Ask Larry

How Can I Get Monies From My Social Security Work?

How can I get monies worked for from Social Security approx. from 1960-1972/4 yrs. and before monies were put into a pension (STRS) from 1965-2004.
Ret. teacher,

Hi. You can't get a refund of the Social Security taxes you paid if that's what you're asking. Social Security taxes are required to be paid on any Social Security covered wages regardless of whether or not the person who earned the wages ever becomes eligible for Social Security benefits.

If you had at least 40 quarters (QC) of Social Security covered earnings and if you're at least age 62, you could potentially collect Social Security retirement benefits based on your Social Security covered earnings. Otherwise, unless you get to 40 QCs at some point in the future, the Social Security taxes you paid would be used to pay benefits to other people who qualify for benefits.

Best, Jerry

Category: 
Posted: 
Jun 20 2022 - 12:29pm
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.