Elderly individuals in Boca Raton, Florida, often face financial challenges after going through a divorce, especially if they have limited income. Many may qualify for Social Security benefits, but their checks may not be substantial if they have a limited work history or low earnings. However, there is a potential for ex-spouses to become the key to larger Social Security checks for some divorced individuals.
When calculating Social Security benefits, the government assesses an individual’s 35 highest-earning years, adjusted for inflation. These figures are used to determine the average indexed monthly earnings (AIME), which then influences the primary insurance amount (PIA). The age at which an individual claims Social Security can also impact the amount of their monthly checks.
For those who were married, there is the additional consideration of spousal Social Security benefits. Married couples may be eligible for a spousal benefit, which can be up to half of the worker’s PIA. However, certain conditions apply, such as the requirement that the worker must already be claiming benefits.
Notably, ex-spouses can also qualify for spousal Social Security benefits, provided they were married for at least 10 years and have not remarried. Additionally, their ex-spouse must be currently receiving Social Security benefits or the divorce must have occurred at least two years ago. Claiming a spousal benefit typically involves providing specific information to the Social Security Administration, which is a process that can take several weeks from application to the first check being issued.
This information is crucial for seniors navigating the complexities of Social Security benefits after a divorce. For those facing financial strain, exploring all available options to maximize their benefits can make a substantial difference in their financial stability during retirement. Therefore, seeking guidance and understanding the eligibility criteria for different benefits is essential for anyone in this situation.