retirement benefits as early as age 62. Virginia does not tax Social Security benefits. As a Virginia public employee, you qualify for Social Security benefits when you retire (in addition to ERFC and VRS benefits). As the full retirement age goes up, benefits claimed at earlier ages go down. Note, the full retirement age for Social Security is increasing to age 67. You can apply for retirement benefits up to 4 months before you want to start receiving your benefits.