Ask Larry: Questions and Answers | BAM - Maximize My Social Security

Displaying 1351 - 1360 of 10063 questions.

Why Did I Get My Social Security Benefit Early This Month?

Why was my social security deposited on the Feb 3rd when i should have got it on the 16th this month? Will they ask for it back?

Hi. I have no idea, but I wouldn't think Social Security will ask you to return the payment unless you get 2 payments this month.

What I can tell you is that the day of the month on which your benefits are paid is based on Social Security law (https://www.ssa.gov/kc/rp_paybenefits.htm). That law was amended by Congress in 1997, and it hasn't changed since that time. . . . Read More

Category: Payment Dates
Posted: Feb 5 2022 - 9:19am

Is There Anything I Can Do To Avoid Being Forced To Take A Reduced Benefit?

I’ve been disabled since 2003 yet due to being a full time mom not enough work points so receiving ssi in Oklahoma, I turn 62this Jan 2022. I’m eligible for ex spousal social security retirement on his record. He’s 67 & just filed for his. Why am I not getting half on his? My ssi check stops now. Why am I being punished because I became disabled in 2003? They cut it by 37%, Is there anything I can do to stop this? I was not granted alimony due to his ability to hire a high dollar attorney. Ideas?

Hi. Not really. You could refuse to apply for divorced . . . Read More

Category: Supplemental Security Income
Posted: Feb 4 2022 - 5:17pm

Can I Get Social Security To Start My Medicare Earlier If I Need Life-Saving Surgery?

I AM ON SSDI AND MY PART B DOESNT START UNTIL JULY 1ST BUT I HAVE A VERY SERIOUS SURGERY COMING UP THAT COULD MEAN LIFE OR DEATH FOR ME. IS THERE ANYWAY I CAN GET SS TO START MY PART B EARLIER?
THANK YOU

Hi. Probably not. There's no provision for starting Medicare coverage early based on need. Disabled individuals become eligible for Medicare beginning with the earlier of a) the month they turn age 65, or b) the 25th month of their entitlement to disability benefits. The only possible way that you might qualify for Medicare sooner than that is if . . . Read More

Category: Medicare
Posted: Feb 4 2022 - 5:08pm

Is What Social Security Told Me About The 5.9% Increase Correct?

I was just told by the SS Admin that this is not true. They said the person had to be drawing benefits already to qualify for the 5.9% increase. I was born in 1956 and my benefit did not get credited.

Hi. What you were apparently told by Social Security isn't correct. Everyone born prior to January 2 1960 will receive credit for the recent 5.9% cost of living (COLA) increase when calculating their Social Security retirement benefit rate. They DO NOT need to currently be collecting benefits in order to receive credit for the increase ( . . . Read More

Category: Cost Of Living Increases
Posted: Feb 4 2022 - 3:07pm

Would It Be Better To Rollover My Teacher Retirement Funds To An IRA?

I turn 65 this year and thinking of taking SS at the year end. I also have mobey in Teacher Retirement System. Only about $5000 but a monthly annuity of $ 180.00 . SS says they will take an extra 100.00 a month from my SS if I take the TeCher Retirement annuity.
Would it be better to pull all my funds in Teacher Retirement and rollover to an IRA? And keep all of my SS? I'm at a loss on the best procedure.

Hi. Assuming that you already meet the requirements to collect a monthly Teacher's Retirement System (TRS) pension, then even if you choose to . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Feb 4 2022 - 1:07pm

Will WEP Apply If I Claim Benefits Under My Husband's Social Security Record?

I am a US/UK dual citizen. I worked in the UK for about 19 years in a public service role, and I will have a pension from that and eventually a small state pension. I have worked in the USA for 19 years as a self employed person, paying both employee and employer social security payments. I will not reach the 20 years for graduated WEP deductions due to two years under the substantial earnings. My personal record shows benefits higher than if I claimed under my husbands record, who has 30 years payments. Mine though, will be subject to WEP, reducing it substantially. If I claim . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Feb 4 2022 - 1:01pm

Do I Get Extra Credit For My Active Military Service?

I was on active duty from 1958 to1960, do I get extra credit for this

Hi. Yes, but it's not automatic. Social Security adds deemed military wages (DMW) to a person's actual earnings for periods from 1957 through 2001 during which they were on active duty in the U.S. military (https://www.ssa.gov/OP_Home/handbook/handbook.09/handbook-0953.html). From 1968 on, DMWs are credited automatically by Social Security. But, for the years 1957 to 1967, veterans must normally submit . . . Read More

Category: Deemed Military Wages
Posted: Feb 4 2022 - 7:50am

Can I Start Getting My Deceased Husband's Social Security At Age 62?

Can I start getting my deceased husband social security at age 62? (May 1960). I still work full time

Hi. You already meet the minimum age requirement for widow's benefits, which is age 60, but whether or not you could actually be paid any benefits depends on your widow's rate and the amount of your earnings. If you claim benefits this year (i.e. 2022), Social Security would need to withhold $1 of your benefits for every $2 that you earn in excess of $19,560.

It sounds like your best strategy for claiming benefits would likely be one of the . . . Read More

Category: Widow's Benefits
Posted: Feb 3 2022 - 6:01pm

What Are Your Thoughts On When I Should Switch To My Own Benefits?

I'm currently using survivors benefits while my benefits gained from DRC. My own benefit is/has been greater. In May I will be 70. So I am looking to apply for my SSA with its DRC. However, the DRC additions has made my SSA about $750 more, right now. Question: should I take it before May (actual payment in June)? My family's longevity is about 80 years (most died due to cancer). Currently I'm healthy, but 10 years ago, I went through chemo, radiation therapy and surgery. So I hope to get at least 8 more years. What are your thoughts?

Hi. My answer would . . . Read More

Category: Filing Strategies
Posted: Feb 3 2022 - 5:48pm

When I Take Part Of My Ex's Social Security Will I Then Be On SSDI?

hi...i am on SSI for disability.i dont qualify for my own SS. i am turning 62 soon & I was told id have to take part of my ex husbands SS....will i then be considered to be on SSDI? I have medicaid now & im afraid that my exes percent of his SS will disqualify me for my medicaid at 62

Hi. No. Social Security disability (SSDI) benefits are based on a person's own earnings history. If you're only collecting Supplemental Security Income (SSI) payments, you apparently don't have enough Social Security quarters of coverage to qualify for SSDI benefits . . . Read More

Category: Supplemental Security Income
Posted: Feb 3 2022 - 11:05am

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