Social security benefits, a review
The Social Security service bases the number of credits a person receives on the amount of money they earn and the amount of time they have worked. The necessary income level for receiving social security benefits credits rises a bit each year; as of 2008, you receive one credit for every $1,050 you earn. These credits are also called quarters, as you can earn a maximum of four of them a year; any social security "quarters" that you earn during your working career will remain on your record even during times of unemployment. In order to qualify for social security benefits, you need to reach a certain number of credits. The number of credits you need for social security is based on your current age, and is calculated by the number of years you have worked.