Social Security Credits

Definition

Social Security Credits are units earned by individuals through work and payment of Social Security taxes, used by the Social Security Administration to determine eligibility for retirement, disability, or survivors benefits. The number of credits required for benefit eligibility varies depending on the type of benefit and the individual’s age.

In 2024, an individual receives one credit for each $1,730 they earn, with a maximum of 4 credits per year.

Learn More

https://www.ssa.gov/benefits/retirement/planner/credits.html

Suggest a Change

Want to add to this entry? Email us at hello@sabal.finance with your suggestions!