Ask Larry: Questions and Answers

Displaying 3211 - 3220 of 10063 questions.

Will I Be Able To Collect Social Security?

I receive a state of Illinois pension (SURS) and am eligible for federal pension July 2021 when I turn 62. How is my social security? I have 14 credible years with SSN.

Hi,

If you have at least 40 calendar quarters (QC) of Social Security credits, you'll be eligible for Social Security retirement benefits as early as age 62. However, if you're also receiving a pension based on your work and earnings that weren't subject to Social Security taxes, your Social Security retirement benefit rate will almost certainly be reduced due to the Windfall . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Sep 11 2020 - 10:10am

Is The Social Security Deposit I Received Related To My Ex-Husband's Death?

My ex husband passed away recently. I received a social security deposit . I am not sure the deposit is related to his death. Please reply.

Thank you

Hi,

I can't give you a definite answer based on the limited information in your question. Social Security wouldn't automatically pay you anything because of your ex-spouse's death unless you were already drawing benefits on his account when he died. If you have been drawing divorced spousal benefits, though, then the deposit you received is likely the result of the fact that divorced survivor . . . Read More

Category: Divorced Widow(er) Benefits
Posted: Sep 10 2020 - 8:07am

Will I Receive A Lower Benefit Rate Due To WEP?

I am 8 months away from being able to claim my British Pension but have to pay to fill a few gap years which amounts to $2,500. I am currently claiming Social Security from the United States having worked here for nearly 40 years.
I am trying to confirm that my SSI won't be reduced because of my British pension. I have the WEP substantial wages chart and find that I did not earn the amount needed for a few of those years BUT did earn quite a bit more in some of the other years then was required. I do have about 92 credits paid into SSI which is a lot more than the 40 . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Sep 9 2020 - 1:16pm

How Do I Switch To Drawing My Own Benefits?

I currently receive a spousal benefit. I filed a restricted application successfully a couple of years ago. When I turn 70, I intend to switch over to a benefit based upon my own record. My question is how to do this? When I examine the social security website, I see no entry point which allows me to do this. When I view my account it will not give me any estimation of my benefit since I am already receiving a spousal benefit. If I begin a new application process will the social security system recognize this and prevent me from completing a new application online? Any help you . . . Read More

Category: Filing For Benefits
Posted: Sep 9 2020 - 11:57am

Can A Person Collecting Disabled Adult Child's Benefits Have A Life Insurance Policy?

Can a Disabled Adult Child collecting SS have a life insurance policy in their name. And does SSA need to be notified?

Hi,

The answer to your first question is yes, and the answer to your second question is no. Social Security disabled adult child (DAC) benefits are not a needs based benefit, so it doesn't matter what type of assets a person receiving DAC benefits owns. Therefore, Social Security wouldn't need to know if a person drawing DAC benefits has a life insurance policy.

Best, Jerry

Category: Disability Benefits
Posted: Sep 9 2020 - 9:49am

Does The Payment That My Partner Received In The Month Of Her Death Need To Be Returned To Social Security?

my partner received her ssd check on the 3rd of the month she died on the 31st of tje same month does that check need to be returned to the ss office

Hi,

I'm sorry for your loss. Assuming that the check was cashed prior to your partner's death or if it was paid electronically, that payment would not need to be returned to Social Security.

Social Security payments are not due for the month of a person's death, but Social Security pays regular monthly benefits a month behind. For example, a Social Security benefit paid on August 3rd would be . . . Read More

Category: Eligibility For Benefits
Posted: Sep 9 2020 - 8:22am

Can You Help Me?

I submitted a form to move back my benefits start date to sept of 19. I did not keep a copy unfortunately. The local office said it was submitted and out of their hands. the payment is supposed to come out of Kansas city, correct? so I called them and they really couldn't give me a good answer. the person I talked with said it may get paid in sept of 20. can you help me?

Hi,

It doesn't sound like there's much that you can probably do at this point. If you've asked to change your month of entitlement (MOE) to benefits after your initial claim was . . . Read More

Category: Miscellaneous
Posted: Sep 7 2020 - 2:14pm

Can I Have My SSDI Benefits Changed Over To Early Retirement Benefits At Age 62?

Larry, I started receiving SSDI at age 59, I am now 62. Can I take early retirement and have my SSDI changed over to early retirement instead of waiting the full retirement age of 66+ years as the amount I now received will not changed when I reach the age of 66 and 2 months.

Hi,

You could, but you'd probably end up with a lower benefit rate by doing so. When you qualify for Social Security disability (SSDI) benefits, your benefit rate is calculated at 100% of your primary insurance amount (PIA). A person's PIA is equal to their Social Security . . . Read More

Category: Disability Benefits
Posted: Sep 7 2020 - 9:36am

Will My Benefits Be Reduced If I Have An Ex-Wife Who Can Collect Benefits On My Account?

I'm 11 years older than my ex. We were divorced approximately 20 years ago, and I've made most of my social security wages since the divorce. I believe we barely made the 10 years of marriage but its close. I am now 70 and have waited to apply for my benefits so they will be higher -- approx $3300 a month. She will not turn 62 for 3 or 4 years, and also has her own Social Security earnings although less than mine and she underreports her income anyway. 1. Do I get my $3300 a month until she turns 62? Or do my benefits get reduced immediately even before / if she makes a claim? . . . Read More

Category: Divorced Spousal Benefits
Posted: Sep 7 2020 - 9:26am

Can My Wife Start Collecting Her Benefits At Age 65 And Then Change To Drawing Spousal Benefits At FRA?

Hello Larry,
My wife and I are both age 62.5. Our FRA is 66.5.
I plan to start collecting Social Security at age 65 (with some reduced benefits from FRA). If my wife also starts collecting Social Security at age 65, can she then change to claim my higher Spousal benefits at her FRA (66.5)? Would the formula be based on my earlier locked in reduced benefits or at the rate I would have received if I had waited till FRA myself? Thank you for your answer. I am just in a planning stage now, but I think your program would be a good value for me to purchase shortly.

. . . Read More
Category: Filing Options
Posted: Sep 6 2020 - 4:55pm
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