.....Advertisement.....
.....Advertisement.....

Business Watch: Social Security looms for Baby Boomers

-A A +A

Talk about a stampede: The first wave of Baby Boomers begins turning age 65 in 2011, which means they’ll soon be tapping Social Security retirement benefits, if they haven’t already. If you’re a Boomer and haven’t yet investigated how this program works, this may be a good time to learn the ropes.
When you work and pay Social Security taxes, you earn up to four “credits” per year based on net income. In 2011, it takes $1,120 in income to earn one credit. You must accumulate at least 40 credits over your lifetime to qualify for a benefit; however, those who haven’t earned sufficient credits sometimes qualify based on their spouse’s work record.
Retirement benefits are calculated based on earnings during 40 years of work. The five lowest-earning years are dropped and each year not worked counts as zero. “Full retirement age” increases gradually from 65 for those born before 1938 to 67 if born after 1959.
If eligible, you may begin drawing benefits at 62; however, doing so may reduce your benefit by up to 30 percent. The percentage reduction gradually lessens as you approach full retirement age. Alternatively, if you postpone participating until after reaching full retirement age, your benefit increases by 7 to 8 percent per year, up to age 70.


If you subscribe to the newspaper, you receive FREE access to all the exclusive content of the web site! Simply register to receive uninterrupted access to our award-winning and in-depth local online content!

Renew Current or Past Subscription / Register for Online Subscription

If you currently subscribe or have subscribed in the past to the Los Alamos Monitor, then simply find your account number on your mailing label and enter it below.

Click the question mark below to see where your account ID appears on your mailing label.

Newspaper Acct. ID:
info
Street Address:
(exactly as it appears on the label)

If you are a subscriber and you do not know your account ID or don't have a copy of your newspaper available that shows the information on the address label you can click continue below to search for your account.

New Subscription/30 Day Free Trial Account

If you are new to the award winning Los Alamos Monitor and wish to get a subscription or simply gain access to our online content then please enter your ZIP code below and continue to setup your account.

ZIP Code:



Create a limited access account.
Register to participate in community forums, post on the community calendar, blog etc. This registration does not give you full access to read our award winning content, etc.

The Los Alamos Monitor | lacirculation@lamonitor.com | 505-662-4185
256 DP Road, Los Alamos, NM 87544
Office Hours are 8:00 a.m. to 5:00 p.m., Monday through Friday