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

Displaying 1461 - 1470 of 10063 questions.

Can My Wife Apply For Spousal Benefits If My First Benefit Payment Is Pending?

This is regarding Spousal benefit application
I got approved for my benefit from Jan 2022. I will get 1st check in the 4th week of Feb 2022.
My wife got approved, prior to me, for her benefit from Feb 2022 and will receive her 1st check in the 3rd week of Mar 2022). This is based on her earnings record.
Based on my rough calculations, she may be able to get more thru spousal benefit because of my higher PIA/FRA.
If she applies (online) for spousal benefit this month (Jan 2022), can she state in her application that I am receiving SS benefit, although my . . . Read More

Category: Filing For Benefits
Posted: Jan 12 2022 - 5:22pm

What Should I Do?

My ex-husband died in 2011 he was divorced I left him and 1988 and he remarried and Social Security said I need a divorce decree and I tried everywhere is that he's been there said I'm still married for Social Security still said I need to get a divorce decree that's impossible when I don't know where he got married or if he got a divorce what should I I do

Hi. I'm not sure that I understand your situation. If you're applying for survivor benefits as a divorced spouse, then you must prove that you were married to the deceased worker for at least 10 years . . . Read More

Category: Divorced Widow(er) Benefits
Posted: Jan 12 2022 - 3:10pm

If SS Funds Were Withdrawn From A Deceased Person's Account How Does The Bank Know Who To Go After For The Money?

If SS funds was withdrawn form the deceased account in the month the Peron died how does the bank knows who to go after to have the money returned. The decease does not own anything or estate but does have adult children who withdrew the money

Hi. That's outside my area of expertise, but I believe it's the bank's responsibility to try and recover such funds. Social Security benefits are actually paid by the U.S. Treasury Department, and banks that receive any incorrectly paid Social Security benefits must return those funds to the Treasury Dept. It would . . . Read More

Category: Miscellaneous
Posted: Jan 12 2022 - 2:43pm

Is It True That My Wife Must Be Full Retirement Age To Receive My Full Benefit Amount If I Die?

Hello Larry. I am 69 and my wife is 57. I have held off applying for social security in order to fully maximize my monthly benefit payment. I will turn 70 in August of this year and will apply. My wife plans to apply for her SS benefit in 5 years when she will be 62. My question is, if/when I die before her, when will she qualify to take my benefit amount in "full" and give up her own? What if I die before she even reaches 62? It looks like that we both may need to live until I am 79 and she is 67 in order for her to be able to receive my "full" benefit amount, as I have heard . . . Read More

Category: Widow's Benefits
Posted: Jan 12 2022 - 1:22pm

How Do I Make Sure I Receive Reciprocity For My Earnings In The U.K.?

I worked in the UK for 8 years and want to make sure I receive reciprocity when I start collecting Social Security soon. I paid UK taxes as a UK resident, and my Social Security summary records $0 in contributions for those years. How do I make sure that gets done right, please? Thank you.

Hi. I'm not sure what type of reciprocity you're expecting. Earnings on which you paid UK taxes and not U.S. Social Security taxes won't show up on your U.S. Social Security earnings history, nor will you receive any credit for your UK earnings when your U.S. benefits . . . Read More

Category: Earnings Subject To Social Security Taxes
Posted: Jan 11 2022 - 6:09pm

Would I Possibly Qualify for Widower Benefits?

Hi Larry, I wanted to learn more about the widows and widowers program from social security and would I possibly qualify? I am 49 years old and my wife passed away six years ago. At the time, our son was 18 months old. I’ve fortunately been able to raise him as best I can without his mom but since being laid off things have become more difficult. Additionally, I think almost being 50 has not helped in my job search. My son does receive monthly social security payments based on my wife’s work history.

Thanks,
Mark

Hi Mark. I'm sorry for your . . . Read More

Category: Survivor Benefits
Posted: Jan 11 2022 - 4:46pm

Will My Wife Get A Higher Payment Once I Retire?

I am considering retiring this January at 66 years and 6 months, My wife who is 63 started taking her benefit at 62. My benefit would pay$2644, She currently gets $679 for the past 11 months. Will she get a higher payment once I retire? If so,how much??

Sincerely

Kelly

Hi Kelly. Yes, it sounds like your wife will be eligible for some additional spousal benefits once you start collecting your Social Security retirement benefits. Your wife's unreduced spousal rate would be calculated by subtracting her primary insurance amount (PIA) from 50% . . . Read More

Category: Spousal Benefits
Posted: Jan 11 2022 - 4:23pm

Is Your Previous Answer Correct?

Hello,

I was looking at the question before this page. Person wanted to know if wife's benefit is based on husbands's PIA at FRA or is based on the COLA affected amount if amount is higher when the wife applies 2 years later for benefits on husband. The answer I saw looks like the wife would receive a higher benefit based on the husband's current benefit with COLA,.

I think it should be based solely on the PIA at FRA or 66 years and 6 months of the husband in the example. Thank you

Hi. I'm not sure which prior Q & A you refer to, so I'll . . . Read More

Category: Spousal Benefits
Posted: Jan 11 2022 - 1:24pm

Will I Receive An Additional Refund For The Medicare Premiums I Overpaid?

When approved for SS medicare I had already paid for 3 months of medicare. I paid for out, nov, dec. The first of dec the refunded me for 2 months. Will I received the 3rd month of overpayment?

Hi. Social Security should refund any duplicate Medicare premiums you paid, but I don't know if you're actually due an additional refund. Social Security benefits are paid a month behind, whereas Medicare premiums are collected in the month of coverage. So, for example, the Social Security payment you received in December represented your benefit payment for . . . Read More

Category: Medicare
Posted: Jan 11 2022 - 1:12pm

Which Of My Two Possible Strategies Would Be Best?

Dear Larry - I'm 67 (past FRA), am planning to work for 2 more years, and debating two strategies. (1) work for two more years and start collecting retirement benefits at that time. OR (2) start collecting benefits now (67) but keep working for two more years. I understand the government automatically checks if any of my post-retirement earnings years would be more than my 35 highest my 67 year old benefits were calculated at and if so, automatically increase my benefits to make up the difference. If two years of "make up the difference" increases would give me the same monthly . . . Read More

Category: Filing Strategies
Posted: Jan 11 2022 - 12:46pm

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