If I Earn Enough In The Years I Reach Age 63 And 64 Will Those Earnings Be Used When Calculating My PIA?
I've done a bunch of searching online and can't seem to find an answer to this question. I've read that you take the highest 35 years of earnings that go into the AIME number that is then applied to the bend point formula to get to your PIA at age 62. Then after age 62 the PIA is adjusted just by COLA just like other people receiving benefits. Then after the PIA is COLA adjusted you add the percent changes based of when you file for benefits (either being positive or negative changes) depending on when you claim relative to full retirement age. I've also read that if you have . . . Read More
Category: Calculating Retirement Benefits
Posted: Aug 6 2021 - 10:00am
Would Starting My Medicare Coverage And SS In December vs. January Make A Difference In My Medicare Premium Rate?
Hello. I will turn 65 in Nov 2021. I will file for Medicare and SS effective Dec as my insurance terminates Nov 30. 2021. I have a large amount of interest income in 2021. By having Medicare for one month in 2021, how does it affect the increased Medicare premiums? I know they look back 2 years. Would getting Medicare on Jan 1, 2022 make any difference when I might have pay larger Medicare premiums because of large income this year? Does SS effective date of 12/1 or 1/1/22 make any difference also? Thanks very much
Hi. Enrolling in Part B of Medicare . . . Read More
Category: Medicare
Posted: Aug 5 2021 - 4:10pm
Feedback Regarding DRCs.
Jerry - this is not a question, just some feedback:
I’ve been following your posts on DRCs for those filing between FRA and 70, so when I filed in Sept 2019 at 68 1/2 I was prepared for delays. FYI, SSA finally “caught up” in August 2021 - 23 months after filing. My full DRCs are now finally credited, with back-pay from Jan 2020 as you predicted.
My decision to claim at 68 (to enable spousal benefits) was well-informed by MMSS, and I was patient about the delays. You warned it could take up to 2 years - good call, it did! Otherwise I’d really be scratching my head . . . Read More
Category: Delayed Retirement Credits
Posted: Aug 4 2021 - 4:35pm
Can I Still Get Social Security Disability?
I have spinal stenosis arthritis osteoporosis RA arthritis slip dic and 3failed spine surgery on my spine. I have to take pain medicine for my chronic pain. I have to have a knee replacement surgery and my osteoporosis is really bad on my left side I don’t have enough work credits for SSD and I was injured at my work on 2005 and couldn’t work anymore in 2006 when I got my surgery on my spine Can I still get SSD I had Cigna for my long term disability but I was denied and I appeal it but my lawyer had quite me and left my appeal run out even though I had a good case please help . . . Read More
Category: Disability Benefits
Posted: Aug 4 2021 - 3:07pm
WIll My Benefit Rate Go Up Now That I'm 75 And Ready To Retire?
I told early ss at age 62 but kept on working part time. I’m now 75 and ready to retire from part time job which was 30 hours a week will my social security go up than you
Hi. Your benefit rate wouldn't go up as a result of your retiring, but it could potentially increase if you've earned enough recently. Social Security retirement benefits are based on an average of a person's highest 35 years of Social Security covered wage-indexed earnings, so your additional years of earnings would only increase your benefit rate if they're higher than one or more of . . . Read More
Category: Calculating Retirement Benefits
Posted: Aug 4 2021 - 11:30am
Can My Brother In Law In Mexico Apply For Benefits?
My brother in law was deported in 1997. He recently asked me if it would be possible for him to file for social social security from Mexico, now that he is age 66.
Hi. Your brother in law can certainly apply for U.S. Social Security benefits, but I don't if he'll qualify to actually be paid benefits. Social Security benefits are normally prohibited by law from being paid to someone who has been deported (https://secure.ssa.gov/apps10/poms.nsf/lnx/0302635001).
Instructions for . . . Read More
Category: Miscellaneous
Posted: Aug 4 2021 - 11:18am
Can I Ask That My Benefit Be Recalculated?
My Social security was calculated in a rush because of an injury and I was placed on SSSI. I suspect it was not calculated correctly. Can I asked that it be recalculated? How do I know it was calculated correctly
Hi. Virtually all Social Security retirement and disability (SSDI) benefits are calculated using Social Security's automated computer system. Therefore, unless there are earnings missing from your earnings history, it's extremely unlikely that your benefit rate was calculated incorrectly. However, if you believe that there are earnings missing . . . Read More
Category: Miscellaneous
Posted: Aug 4 2021 - 11:03am
How Much Will My And My Daughter's Benefit Amounts Be?
I will be collecting social security benefits at 62. My husband will be collecting social security benefits at 62. We have an adult disabled daughter, currently receiving ssdi and ssi, disabled at birth.
Our FMB is $5677
Husbands PIA is $3243
My husbands benefit will be $2283 at 62
We want to know what are benefits will be based on my husbands record.
What will my benefit be?
What will my Daughter's benefit be?
Thank you,
Lynda
Hi Lynda. I'm assuming you mean that you'll be collecting spousal benefits on your . . . Read More
Category: Family Benefit Maximum
Posted: Aug 4 2021 - 10:37am
Why Are My Estimated Benefits Going Down?
My plan is to defer SS benefits until age 70. (turning 67 in October, retired 1/31/2020)
My estimated benefits are going down. Why?
How do I freeze my earnings record? I want my estimated benefits to be based on my last 10 year "earnings".
Can I file and suspend benefits in order to freeze my earnings record?
Hi. Your estimated benefit may have gone down, but that doesn't mean that your actual benefit rate did. My guess is that your previous estimated benefit rate was based in part on expected future earnings that didn't materialize . . . Read More
Category: Calculating Retirement Benefits
Posted: Aug 3 2021 - 1:03pm
What Impact Would It Have On My Benefits If I Suspend My Benefits And Increase My Earnings?
Hi Larry,
I started taking my SS at age 62 & am now 65 1/2. I continued to work & earn the approved amount set by the SSA during this time. I would like to suspend my SS & start earning more money during this economic downturn to make ends meet. What impact does this have on my SS benefits & am I required to payback what I have withdrawn from 62 to current age or from January until I request the suspension? My current employer has offered to increase my pay. I will be 66 in January 2022.
Hi. You aren't allowed to voluntarily suspend . . . Read More
Category: Earnings Test
Posted: Aug 3 2021 - 9:48am
