Which of the following is a requirement for nearly all workers today to qualify for full retirement benefits under the Social Security system?
A) The individual must be employed in a job covered by Social Security for at least 60 quarters, or 15 years, which need not be consecutive.
B) The individual must be employed in a job covered by Social Security for at least 50 quarters, or 12.5 years, which need not be consecutive.
C) The individual must be employed in a job covered by Social Security for at least 50 consecutive quarters, or 12.5 years.
D) The individual must be employed in a job covered by Social Security for at least 40 quarters, or 10 years, which need not be consecutive.
E) The individual must be employed in a job covered by Social Security for at least 40 consecutive quarters, or 10 years.

Question

Quizplus · Accepted Answer

To qualify for full retirement benefits under the Social Security system, an individual must have earned at least 40 credits, or worked in a job covered by Social Security for at least 40 quarters (which need not be consecutive). Each quarter of coverage is based on a certain amount of earnings, so the amount of earnings required to earn a quarter of coverage changes each year. Currently, an individual must earn $1,470 to earn one quarter of coverage, so to earn 40 quarters of coverage, the individual must have earned at least $58,800 over their working life.

Which of the Following Is a Requirement for Nearly All