What Month Can I Start My Retirement Benefits And Continue To Work With No Reduction In Benefits?
I am full retirement age as of June 10, DOB 6/10/1955. What month should my retirement start since I want to continue to work with no reduction in benefits.
Hi. You could claim your benefits effective with as early as August 2021 without losing any benefits due to the Social Security earnings test. Full retirement age (FRA) for people born in 1955 is 66 & 2 months.
If you start drawing your benefits effective with August, your benefit rate will be equal to 100% of your primary insurance amount (PIA). But, you could wait until as late as age 70 . . . Read More
Category: Filing Strategies
Posted: Sep 16 2021 - 12:02pm
Will I Be Able To Collect From My Ex-Wife's Record Or Will That Be Subject To The Windfall Elimination Provision?
Hi Larry, I work for a state agency and will receive a state pension when I retire, Im divorced from my ex wife Who I was married to for 12 years, I also have accrued enough social security credits (48) on my own while working in the private sector before my state job, my question is will I be able to collect on my ex wife's S/S record and will that also be subject to the Windfall Elimination Provision because of the pension I will receive and if so how much will I lose from it. Thank you so much
Hi. Divorced spousal benefits aren't subject to reduction . . . Read More
Category: Non-Covered Pension - WEP / GPO
Posted: Sep 16 2021 - 11:49am
If I Apply For Survivor Benefits Will It Lower What I Receive At Age 70?
I m 67 and and was laid off in 2020 due to covid, I have emergency savings and plan to wait until I am 70 to apply for SS. I am considering applying for my deceased spouse benefits ( I never remarried) the benefit is small, 463.00 a month but everything helps. If I take the retro on the spouse benefit, I think they said that would be around 3000 something. Will that lower my benefit when I retire at 70 ? I have heard about the danger of accepting the retro reducing your SS income but since it is my deceased spouse benefit, will that lower my benefit when I switch to my benefit . . . Read More
Category: Filing Strategies
Posted: Sep 15 2021 - 8:32pm
Can You Help Me To Understand Why I Didn't Receive The Maximum Benefit?
Hi,
I recently applied to start receiving my social security retirement benefits at age 70. Per My Social Secrity Account maintained by SSA, I earned the social security maximum taxable income in 40 of the years I worked (and paid the maximum SS taxes) yet the notice of award I received from SSA states my monthly benefit before Medicare premium deductions will be $3,798.50, not the maximum $3,895 I assumed I was qualified to receive. Can you help me understand why I did not receive the maximum benfit?
Thanks much for your help!
Hi. Simply put . . . Read More
Category: Benefit Amount
Posted: Sep 15 2021 - 8:16pm
Can I Get Social Security?
I was married for more than 10 years to a military member can I get socia security ?
Hi. The only way that you could get divorced spousal benefits from a living ex-spouse's record is if they are either collecting Social Security retirement or disability benefits, or if they are at least age 62. You would also need to be unmarried and be at least age 62 or have an eligible child in your care (https://www.ssa.gov/OP_Home/handbook/handbook.03/handbook-0311.html)..
If your . . . Read More
Category: Divorced Spousal Benefits
Posted: Sep 15 2021 - 4:20pm
Can My Wife Take Spousal Benefits When I'm 62?
Hi Larry,
My wife has been on S.S. disability for anxiety for over 20 years. She receives about $765 per month. She is 60 years old. I work full time making about $80,000 per year. I am only 50 years old. My question is, is she stuck with the $765 per month the rest of her life or can she take my spousal benefit when I'm 62?
Thank you so much for any advice.
Brandon
Hi Brandon. Your wife wouldn't be eligible for spousal benefits until you start drawing your benefits. So, the only way that your wife could qualify for spousal benefits when . . . Read More
Category: Filing Options
Posted: Sep 15 2021 - 4:00pm
Is There Anything I Can Do To Get My Medicare Premium Refund Other Than Continuing To Call Social Security?
I paid my Medicare premium in December for 5 months ( nov 2020 - march 2021) prior to retiring. I then began receiving my Social Security checks when I retired in January 2021. Medicare premiums were deducted even though I had prepaid. I was told I have an overpayment of $511.00 which will be reimbursed to me. My questions is, how long does this take? No one at Medicare or Social Security could tell me. I've been waiting since January! Is there something I can do besides keep calling them? Are they that far behind with reimbursing people?
Thanks
Hi. . . . Read More
Category: Medicare
Posted: Sep 15 2021 - 1:11pm
Can My Father Apply For Survivor Benefits Even If He May Owe Delinquent Taxes?
Hi Larry,
My question is about social security survivor benefits and delinquent tax filing, on behalf of my father.
My mother passed away several years ago. At that point my parents were already divorced (but had been married for more than 10 years). At the time I checked and my father was eligible for half her SS benefits.
However, since their divorce he has not filed US taxes independently. They had been living outside the US for all those years, and he was not aware he needed to. His financial situation was not great so I doubt he would owe anything, . . . Read More
Category: Miscellaneous
Posted: Sep 15 2021 - 12:49pm
If I Return To Work Will My Retirement Benefits Be Low Since I'll Have Fewer Than 35 Years Of Work?
Hi Larry,
First of all, thank you for taking the time to help us all with our questions and concerns. Here's my qiestion: I am disabled and get SSI, but I want to work. Say I start working at 36 years old and retire at 67 (my full retirement age), will my retirement benefits be low due to the fact that I'll have less than 35 years of work history? Thank you for your time. God bless you!
- Monique
Hi Monique. That's a complex question. First off, if you receive only Supplemental Security Income (SSI) payments then you must not be insured for . . . Read More
Category: Benefit Amount
Posted: Sep 14 2021 - 12:14pm
Does My Wife's Tier I Spousal Benefits Stop Growing At My Full Retirement Age Or Does It Keep Growing If I Claim Benefits At Age 70?
If I delay my Railroad retirement until age 70 does my spouses tier 1 benefit stop growing at my full retirement age (67) or does it keep growing until I retire at 70 ?
Hi. I'm sorry but my expertise is limited to Social Security benefits so I can't give you a definite answer. Unreduced Social Security spousal benefits are based on 50% of the worker's primary insurance amount (PIA), which is equal to the worker's full retirement age (FRA) rate. Social Security spousal benefits do not increase if the worker waits until age 70 to claim their benefits. . . . Read More
Category: Railroad Retirement Benefits
Posted: Sep 14 2021 - 11:54am
