How Much Will My Social Security Benefit Be Reduced By WEP?
How much will my SS be reduced by WEP? My birthday is 9/29/1952. I qualified for full retirement in 2018 at age 66. I am currently still working. I have 22 qualifying years of paid ss as of 2020. For a few years I taught school and didn't pay into SS. Then I worked for a university and paid into SS. As best as I can figure, my WEP might be a reduction of $358 per month?
Hi,
I can't give you a precise amount without knowing your full yearly Social Security covered earnings history, and the amount of your non Social Security covered pension. However, . . . Read More
Category: Non-Covered Pension - WEP / GPO
Posted: Feb 19 2021 - 12:41pm
What Happens To My SSDI Benefits If I Can't Return To The U.S.?
Hi Larry
I am a green card resident of over 30 years. I travelled to UK and Spain and went into lockdown and embassies wereclosed. I tried to return but I was two weeks over a year and they wouldn't let me on the plane.
I am on SSDI and can't live without that income.
It says on SSA that you can receive benefits abroad as a permanent resident. What happens if I can't get back to my SSDI? How and when will they stop it? What options do I have to replace it if they do with retirement? I am almost 62 and so is my spouse.
Thank you
Hi, . . . Read More
Category: Miscellaneous
Posted: Feb 19 2021 - 11:25am
If I Stop Working At Age 63 But Delay Taking Benefits Until Age 67, How Is The Increase In My Rate Calculated For Those Four Years?
If I stop working at age 63 but delay taking SS benefits until age 67, how is the benefit increase calculated for that four year period?
Hi,
I'm assuming that you were born in 1960 or later, making your full retirement age (FRA) 67. If you stop working at age 63, your full retirement age rate, or primary insurance amount (PIA), won't increase or decrease after that except for cost of living increases (COLA). A person's PIA is calculated based on an average of their highest 35 years of Social Security covered wage-indexed earnings. So, if you stop . . . Read More
Category: Retirement Benefits
Posted: Feb 19 2021 - 10:52am
Should My Husband Elect To Draw His Benefits Now?
My husband is 68. He will be 69 in September. He is still working. Currently if he drew SS he would be paying WREP of $224. Should he elect to draw his social security now?
Hi,
I don't know what you mean by WREP, but if your husband is eligible for Social Security retirement benefits his benefit rate would grow by 2/3rds of 1% for each month, or 8% per year, that he doesn't collect benefits from full retirement age (FRA) until age 70. That percentage increase would apply whether your husband continues working or not, although any additional earnings . . . Read More
Category: Filing Strategies
Posted: Feb 19 2021 - 10:41am
Will I Still Get SSI For May If I Get Married On May 1st?
I am 40 years old and receive SSI. Let's say I get married on May 1. My future husband (also 40, not disabled) makes $100,000 per year so I will not be eligible for SSI. We do not currently live together, but will after marriage.
My question is, will I get SSI for May? Does it continue for a grace period, or is it revoked immediately? I will report my marriage to SSA after it occurs (within ten days, which I think is the reporting deadline for changes)
Also, what will I need to submit to SSA once I get married to show my future spouse's income? I don't want to get . . . Read More
Category: Supplemental Security Income
Posted: Feb 19 2021 - 9:57am
Why Is My Benefit Amount Reduced?
60 year old disabled widow. Deceased spouse was fully insured. SSA has approved my disability. (Claim has been going on for 2.5 years). They sent me my late spouses reduced (28.5 from my late spouses retirement monthly benefit - immediately following his death. I assumed I was waiting to hear about disability. 1.5 years later, I found my claim in my local office where the supervisor told me I was approved for disability but processing doesn’t know how to code it ???
-I NEVER RECEIVED AN OFFICIAL LETTER OF DISABILITY. MY RESEARCH IN THE SSA SITE STATES THAT DISABLED WIDOW . . . Read More
Category: Disabled Widow(er) Benefits
Posted: Feb 18 2021 - 4:07pm
Will My Husband's Pension Affect My Social Security Benefits?
I am 62 left my job in 2020 due to Covid. I did not apply for SS benefits because I thought I could get a part time job. It is now 5 months later and no on will hire me....so I was thinking about applying for my benefits this year in 2021. My husband receives a pension aprox 60,000/ yr. will that affect my benefits at all? Thank You
Hi. No, your husband's pension wouldn't have any bearing on your ability to collect your Social Security benefits.
Before filing for benefits, though, you may want to strongly consider using our software ( . . . Read More
Category: Miscellaneous
Posted: Feb 18 2021 - 3:59pm
Can I Collect Unemployment Insurance In New Jersey While Collecting SSDI Benefits?
Dear Larry and Staff: I have been receiving Unemployment Insurance since April 2020. In October 2020 I applied for Social Security Disability Insurance and was awarded same as of January 2021. I am not able to get through to Unemployment or Social Security. My question is am I able to continue collecting Unemployment Insurance while collecting SSDI in the state of New Jersey? Thank you for your time and assistsnce.
Sincerely,
Maria
Hi Maria. My expertise is limited to Social Security benefits, so all I can tell you for sure is that collecting . . . Read More
Category: Miscellaneous
Posted: Feb 18 2021 - 2:25pm
How Can I Know With Certainty That My Benefit Amount Is Correct?
I have two questions regarding Social Security that I hope you may be able to clarify:
1. How can I know with certainty that my ultimate Social Security personal benefit amount is correct, after having received an incorrect amount over the past 20 months and having been informed by the SSA on three occasions that my benefit amount was correct? My benefit is now being reviewed for final determination, but I would like to know how I can check the final amount for accuracy. (Please see below for relevant background.)
2. I waited till age 70 to take my personal benefit . . . Read More
Category: Calculating Retirement Benefits
Posted: Feb 18 2021 - 12:19pm
If My Wife Files For Her Benefits At FRA Will It Impact Her Future Spousal Benefits?
My wife will be 65 this year, while I will be 60. If she applies for Social security at 66 10m FRA for $810/mth will it impact her spousal benefits when I become 67 FRA (est $3400/mth). Will SSA automatically change/update her to spousal benefits or will she have to apply.
Hi. Filing for her own benefits at full retirement age (FRA) will not adversely affect what your wife will be able to receive when you start drawing your benefits. When a person is drawing their own benefits and later becomes eligible for spousal benefits, their unreduced spousal rate is . . . Read More
Category: Spousal Benefits
Posted: Feb 18 2021 - 12:01pm
