Wednesday, August 27, 2008

Special Extra Earnings for Military Service

If you served on active duty through 2001 and are now planning for retirement, you can qualify for a higher social security payment because of your military service. It can be up to $1,200 per year of earnings credited at time of application - which can make a substantial difference in social security monthly payments upon your retirement. Please keep in mind that this benefit is automatic, you must ask for it!

Please see the below excerpt from the Social Security website, which you can go on and find out all the details on how to obtain your extra earnings.

The below paragraph is from http://www.ssa.gov/retire2/military.htm

Since 1957, if you had military service earnings for active duty (including active duty for training), you paid Social Security taxes on those earnings. Since 1988, inactive duty service in the Armed Forces reserves (such as weekend drills) has also been covered by Social Security.
Under certain circumstances, special extra earnings for your military service from 1957 through 2001 can be credited to your record for Social Security purposes. These extra earnings credits may help you qualify for Social Security or increase the amount of your Social Security benefit.
Special extra earnings credits are granted for periods of active duty or active duty for training. Special extra earnings credits are not granted for inactive duty training.
If your active military service occurred from 1957 through 1967, we will add the extra credits to your record when you apply for Social Security benefits.
From 1968 through 2001, you do not need to do anything to receive these extra credits. The credits were automatically added to your record.
After 2001, there are no special extra earnings credits for military service
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