Social Security special minimum benefit program - Bankrate
Social Security special minimum benefit program is a special minimum primary insurance amount (PIA) enacted in 1972 to provide adequate benefits to long-term low earners. For individuals with a long history of low earnings, the special minimum benefit could be higher than their Social Security retirement benefits. In 2019, only about 32,000 beneficiaries relied on the special minimum benefit and as wages increase, Social Security predicts fewer and fewer individuals will qualify for this benefit in the future. Rachel Christian details the special minimum benefit program, explaining its purpose, eligibility requirements, and how it compares to the standard Social Security retirement benefit. Read Ms. Christian’s article here…
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