Social Security credits

Social Security credits definition - business

Social Security credits

Credits toward retirement, survivor, and disability benefits that are secured by earning a prescribed amount of annual income subject to Social Security taxes. An individual can earn a maximum of 4 credits per year, with a minimum of 40 credits required to qualify for retirement benefits. Disability and survivor benefits may require fewer credits. Credits earned for Social Security also count toward Medicare eligibility at age 65.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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