Ask Larry: Questions and Answers

Displaying 2421 - 2430 of 10063 questions.

Do Disabled Adult Child Benefits Convert To Regular Retirement Benefits When The Recipient Turns 65?

I receive Disabled Adult Child benefits. At age 65, do they 'convert' to regular retirement benefits the way SSDI benefits do?

Thank you.

Hi. No. Disabled adult child's benefits are either a survivor or auxiliary benefit based on a parent's earnings history. Social Security disability (SSDI) and retirement benefits are both based on the disabled/retired worker's own earnings history, and SSDI benefits convert to Social Security retirement benefits when the recipient reaches full retirement age (FRA).

Best, Jerry

Category: Disabled Adult Child Benefits
Posted: Jun 3 2021 - 7:28am

If You Die Before Claiming Retirement Benefits, How Would Your Surviving Spouse's Benefit Rate Be Calculated?

If you die before claiming retirements, how would the survivor retirement benefit be calcuated? Assuming the surviving spouse had no other benefits and claimed at the survivors full retirement age. Would it be based on the FRA ie full retirement age , of the spouse who pre deceased? Would it be based upon the maximum benefit at age 70?

Hi. The answer to your question depends on how old the deceased worker was at the time of death. If the worker dies at full retirement age (FRA) or earlier and without having claimed benefits, the unreduced surviving spousal . . . Read More

Category: Widow(er) Benefits
Posted: Jun 2 2021 - 4:50pm

How Do The Deeming Rules Apply To Us?

I am 62; My wife is 66; Both of use plan to defer taking Social Security until we are 70. I am the higher income earner. When my wife turns 70, we planned for her to take her benefit at it's maximum. Since I am waiting until I turn 70 to start my benefit, she cannot apply for spousal benefits. What happens when I turn 70 and begin taking benefits since she will be 74. Will her benefits go up to 1/2 of mine (my FRA estimate is approx. $3000 and her's is $1000; Age 70 benefit is $ 4000 and $1300 respectively). How do the deeming rules apply in this situation?

. . . Read More

Category: Filing Options
Posted: Jun 2 2021 - 9:13am

Is There Anything I Have To Do?

Started SS part A last yr. Register Part B as I still had ins with my employment. Will be getting Part B on July 1 is there anything I have to do ?

Hi. I assume you're referring to Medicare rather than Social Security. If you already have Part A and if you've applied for Part B and you want it to start on July 1st then it sounds like you're all set as far as interacting with Social Security. Some people choose to also apply for Part D of Medicare, which covers prescription drugs, and/or other Medicare supplement plans. Part D and Medicare supplements are . . . Read More

Category: Medicare
Posted: Jun 2 2021 - 9:05am

Do You Have Any Idea Why My Benefit Amount Hasn't Been Recalculated Yet?

In March of 2018 and 2019, SSA recalculated my monthly benefit due to an increase in earnings. I had a minimal work experience, so those years increased my monthly benefit by $50 and $55/mo. respectively. My income increase for 2020 was about 3 times that of 2018 & 19, but, to date, I have not received an increase in monthly benefit. Someone told me that they review earnings in March and December, but everything I read says they review when they receive reported income for the year, in my case from my employer. Any ideas what's going on?

Hi. Most . . . Read More

Category: Recomputations
Posted: Jun 1 2021 - 4:49pm

Should My Wife Retire?

Hi Larry,
My wife is 63 and I am 55. She has a good paying factory job, but it is more difficult as the years go by. She has worked for 35+ years but only has made decent money in the past 10 years. She really wants to retire. Should she?

Hi. Deciding when to retire involves more than just Social Security considerations, so your wife will need make her own decision with regard to when to retire. It sounds like you're already aware that your wife's Social Security retirement benefit rate will be based on her highest 35 years of Social Security covered . . . Read More

Category: Miscellaneous
Posted: Jun 1 2021 - 4:31pm

Can I Collect Social Security And Unemployment Benefits In The State Of Ohio With No Penalty?

Can I collect social security at FRA and unemployment benifits in the state of ohio with out any penalty?

Hi. I don't know about Ohio's unemployment regulations, but if you're drawing unemployment benefits from any state it wouldn't have any effect on your Social Security benefits. That would still be true even if you were drawing Social Security benefits prior to full retirement age (FRA).

Best, Jerry

Category: Miscellaneous
Posted: Jun 1 2021 - 4:25pm

Who Is Responsible For Paying Back SS Taxes If Your Employer Failed To Collect The Taxes?

Hi Larry,

If a group of public employees whose positions are under a long standing 218 Agreement for Social Security coverage were improperly removed from that coverage by the employer, and it is later found by Social Security that the coverage should have continued, do the employees have to pay back their share of the SS taxes retroactively or does just the employer pay? I can't find any information on this anywhere. Thanks!

Hi. I'm sorry, but my expertise is limited to Social Security benefits. The IRS is responsible for collecting Social Security . . . Read More

Category: Miscellaneous
Posted: May 31 2021 - 8:39pm

Did Social Security Calculate My Family's Benefits Correctly?

I applied and get ss $2238 at age 62. have 2 kids 9yo and 14yo they get $1119.00 ea. wife applied for spouse benefit and I recieive notice that kids benefits are reduced to $746 and wife is $746. did they do this right?

Hi. Yes, it sounds like it. There is a family maximum benefit (FMB) limit on the amount that can be paid from any person's Social Security record. Apparently the FMB limit in your case allows up to $2238 to be paid to eligible family members each month in addition to your own benefit. If just your 2 children were drawing benefits they . . . Read More

Category: Family Benefit Maximum
Posted: May 31 2021 - 2:18pm

Will It Reduce My SS Benefit Is I Do A Phased Retirement?

I am now at my full SS retirement age, but still working. I plan to defer taking SS for two more years. I understand that if my income for those years may increase my SS benefit if they increase the 35-year average. But what if I do a phased retirement, with my last year or two at 75% salary? Those numbers may still be top-35 for my calculation. Will that reduce my SS benefit, or is the calculation "fixed" and safe from reduction once I reach my full SS retirement age?

Hi. You can't reduce your monthly benefit rate by continuing to work, be it part-time or full-time. If your . . . Read More

Category: Calculating Retirement Benefits
Posted: May 31 2021 - 2:09pm
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