Can I Receive A Spousal Benefit While My Benefits Are Suspended?
i started receiving social security at 62, I suspended social security at fra. my spouse will be 62 in 2022. can I receive a spousal benefit when they turn 62.
Hi. No. First off, even if you suspend your benefits you continue to be technically entitled to those benefits. So, if you apply for spousal benefits your spousal rate would be calculated by subtracting your primary insurance amount (PIA) from 50% of your spouse's PIA. A person's PIA is equal to their Social Security retirement benefit rate if they start drawing their benefits at full retirement . . . Read More
Category: Spousal Benefits
Posted: Dec 18 2021 - 4:15pm
Will My Wife's Spousal Rate Be Calculated Based On My PIA At My FRA?
I plan to begin collecting social security payments next year at age 70. At that time, my wife plans to begin collecting spousal benefits based on my earnings. My PIA at FRA was approximately $2,166. Will my wife's spousal benefit be based on that amount, or will the COLAs between my FRA and age 70 be used in calculating her benefit?
Thanks!!
Hi. Your wife's unreduced spousal rate will be calculated based on 50% of your primary insurance amount (PIA) at the time she files her claim. That would include any cost of living (COLA) increases that have . . . Read More
Category: Spousal Benefits
Posted: Dec 18 2021 - 11:33am
Do You Know Of Anything That Could Help My Situation?
I was awarded SSDI in October . I was also told I would receive no back pay due to the fact that the judge rendered me disabled March 25 2021. One day before I turned 50. My lawyer told me that I would receive back pay for SSI and SSDI from date of filing which was Sept 2019. Why the judge did that is beyond me when I had my NCV'S showing I was chronic since Feb 2020. I been receiving injections in spine and hip since 2018 and was on opioids. I stopped opioids because I became addicted . So the judge acted as if pretty much such I no longer take pain meds I guess I'm good. He . . . Read More
Category: Disability Benefits
Posted: Dec 18 2021 - 11:15am
If I Die Before My Spouse Will He Receive My Unreduced SS Or My Reduced SS?
I have a government pension and my spouse will receive a benefit if I predecease him. Will he receive my unreduced SS or my reduced SS.
Both are higher than his own.
Hi. That depends on the type of reduction involved. If your benefit rate is reduced due to the Windfall Elimination Provision (WEP), that reduction will not apply when calculating the survivor benefit amount payable from your account. However, if your benefit rate is reduced because you started drawing your Social Security retirement benefits prior to full retirement age (FRA), then . . . Read More
Category: Widow(er) Benefits
Posted: Dec 18 2021 - 10:37am
Will My Part B Medicare Premium Be Deducted From My SS Payment If The Premium Is More Than The Payment?
Will SS deduct my Medicare part B premium if my SS benefit is less than the premium?
Hi. Yes. If your monthly Medicare premium owed exceeds your monthly Social Security benefit rate, Social Security withholds your entire benefit payment and then you are billed for any remaining Medicare premiums owed.
Best, Jerry
Category: Medicare
Posted: Dec 18 2021 - 10:33am
Will I Have To Pay Back The Spousal Benefits Social Security Gave Me With My Benefit?
Hello,
Thanks to your help, I am in the process of petitioning Social Security to permit me to file for widows benefits at my FRA. I was born 8/57. My husband passed away 10/31/21 and he waited until he was 70 to file. I filed at 62 and I received my amount plus a small spousal benefit that they gave me automatically. Will I have to pay back the spousal benefit they gave me with my benefit if I wait until my FRA to file for my widows benefit? Thank you for all your help, Lisa
Hi Lisa. You won't have to repay any spousal benefits that you were paid for . . . Read More
Category: Spousal Benefits
Posted: Dec 17 2021 - 4:16pm
Why Is My Payment Date Changing?
Hi Larry. I usually get my check on r the 2nd Wednesday of the month. Just saw a bulletin that says it will not becoming till 4th week of the month. Why is this changing.
Hi. I don't know what type of bulletin you're referring to, but if it wasn't directed to you from Social Security then I wouldn't rely on it. The rules regarding benefit payment dates haven't changed since 1997, so the only thing that could possibly cause your payment date to move from the 2nd Wednesday to the 4th Wednesday is if you're going to be collecting benefits on a different . . . Read More
Category: Payment Dates
Posted: Dec 17 2021 - 2:48pm
How Do The Benefits For Wives Work?
If I was married the first time for 15 years and first husband is still alive, married 2nd time for 37 years and husband passed away how does benefits to wife work
Hi. I'm sorry for your loss. I'm assuming from the length of your marriages that you've already reached full retirement age (FRA). If that's the case then it sounds like you could potentially qualify for either divorced spousal benefits on your first husband's account or widow's benefits from your second husband's account. Unreduced divorced spousal benefits are calculated based on 50% of the . . . Read More
Category: Spousal Benefits
Posted: Dec 17 2021 - 1:32pm
When Will I Be Able To File And Suspend?
Hi Larry, bought a subscription to your software. Been reading your column for years. My wife is 11 years older than I and is already retired (FRA), she is now 68. She's drawing $1314/mo. I've maxed out SS for 27 years and will do so until I retire. I *thought* I could file/suspend at 62 and she would then get a nice bump with spousal benefits, but your software says I can't file/suspend until I reach FRA, which is a bummer because she will have to wait longer and will be 81. Don't get me wrong, I'll take it, but can you confirm when I will able to file/suspend? Thanks in . . . Read More
Category: File and Suspend
Posted: Dec 16 2021 - 6:05pm
Should I Apply At Age 62 So My Children Can Start Collecting Or Wait Until FRA Or Age 70?
Larry, thank you for taking my question.
I am 62, retired physician with taxable and tax deferred assets, father of 8 year old twins, spouse of 44 yo homemaker, with 50% chance of returning to work force with salary greater than 100k/year.
If I take social security at age 62 my monthly benefit is $2200, at FRA 3276, and 4100 at 70.
My two children are entitled to 1200 each till they are age 18 if start at age 62.
Should I apply for social security benefits and my children as well at age 62 or wait until FRA of 66+10 months or till 70?
Thank you . . . Read More
Category: Filing Strategies
Posted: Dec 16 2021 - 5:25pm
