Steps to File for Social Security Retirement Benefits

What steps you need to take when you are applying for your Social Security retirement benefits.

Social Security is a large part of most American’s retirement plan. It’s important to make sure that you have all the steps covered when you are filing for Social Security as part of your retirement plan.

What do I need to know about Social Security benefits before I retire?

While most American workers hope to retire at 65 and start their Social Security benefits at that time, you are able to start as early as age 62 and as late as age 70. Social Security acts as a replacement income in retirement based on a percentage of your total lifetime earnings. Social Security replaces earning based on the highest 35 years that you worked and is then distributed as a percentage of that amount. You have been paying into Social Security throughout your entire working career.

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Before you file for Social Security Benefits

Remember that Social Security should not be your entire retirement plan, but a supplemental income to ensure you have enough money to have a long retirement. To accurately plan your retirement, you should familiarize yourself with what your Social Security benefits will be. Here’s what you should do before you file:

• Make sure you are eligible for benefits
• Know how much you have earned throughout your life
• Determine what age you will begin to draw your benefits
• Decide what age you will retire and if you want to continue working part-time.
• Estimate your monthly benefits

A retirement planner can work with you to determine how Social Security should play into your retirement plan.

It’s important that you have the necessary documents when you apply. The Social Security Administration requires:

• Dates of current and previous marriages, and where you were married.
• U.S. military service dates and branches.
• Employer names and dates for the past two years.
• Self-employment income and type of business.
• Bank information to set up your direct deposit.
• Information on family members who may be eligible to receive benefits on your record.

In addition to this information you will be asked to provide documents such as your birth certificate, W-2 tax forms, and more. You can find a checklist of all required information and documents here.

How to apply and begin receiving your Social Security benefits

Once you have the necessary documents, the easiest way to file for your benefits is online. You can complete your application from start to finish in a short amount of time. If you don’t have access to the internet or would prefer to do it offline, then your local Social Security office will be able to help you.

After you’ve applied, you’ll receive a letter in the mail from the Social Security Administration letting you know their decision about your benefits. You can repeal any decision made by the SSA within 60 days of receiving the decision. You can check the status of your application online or by phone.

Filing for Social Security doesn’t have to be difficult. The most important part of Social Security is what you do before you file. Know your monthly estimated income, when you plan to retire, and how these benefits will work with your overall retirement plan.

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