How to Make Sure You Are Getting Credit for All You Have Earned
Whether you have spent many years working for the same employer, are self-employed, or have switched careers and worked in multiple fields, it is important to make sure that Social Security has a complete and accurate record of your earnings. You might assume that the amount of money you have earned has been properly reported by your employer or recorded from your tax filings, but mistakes and omissions can happen for various reasons and even small errors can affect your future benefits. The good news is that you can verify the information Social Security has on file and you can request corrections if necessary.
What is a Social Security record of earnings?
Every year, your employer reports how much money you have earned, or if you are self-employed, you tell Social Security directly. This is a detailed list of your earnings throughout your lifetime and it is the base used to calculate:
- Monthly retirement benefits
- Disability benefits
Why would there be errors in your record of earnings?
The Social Security Administration (SSA) states that there are a few reasons that earnings might be missing from your record:
- Your employer reported your earnings using the wrong name or Social Security number (SSN).
- You got married or divorced and changed your name but never reported the change to the SSA.
- Your employer reported your earnings incorrectly.
- You worked with a Social Security number that didn’t belong to you.
How to Check Your Earnings Record
Create or log in to your “My Social Security” account on the ssa.gov website. Once you are in your account, you can review your earnings statement. Make sure your income looks accurate for each year you worked.
What to Do if Something is Wrong
If the earnings listed do not match your records, you can fill out Form SSA-7008 (Request for Correction of Earnings Record). Documentation such as W-2s, 1099s, tax returns or pay stubs may need to be attached to the form to support your claim.
The Social Security Administration suggests reviewing your earnings record each year in August to ensure that the previous year’s earnings are accurately included. It only takes a few minutes to log in to your account and check on this important information. By making this an annual habit, you might catch a mistake that could make a big difference in lifetime benefits. If you would like more information, please contact us.
