5 Things To Know About Divorce and Social Security, #199

Retire With Ryan

If you are divorced and approaching 62, you may qualify for social security benefits based on your ex-spouse's earning record. But who qualifies? When can you collect it? How much can you collect? Does your ex-spouse find out? I’ll answer the things you need to know in this episode of Retire with Ryan.

You will want to hear this episode if you are interested in...

• [1:11] Sign up for Retirement Readiness Review
• [1:46] Divorce and social security
• [3:12] What makes you eligible for the benefit?
• [6:28] Other things you need to know
• [8:06] How much can you receive?
• [11:49] What if your ex-spouse is deceased?
• [13:51] How to apply (and what you need)
• [16:43] What should you do if you’re divorced?

What makes you eligible for the ex-spousal benefit?

You’re eligible if:

• You were married at least 10 years
• You haven’t remarried
• Your ex-spouse is 62 or older and eligible for benefits
• The divorce occurred at least two years prior to applying
• Your ex-spouse doesn’t need to have filed for benefits

Your own benefit cannot be higher than the spousal benefit. That simply means that you’re able to apply for your benefits and the spousal benefit and choose the higher of the two. You’re eligible for up to half of your ex-spouse's benefit or your own.

What else do you need to know?

• Benefits for current or other ex-spouses are not affected. If your ex-spouse is collecting, it won’t impact what they’re receiving.
• Secondly, your ex-spouse cannot stop you from claiming this benefit. They have no control over this.
• Divorce settlements have nothing to do with this. If you qualify, you’re entitled to the benefit.
• Lastly, any ex-spouse can claim benefits. Your spouse could claim up to half of your benefit as well.

How much can you receive?

If you were born after 1960, your full retirement age is 67 or later. For anyone born before 1959, your full retirement age is 66 and 10 months. Every year before that the full retirement age decreases by two months. Why is this important?

To get the full 50% ex-spousal benefit, you have to wait until your full retirement age. If your full retirement age is 67 and you want to collect at 62, you’d get 32.5% of your ex-spouse’s full retirement benefit. If you waited until you turned 63, you’d get 35%. The percentage increases every year until it caps at 50% when you hit your full retirement age.

If you claim your benefit before your full retirement, there’s also a limit to how much you can earn and still receive the benefit. The earnings limit in 2024 is $22,320. That limit is in effect from 62–66. If you earn over that amount, your benefit will be reduced by $1 for every $2 you make over $22,320.

The year you retire, you can make up to $59,520 before your benefit is reduced by $1 for every $3 you’re over. Starting the month you retire, there’s no limit and you can receive your full benefits.

How does it work if your ex-spouse is deceased?

This is known as a surviving divorced spouse benefit. The same eligibility rules apply—with a few changes:

• You can start climbing benefits as early as age 60 (with a reduction)
• You can apply for the survivor benefit as a restricted application and let your own benefit grow

If your benefit is more than half of your deceased ex-spouse’s benefit, you can collect the percentage you’re eligible for while yours continues to defer. Your benefit caps out at 70 at which point you’d collect your benefit.

Resources Mentioned

• Retirement Readiness Review
• Subscribe to the Retire with Ryan YouTube Channel
• Online social security calculator
• SSA.gov

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