Is What The Railroad Retirement Board Told Me Correct?
I worked for the railroad for 12 years, then worked in local government for 23 years. Since I receive a spousal benefit through railroad retirement, the local Social Security office advised I am not eligible for any payment from them. The Railroad Retirement Board says I am only eligible for an additional $100 per month. Is that right? I’m not able to collect anything I’ve paid in to Social Security?
Hi,
If you qualify and file for both Social Security benefits and Railroad Retirement (RR) benefits, the Railroad Retirement Board (RRB) will offset your . . . Read More
Category: Railroad Retirement & Social Security
Posted: Mar 2 2020 - 5:07pm
When And How Should My Wife Claim Benefits?
I am 64 and my wife is 55. My SS benefits will be significantly higher than hers because she was a stay at home mom for many years. Financially, I am able to delay claiming until I’m 70, but when and how should my wife claim?
Hi,
I can't make that decision for your wife. She could file for benefits as early as age 62, but then her benefit rate would be significantly reduced (i.e. by 30% to 35%) for as long as both of you are living. Even if your wife does start drawing at age 62, though, that would not cause her to receive a reduced survivor rate as . . . Read More
Category: Filing Strategies
Posted: Mar 2 2020 - 4:52pm
What Can I Do To Get My Late Husband's Benefits?
Good Morning, I'm really confused and upset with social security I received a letter from social security security stating that I could draw my last husband widows benefits at age 50 well I filled out all the paperwork and went to there doctor and they denied me but the reason was denied social security office filled out paperwork wrong what can I do to get my late husband benefits
Hi,
In order to qualify for survivor benefits at age 50 on the record of a past husband you'd need to be approved for disabled widow's benefits or disabled surviving . . . Read More
Category: Disabled Widow(er) Benefits
Posted: Mar 2 2020 - 4:44pm
How Many Reduction Months Will Be Applied To My Wife's Spousal Benefits?
Thank you for the response. I am afraid that my question was not clear. Some additional data may help:
I am 64 and intend to wait until I reach FRA in June 2021 to file.
My wife is 64 and plans on retiring in June 2020. Her FRA is December 2021.
We were married in January 2020.
If she files for her benefit upon retirement (17 months before FRA), the benefit based on her work record would be [PIA-Wife * (100-5/9*17)/100]. When I reach FRA she will meet the two criteria for spousal benefit (length of marriage and spouse is receiving benefit). Her . . . Read More
Category: Spousal Benefits
Posted: Mar 2 2020 - 4:33pm
Will My Benefit Rate Be Reduced If I Have Years With Zero Earnings?
I have been in ministry for over 30 years and was exempt from social security taxes. Prior to entering the ministry I worked in jobs where social security was paid and have the necessary quarter credits to qualify for benefits. . My social security statement tells me based on my earnings calculated on my prior work history my estimated benefit will be $1200. I am told that even though the estimate shows the $1200 that all of the years where I was exempt will be calculated into the formula as zero earnings and that my benefit will be reduced significantly because of that. Is . . . Read More
Category: Miscellaneous
Posted: Mar 2 2020 - 4:22pm
Will I Be Subject To Any Loss Of Benefits If I Renounce My U.S. Citizenship?
Larry, thank you for helping so many people on this subject.
My question is, I learned I m not allowed dual citizenship and I have decided to renounce US , will I be able still to get my social security benefits when I renounced and I will be 62 years next year and I have been given till end of dec 2020 to renouce by Singapore government. I do qualify n have worked 25 years here in US.
Will I be subjected to any loss in reductions for renouncing as a foreigner once I I renounce.
I thank you for your feedback as I m confused by social security office n what I . . . Read More
Category: Miscellaneous
Posted: Mar 2 2020 - 4:04pm
How Will Settling A Wage Case Affect My SSDI Benefits?
I have been on SSDI for just over2 years. A long story short my lawyer wants me to settle a wage case from 18-19. It is for 45 k. I did not try to hide income it is a long story. How will this effect my SSDI Thanks
Hi,
A settlement like that won't affect your Social Security disability (SSDI) benefits assuming that it doesn't involve work that you performed after the disability onset date established by Social Security. However, if the settlement proceeds are subject to Social Security tax withholding you'll want to be sure to report that income to . . . Read More
Category: Disability Benefits
Posted: Mar 2 2020 - 3:57pm
Does The Benefit Estimate I Get From Social Security Include COLAs?
I understand that I get credit for all of the Social Security cost of living (COLA) increases that occur after I turned age 62. When I view the my Social Security page and see the Estimated Benefits at your current age (66), does the amount include the COLA's for the last 4 years or will they be added later when I claim my benefits?
Hi,
Social Security doesn't include any future estimated cost of living increases (COLA) on their benefit estimates, but they do include any COLAs that have already gone into effect. So, if you're now age 66 the current . . . Read More
Category: Cost Of Living Increases
Posted: Mar 1 2020 - 5:02pm
When Will My Wife's Disability Benefits Convert To Social Security?
Let me begin with thank you. I (bob 7/20/1955) will be 66 and 2 months on October 2021, my FRA. And I am thinking of collecting then. My wife (Donna 8/4/60) is on full disability.
When does my wife's disability convert to social security? When can she/we begin collecting spousal benefits? My social security will be about $2,550. Donna currently receives $941. Spousal benefit should be $1,225. Ish. Much appreciated.
Bob
Hi Bob,
Your wife's Social Security disability (SSDI) benefits will convert to regular Social Security retirement . . . Read More
Category: Filing Strategies
Posted: Mar 1 2020 - 4:16pm
Is It Correct That The Reduction For Spousal Benefits Is Based On When The Spouse Becomes Eligible For Those Benefits?
In response to a question asked by Sandra you said "Eight years later, Molly's husband files for his benefits with a PIA of $2,400. Molly's spousal benefit would then be $200, or 50% of her husband's PIA minus Molly's own PIA (i.e. $2,400 / 2 – $1,000), which would be unreduced since Molly has already reached FRA when she becomes eligible for spousal benefits."
I want to confirm that the reduction for spousal benefit [i.e., (Husband PIA/2- Spouse PIA)] is based on date that the spouse becomes eligible for the spousal benefit, not when they first file for their own benefit . . . Read More
Category: Spousal Benefits
Posted: Mar 1 2020 - 10:10am
