Form SSA-7005-SM-OL (02/23) | Enclosures: Publication XX-XXXXX, Publication XX-XXXXX
Important Things to Know about
Your Social Security Benefits
• Social Security benets are not intended to be your
only source of retirement income. You may need
other savings, investments, pensions, or retirement
accounts to make sure you have enough money
when you retire.
• You need at least 10 years of work (40 credits) to
qualify for retirement benets. Your benet amount
is based on your highest 35 years of earnings. If
you have fewer than 35 years of earnings, years
without work count as 0 and may reduce your
benet amount.
• To keep up with inflation, benefits are adjusted
through “cost of living adjustments.”
• If you get retirement or disability benets, your
spouse and children may qualify for benets.
• When you apply for either retirement or spousal
benets, you may be required to apply for both
benets at the same time.
• If you and your spouse both work, use the
my Social Security Retirement Calculator to
estimate spousal benets.
• The age you claim benets will affect the benet
amount for your surviving spouse. For example,
claiming benets after your full retirement age
may increase the Spouse, if benets start at full
retirement age amount on page 1; claiming early
may reduce it.
• If you are divorced and were married for 10
years, you may be able to claim benets on your
ex-spouse’s record. If your ex-spouse receives
benets on your record, that does not affect your or
your current spouse’s benet amounts.
• Learn more about benets for you and
your family at ssa.gov/benets/retirement/
planner/applying7.html.
• When you are ready to apply, visit ssa.gov/
benets/retirement/apply.html.
• The Statement is updated annually. It is available
online, or by mail upon request.
Earnings Not Covered by Social Security
You may also have earnings from work not covered
by Social Security, where you did not pay Social
Security taxes. This work may have been for
federal, state, or local government or in a foreign
country. If you participate in a retirement plan or
receive a pension based on work for which you
did not pay Social Security tax, it could lower your
benets. Learn more at ssa.gov/gpo-wep.
Work Year
Earnings
Taxed for
Social Security
Earnings Taxed
for Medicare
(began 1966)
1971-1980 $ 2,142 $ 2,142
1981-1990 87,10 2 87,10 2
1991-2000 246,069 246,069
2001 34,147 34,147
2002 34,846 34,846
2003 36,021 36,021
2004 38,032 38,032
2005 39,711 39,711
2006 41,829 41,829
2007 43,971 43,971
2008 45,170 45,170
2009 44,603 44,603
2010 45,666 45,847
2011 47,0 93 47,0 93
2012 48,560 48,560
2013 49,095 49,095
2014 50,605 50,605
2015 51,996 51,996
2016 52,108 52,108
2017 53,251 53,251
2018 53,966 53,966
2019 54,559 54,559
2020 54,489 54,489
2021 Not yet recorded
Taxes Paid
Total estimated Social Security and Medicare taxes
paid over your working career based on
your Earnings Record:
Social Security taxes
You paid: $75,568
Employer(s): $77,498
Medicare taxes
You paid: $18,158
Employer(s): $18,158
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Earnings Record
Review your earnings history below to ensure it
is accurate because we base your future benets
on our record of your earnings. There’s a limit to
the amount of earnings you pay Social Security
taxes on each year. Earnings above the limit do not
appear on your earnings record. We have combined
your earlier years of earnings below, but you can
view your complete earnings record online with
my Social Security. If you nd an error, view your
full earnings record online and call 1-800-772-1213.