Bonneville America Forums Forums Off Topic Discussion Forums Lounge Social Security Credit for Ex-Military

Check this out this is legit. I wonder how many other benifits are out there we will never find out about.

My old AF buddy ran across this.

Date: Fri, 19 Jan 2007 21:55:56 -0600
From: "Bruce A. Peterson" <petersob@mchsi.com>
Subject: Social Security Benefit

> SOCIAL SECURITY - SPECIAL MILITARY EARNINGS CREDIT
>
> There is a little known program/benefit for people who've served in
> the
> military prior to Jan 2002. In a nutshell it boils down to this:
>
> Credited for years of active duty through 2001 (the program was done
> away with in January 2002)
>
> Up to $1200 per year of earnings credit (see below websites for more
> detail)
>
> Credited at time of application
>
> Bring in DD-214 to Social Security Office - you must ask for this
> benefit to receive it!
>
> Soc Sec website: http://www.socialsecurity.gov/retire2/military.htm
>
>
> For those of you who do not have this info, it is something to put in
> your files for when you apply for Social Security down the road.
> It is not just for retirees but anyone who has served on active duty
> prior to January 2002.
>
> Please feel free to forward this to all folks who have served on
> active
> duty who are entitled to this benefit but must ask for it!

Thanks I needed that. Did 5 yrs in the Navy and could sure use the extra down the road now that the companies are dropping or changing pension plans.

Pete

Yeap, my DD214 is good through march of '04, I need to remember to chase this down!

An xtra earnings credit, not payment. I Could be wrong. The extra earnings goes into the multiplier to determine your payment at maximum age. For most it will add up to about 10 bucks a month more. I hope I am wrong. Most will have already maxed out their earnings and receive the maximum payable anyhow.

This is not new.
As Ron says, this is an additional 'earnings credit' up to 1200 per year. So if you served on active duty (using different formulas for 1940-1956/1957-1977/1978-2001) you get a max additional earnings credit of 1200 per year.

Asking about military service is a standard question when applying for social security retirement (not disability, a different matter altogether) so although this is not an urban legend, misleading statements like, ‘you have to ask for it’ make good information seem questionable.
Check the SSA website, you can apply on-line now and even there it asks if you have military time, so it's not something they're trying to hide.

And something a coworker found out researching this a little deeper, social security retirement benefit is essentially based on your 'high 35' of earnings.
Generally, for 'most' people who apply for retirement at 62 or older this means that effectively even with the additional credit, military service may not account for any of the high 35, and the social security folks can figure this out in short order, so if they don't ask to see a 214, it's because it wouldn't have made any difference.

But if you're retired from active duty (as some of us are), and essentially not work much longer thereafter (some of us are trying not to ), this may have an impact.

And by the way, the coworker who called SSA to ask about this was told they’ve been fielding a lot of calls about this ‘hidden’ benefit lately and didn’t know why, but because they don't ask for a 214 if you don't need it, they don't automatically explain why you don't need to present the 214, which may lend some air of 'hiding' something. She said she will make it known in the organization to explain they already have the numbers figured in.