Ask Larry: Questions and Answers | BAM - Maximize My Social Security

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Is My Wife Eligible To File For Spousal Benefits?

Hi Larry. I am 66 years old and started drawing a reduced Social Security benefit when I turned 62. I currently receive $1,773 per month from Social Security. My wife of 26 years will turn 62 this year and would like to file for spousal benefits on my record. We live in Utah. My wife receives a benefit of $808 per month from the Nevada Public Employees Retirement System. Would she be eligible to file for Social Security spousal benefits and if so would they be substantially reduced because of her public benefit from the State of Nevada? Thank you.

Hi,

. . . Read More

Category: Spousal Benefits
Posted: Apr 3 2020 - 9:48am

Will The Family Maximum Still Be Split Evenly If The Survivors Live In Different Households?

My son will be receiving survivor benefits on his father's record because he is under the age of 18 (but over 16). My son's step-mother and step-sister will also be receiving survivor benefits on his father's same record but in a different household. Will the Family Maximum be divided among all 3 dependents, or will my son have his own Family Maximum because he is living under a different household?

Hi,

Assuming that your son's step-mother is eligible for survivor benefits based on having a child in her care, then all 3 survivor benefits would count . . . Read More

Category: Family Benefit Maximum
Posted: Apr 2 2020 - 2:42pm

Could I Work Full Time And Still Draw A Full SSI Check?

I was wondering if I could work full time and still draw full ssi check

Hi,

If by SSI you are referring to Supplemental Security Income, then the answer's no. SSI is a needs based benefit, and your SSI payment amount would be reduced by $1 for each $2 that your monthly earnings exceed $65.

On the other hand if you receive Social Security benefits then the answer to your question depends on your age. If you're full retirement age (FRA) or older, you could still draw all of your Social Security benefits regardless of how much you earn. If you . . . Read More

Category: Earnings Test
Posted: Apr 2 2020 - 2:32pm

When Do You Think I Can Expect My First Deposit?

Hello: Info: I am 65 years old, born June 15, 1954. I applied for ss retirement benefits on March 25, 2020.
I asked during the app for a first benefit period of March 2020. I saw an approval letter dated today, April 2, 2020.

When do you think I can expect my first deposit.?

Thanks

Hi,

Since you were born in the middle 10 days of a month, your payment for March 2020 would be due on the 3rd Wednesday of April 2020. If you received your award letter today you should receive your first payment no later than that. You may receive . . . Read More

Category: Payment Dates
Posted: Apr 2 2020 - 2:21pm

How Much Am I Supposed To Receive?

My wife passed away in 2001 and just started collecting spouse benefits I am 62 and wondering how much am I supposed to receive

Hi,

I'm sorry for your loss.

If you were born in 1958 and you claimed widower benefits starting with the month you reached age 62, your benefit amount would be paid at a rate of 80.5% of your wife's primary insurance amount (PIA).

Best, Jerry

Category: Widow(er) Benefits
Posted: Apr 2 2020 - 2:14pm

How Can My Wife File For Her Own Benefits Now?

My wife wants to switch from restricted benefits from my social security to her personal one. She is 69. How do we do it? There is no way on her account to do it because she says she is receiving benefits from me yet her contributions are on there. SS office is closed and I can't get person. On the phone.

Hi,

I'm not sure if it would be possible for your wife to apply for her own Social Security retirement benefits online. Social Security's (SSA.gov) website claims that they are constantly expanding their online services, so your wife may want to try . . . Read More

Category: Filing For Benefits
Posted: Apr 2 2020 - 10:07am

Can A Remarried Widow File A Restricted Application For Spousal Benefits At Age 62 And Switch To A Higher Widow's Benefits At FRA?

Hi,
I'd like to know if a widow, who remarried after age 60, can file a restricted application at age 62 to collect a spousal benefit on her new husband's record, then switch to the higher widower benefit at full retirement age. Also, wondering if she could alternatively restrict application to her own record at age 62 and later switch to widower benefit. Thanks!

Hi,

A widow such as the one you describe could file for spousal benefits at age 62 and restrict widow's benefits from the scope of her application, but she couldn't restrict her own . . . Read More

Category: Filing Options
Posted: Apr 2 2020 - 9:49am

Is There Any Way I Can Collect A Portion Of My Deceased Husband's Social Security?

My husband died last year and he was much older than me (20 years). I'm only 52 years old, have not worked in years, cannot find a job at this time (I have no skills and am uneducated), and cannot pay my utilities. I have no car. My water has been turned off and the Electric Company is threatening to shut me off next week. My neighbor is writing this for me as I have no computer. Despite my age, is there a way I can collect a portion of his Social Security?

Hi,

I'm sorry for your loss.

The only way that you could potentially qualify for . . . Read More

Category: Widow's Benefits
Posted: Apr 1 2020 - 5:12pm

How Will SSA Calculate The WEP Guarantee If You Become Eligible For A New Non-Covered Pension?

The Windfall Elimination Provision (WEP) guarantee is based on 50% of the amount (in U.S. dollars) of your non-covered pension in your first month of concurrent entitlement to the non-covered pension and Social Security benefits. How will SSA calculate a new pension amount, to subtract 50% of the amount of non-covered pension or introduce some adjustments to this amount like COLA or others.
Thank you

Hi,

As you state, the Windfall Elimination Provision (WEP) guarantee amount is calculated based on 50% of the amount of your non-covered pension in . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Apr 1 2020 - 2:56pm

How Should My Social Security And Railroad Retirement Benefits Be Reported For Income Tax Purposes?

My spouse is a retired railroad employee. I receive half of his pension. Now that I am 71, I signed up for my social security benefit on 02/12/2019. It was then I was advised payments would be retroactive for 6 months beginning with my birthday month. I also learned the RR Board needed the amount and each subsequent month certified and would be included on the RR benefit. Since this was retroactive and all RR benefits had been received for 2019, the RR would be paid back for what they paid. I received a W2 from both Social Security Administration and the railroad. Social . . . Read More

Category: Railroad Retirement & Social Security
Posted: Apr 1 2020 - 2:33pm

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