Divorce And Social Security Retirement Benefits In Illinois
Divorce changes many parts of life, including your plans for retirement. Many people do not realize that divorce and Social Security benefits may still be connected even after a marriage ends.
At Lake Toback DiDomenico, we often help clients who want to understand what income they may have later in life. In some cases, a divorced spouse can collect Social Security based on a former spouse’s work record. Knowing these rules can help you plan ahead during a divorce and avoid surprises later.
The 10-Year Rule: Eligibility Requirements For Divorced Spouse Benefits
One of the most important Social Security divorce rules in Illinois is the 10-year rule.
To qualify for divorced spouse benefits, the marriage must have lasted at least 10 years. The person applying must also be age 62 or older and not remarried.
Another rule also applies. The benefit based on your own work history must be less than the benefit available from your former spouse’s record.
If these conditions apply, you may collect benefits based on your ex-spouse’s earnings history. Your claim does not reduce the benefit your former spouse receives.
Calculating Your Benefit: How Your Ex-Spouse’s Earnings Affect Your Payment
The amount you receive depends on when you start collecting benefits.
If you wait until full Social Security retirement age, you may receive up to 50% of your former spouse’s benefit. If you start benefits earlier, the monthly payment will be smaller. Many people choose to wait so they can receive the full amount available.
Your former spouse does not have to approve the claim. In most cases, they will not even know you applied.
The Impact Of Remarriage On Social Security Eligibility
Remarriage can change your eligibility for divorced spouse benefits.
If you remarry before age 60, you usually lose the ability to collect benefits based on a former spouse’s record. If that later marriage ends because of divorce, annulment or death, you may become eligible again.
Because remarriage can affect retirement income, it is important to understand these rules before making big decisions about your future.
Social Security As Nonmarital Property In Illinois Divorce Proceedings
Illinois courts do not divide Social Security benefits in a divorce. Federal law protects these benefits from division as marital property.
However, courts often divide other retirement assets during property division. These assets may include:
- 401(k) accounts
- Pension plans
- Other employer retirement plans
Courts often use a qualified domestic relations order (QDRO) to divide these accounts.
Speak With An Illinois Divorce Attorney About Retirement And Social Security
At Lake Toback DiDomenico, our attorneys help clients across Chicago and Cook County protect their financial interests during divorce. Speak with an experienced Illinois divorce lawyer to learn how retirement assets and Social Security may affect your future. Contact us today at 312-288-8985 or via our online form to schedule a consultation.