Logo

What Benefits Do

After you know more about different types of benefits, it’s easier to understand how each benefit provides security to a family.  A simple guide is below. A common theme emerges when you look at each purpose: SECURITY FOR THE FAMILY.  All of these benefits provide a level of financial stability to individuals and families during common life transitions of retirement, disability and death.

BENEFIT PURPOSE
Retirement Benefits on Individual Account (#1) Provide individual with secure income in last years of life.
Retirement Benefit for Spouse (#2) Provide individual with secure income in last years of life through spouse’s work. Spouse is allowed to collect in recognition that the family worked as one economic unit.
Retirement Benefit for Divorced Spouse (#2) Provide individual with secure income in last years of life through divorced spouse’s work. Former spouse is allowed to collect in recognition the 10 plus years that the family worked as one economic unit.
Retirement Benefit for Spouse Raising Child of Retired Worker Replaces income that retired spouse would have provided during his/her working years while individual raises their minor child who is under the age of 16.
Dependent Benefit for Child of Retired Worker Replaces income that retired parent would have provided during his/her working years to support minor child.
Childhood Disability Benefit for Child of Retired Worker (#10) Replaces income that retired parent would have provided during his/her working years to support child with disability in child’s adult years.
Widow/Widower Benefit (#3) Provides income support or replacement income to widow or widower at age 60 to assure security in later years of life.
Disabled Widow/Widower Benefit (#4) Provides same income support or replacement income to all widow or widower, just does so at 50 instead of 60 due to disability that makes generating work income more difficult for the individual
Divorced Widow/Widower Benefit (#3) Recognizing the years spent together as one economic unit, provides income support or replacement income to widow or widower at age 60 to assure security in later years of life.
Divorced Disabled Widow/Widower Benefit (#4) Recognizing the years spent together as one economic unit, provides same income support or replacement income to all widow or widower, just does so at 50 instead of 60 due to disability that makes generating work income more difficult for the individual
Widow/Widower Raising Child of Deceased Worker Replaces income that deceased spouse would have provided to support individual while raising their child.
Dependent Benefit for Child of Deceased Worker Replaces income that deceased parent would have provided to support minor child.
Childhood Disability Benefit for Child of Deceased Worker (#10) Replaces income that deceased parent would have provided child with disability in child’s adult years.
Dependent Benefit for Parent of Deceased Worker Replaces income that deceased child was providing to parents and would have continued to provide.
Disability Benefits on Own Account Replaces income that individual would be making if disability did not impact the ability to earn income.
Spouse Raising Child of Disabled Worker Replaces income that spouse would have provided if his/her disability did not impact the ability to earn income.
Dependent Benefit for Child of Disabled Worker Replaces income that parent would have provided if his/her disability did not impact the ability to earn income.
Childhood Disability Benefit for Child of Disabled Worker (#10) Replaces income that parent would have provided child with disability in child’s adult years if his/her own disability did not impact the ability to earn income.
Supplemental Security Income for Child with Disability Provides low-income/low asset family with child with disability with supplemental income to assure food and shelter needs of child are met.
Supplemental Security Income for Adult with Disability Provides low-income/low asset adult with disability with income for food and shelter. Can supplement a lower Social Security Insurance income.
Supplemental Security Income for Adult Age 65 or Older Provides low-income/low-asset older adults with income for food and shelter. Can supplement a lower Social Security Insurance income.

 

How does your family member’s story fit in? Tell us.

Share: