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Old 03-21-2016, 01:24 AM
 
Location: Wisconsin
671 posts, read 1,230,615 times
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I have an account on the SSA website, but I cannot find how many quarters I currently have. My 2015 earnings have been updated, and I see my earning history. Thanks.
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Old 03-21-2016, 01:35 AM
 
Location: Los Angeles area
14,018 posts, read 17,756,785 times
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When you look at your earnings history, normally one year equals four quarters. Or perhaps not if there were years when you worked only part of the year? So under normal circumstances once you have ten years of earnings, you have reached that magic 40 quarters.

(A little history: My parents' generation needed only 20 quarters to qualify for SS retirement benefits, and their "full retirement age" was 65.)
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Old 03-21-2016, 07:19 PM
 
Location: Wisconsin
671 posts, read 1,230,615 times
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Thanks. So they don't actually list the number of quarters?

In May of 2015 I went back to work part time, and worked 7 months. I earned about $5,900. Since it was only 7 months, am I to assume I earned 2 quarters?
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Old 03-21-2016, 07:31 PM
 
Location: Silicon Valley
18,134 posts, read 23,010,120 times
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I just logged into my account, and if you click on "Print/Save Your Full Statement," it will include your earning info, and also includes an explanation of how they calculate credits. I'll cut and paste it here:

Quote:
To qualify for benefits, you earn "credits" through your work — up
to four each year. This year, for example, you earn one credit for
each $1,260 of wages or self-employment income. When you've
earned $5,040, you've earned your four credits for the year. Most
people need 40 credits, earned over their working lifetime, to
receive retirement benefits. For disability and survivors benefits,
young people need fewer credits to be eligible.
So, you should be able to figure out how many credits you got by how much you earned. My statement doesn't break anything down by how many credits per year or quarter.
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Old 03-21-2016, 11:34 PM
 
Location: Northern VA
512 posts, read 633,942 times
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You need to plug your earnings into the social security benefit calculator. It will tell you how many quarters each years earnings cover. My first years show 2, 2 and 1 quarters of coverage.

It also shows:
Fully insured status:
Required quarters of coverage: 40
Actual quarters of coverage: 137
Insured status: Fully insured
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Old 03-22-2016, 01:28 AM
 
Location: Wisconsin
671 posts, read 1,230,615 times
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Quote:
Originally Posted by NoMoreSnowForMe View Post
I just logged into my account, and if you click on "Print/Save Your Full Statement," it will include your earning info, and also includes an explanation of how they calculate credits. I'll cut and paste it here:



So, you should be able to figure out how many credits you got by how much you earned. My statement doesn't break anything down by how many credits per year or quarter.
Thanks. I read that on their website, but I'm confused about one thing. Since I earned $5,900 for 7 months, would I have earned 2 quarters, or 4 since I went over the dollar amount required($5,040)?
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Old 03-22-2016, 02:40 AM
 
Location: Northern VA
512 posts, read 633,942 times
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I just looked at my SS statement and it says that you earn one credit for each $1,220 of wages or self-employment income.
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Old 03-22-2016, 09:46 AM
 
Location: Silicon Valley
18,134 posts, read 23,010,120 times
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Quote:
Originally Posted by Jim Mac View Post
Thanks. I read that on their website, but I'm confused about one thing. Since I earned $5,900 for 7 months, would I have earned 2 quarters, or 4 since I went over the dollar amount required($5,040)?
Four. The requirement is per year, not per quarter. You could get all 4 credits in one month, if you made that much money.

I didn't realize this was how the credits were earned. It's kind of a rip-off for poor people, in a way, isn't it?
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Old 03-22-2016, 01:58 PM
 
Location: Wisconsin
671 posts, read 1,230,615 times
Reputation: 706
It is. I thought I could only earn 1 quarter for each 3 months, no matter how much money I earned. Their website is confusing.

Thanks all.
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Old 03-22-2016, 11:39 PM
 
Location: Silicon Valley
18,134 posts, read 23,010,120 times
Reputation: 35358
Read the quoted section again above. Don't complicate it. It says once you reach that amount of money, you've earned your 4 credits for the year. Simple.
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