Do I Have To Report It To SSDI & SSI If I Get A Settlement?
If I get a settlement from a class action suit from a company I never worked for, do I have to report it to ssdi and ssi?
Hi. Yes, if you're getting Supplemental Security Income (SSI) then you should definitely report to Social Security if you receive a settlement payment. A settlement like you describe wouldn't affect your Social Security disability (SSDI) benefits, but it might affect your SSI eligibility or your payment amount. SSI is a needs based benefit, so just about any new income or assets you receive can potentially affect your SSI benefits. . . . Read More
Category: Miscellaneous
Posted: Mar 15 2021 - 5:08pm
Do I Qualify For My Ex-Spouse's Social Security?
I. Was married for 10 years got divorce remarried he remarried also I'm I qualify for his social security
Hi. The fact that your ex-spouse has remarried wouldn't have any adverse effect on your ability to qualify for divorced spousal benefits. However, you must be unmarried to potentially be able to qualify for divorced spousal benefits on the record of a living ex-spouse (https://www.ssa.gov/OP_Home/handbook/handbook.03/handbook-0311.html).
Therefore, if you've . . . Read More
Category: Divorced Spousal Benefits
Posted: Mar 15 2021 - 1:19pm
Do You Know If Congress Is Working To Fix The Benefit Calculation Problem For People Born In 1960?
Greetings. I was born in 1960. I was hoping federal legislation was going to address the SSI formula that was impacted by the economic downturn in 2020. Some news stories estimated people born in 1960 would get far less SSI because of the poor economy in 2020. Question do you have any knowledge of federal legislation helping those born 1960? Did legislation pass or is it pending? I was late getting into the workforce; raised autistic child. Currently the SSI website reports I will receive $930/mth, all things being equal. Do you know is that number accurate based on the 2020 . . . Read More
Category: Retirement Benefits
Posted: Mar 15 2021 - 8:15am
Am I Right That I Can Start Survivor Benefits When I Reach Age 66 And Not Be Subject To The Earnings Test?
Hi Larry,
I’m a little confused about applying for survivors benefits in my age range.
I am a widow who will be 66 on March 2022. My social security FRA is four months after that.
As a medical professional and based on the S.S. earnings test, I currently earn too much to receive either my own or survivors benefits. In 2020 or 2021.
Am I correct that I can start survivor benefits on my at 66, in March 2022 and not be subject to an earnings test because of the lower age threshold for the 100% widows benefit rate?
I could then continue to work and . . . Read More
Category: Earnings Test
Posted: Mar 14 2021 - 3:46pm
If I Stop Working Can I Collect My Late Husband's SS Even If It's Less Than My Own SS?
Larry, I'm 62, a widow, and still working. My monthly SS retirement income is now larger than my late husbands SS retirement. MY husband died young and never took his SS. 1. If I stop working, can I take my late husbands SS (even if it is less than my SS)? 2. When I turn 66.8 months (or 70), switch to my SS. 3. If I don't work and I take my husbands SS, will my SS still grow through age 70 or will it remain the same as would be when I stopped working? Thank you
Hi. You couldn't be paid your husband's actual benefits, but you could file for widow's benefits . . . Read More
Category: Filing Options
Posted: Mar 14 2021 - 3:15pm
Is There A Way For My Wife And I To Get More Because Of Our Age Difference?
My wife is taking ss at 62 $960/m and i am 80 and getting 2057/m. Is there a way to get more because of our age difference?
Hi. There's nothing specific to your and your wife's age difference that would make you eligible for higher benefits under the Social Security law. Your wife could only qualify for spousal benefits while you're living if 50% of your primary insurance amount (PIA) is higher than your wife's PIA. A person's PIA is equal to their Social Security retirement benefit rate if they start drawing their benefits at full retirement age (FRA . . . Read More
Category: Miscellaneous
Posted: Mar 14 2021 - 2:58pm
What Would Be Our Best Tax Strategy For Filing Jointly?
My wife is 12 years older than me. She turns 65 in May. She’s wanting to retire at 66 and 4 months. I’ll still be working until I’m 67. What would be our best tax strategy for filing jointly?
Hi. I assume that you're referring to strategies designed to reduce the income tax that you might owe on your wife's Social Security when she starts drawing her benefits. I'm not a tax expert, but I can tell you that using the 'married filing separately' option generally isn't a good choice with regard to Social Security income. Social Security benefits are exempt . . . Read More
Category: Filing Strategies
Posted: Mar 14 2021 - 8:32am
Will I Be Reimbursed For The Months That I Wasn't Collecting Widow's Benefits?
I’m a widow. At age 60 I started collecting widow benefits. I turned 65 this past December. I called and switched over to my own because it was more. The very next day I called back because I realized if I would wait until 66 and 2 months, I would get 220.00 more a month. So they told me I could do a withdraw by filling out a 521. I did just that. Now I just got bill in mail 3 months later to pay back all monies I got for last 3 months. I understand that. But what I can’t get a straight answer from social security is this...........When I try to go back and claim widows benefit . . . Read More
Category: Miscellaneous
Posted: Mar 13 2021 - 4:11pm
Will I Still Be Getting SSI Payments?
I'm disabled and on S.S.I.. I turned 62 on feb.22. I had an appointment with S.S. on 02/15/21 at which time I was told that I would $411.00 from my benefits and $183.00 from my ex wife's benefits whom is still living for a total $594.00 and was told that S.S.I. would make up the difference to bring the amount up to the amount I've been getting from S.S.I of $780.00 and would remain on Medicaid. I received a letter yesterday from S.S. telling me that I would be receiving a check in march for $594.00 and that this is all I'm entitled to period. No mention of S.S.I. or Medicaid. . . . Read More
Category: Supplemental Security Income
Posted: Mar 13 2021 - 3:48pm
If My Wife Starts Her Benefits Two Years Early And I Die, Will She Get Full Survivor Benefits?
II CLAIM AT 70 AND MY WIFE CLAIMS 2 YEARS EARLY. IF I DIE WILL SHE GET FULL SURVIVOUR BENIFITS
Hi. If your wife is at least full retirement age (FRA) when she claims survivor benefits, she'd be eligible for the higher of a) your full benefit rate including your delayed retirement credits, or b) her own benefit rate. That would be true even if she starts drawing her own benefits and/or spousal benefits prior to her FRA.
It sounds like you and your wife may want to strongly consider using our software ( . . . Read More
Category: Widow's Benefits
Posted: Mar 13 2021 - 11:47am
