Can My Wife And I Still Earn Social Security Credits?
Hello,
I live most of my professional career in Israel. I worked in the US for 5 years. Currently I have only 20 Social Security credits. My wife as well. We both over 67 years old. We are filing every year Tax Report. We pay all the taxes in Israel , so we dont have any tax return or Tax payments in the US.
My questions:
1. Currently we both are offered to have a job in the US and we can start paying SS and earn credits. Can we do it at our age 67 and I am 69??
2. Can I pay retroactive to SS - For how far back and how can I do it?
Thank you for . . . Read More
Category: Miscellaneous
Posted: Feb 23 2020 - 5:52pm
Am I Missing Something When Calculating How My Wife's Benefits Will Be Affected By WEP And GPO?
I'm having difficulty calculating my wife's SS benefit at her FRA. I will be 70 this April and will begin my SS benefit at $3581/mo. Wife has 10 years significant earnings and her FRA benefit is estimated on her SS statement will be $827/mo. However she has 16yrs teaching and will have a monthly pension of $1807/mo. We plan for her to claim spousal benefit on my claim. But when I calculate the GPO and WEP reductions, her benefit is less than $0. It seems that the combo of GPO and WEP eliminates her SS benefit whether she claims spousal or not. Am I missing something?
. . . Read More
Category: Non-Covered Pension - WEP / GPO
Posted: Feb 23 2020 - 8:42am
What's Going On?
I received $6974 from Social Security in March of 2019. Then when I received my tax form they had taken out almost $5000 in box 4. I haven't worked in years, so I don't understand why this happened. I didn't receive a letter for the amount I received in March, nor did I receive a letter about the money taken out. I called the local office and he had absolutely no idea about what was going on. I researched my SS online and there is no information about either issue. What's going on?
Hi,
Sorry, but I have no idea. If you received a single Social . . . Read More
Category: Miscellaneous
Posted: Feb 23 2020 - 8:15am
How Much Of A Timeline Do I Have To Suspend My Benefits?
Hi Larry, I've been receiving SSDI for a decade & was just converted to Reg. benefits at my FRA of 66 in 12/2019. I'm an RN who often worked limited hours while disabled - as per SSA guidelines. I'm considering suspending benefits until 70 only if there's any hope for improvement per the reasoning in my next paragraph....otherwise, it's not worth it for me. How much of a timeline do I have to suspend benefits and reimburse the SSA after turning 66 two mos ago? I've read conflicting reports of 6 mos, 12 mos, etc. ... but here's the bigger problem:
My monthly PIA is . . . Read More
Category: Delayed Retirement Credits
Posted: Feb 22 2020 - 6:24pm
Does The Amount Taken Out Of My Paycheck For SS Affect My SS Check?
I began receiving SS and Medicare at 65. I am 71 and still work part time. Does the amount taken out of my paycheck for SS affect my SS check? Would my check increase? What happens to the amount taken out? Am I credited for that
Hi,
You receive credit for any earnings on which you pay Social Security taxes, but the earnings won't cause your benefit rate to change unless you earn more in a year than you did in one of your previous highest 35 years of wage-indexed earnings. Social Security retirement benefits are based on an average of a person's . . . Read More
Category: Retirement Benefits
Posted: Feb 22 2020 - 6:08pm
When Will I Begin To Draw Social Security Instead Of Disability?
I am 59 and just began drawing disability social security. At what age will I begin drawing just social security. Do I have to notify anyone or will it just convert to straight social security ?
Hi,
Social Security disability benefits convert to regular Social Security retirement benefits when a person reaches their full retirement age (FRA). In your case, that would be at age 67. You won't need to do anything to initiate the conversion, and the conversion won't cause your benefit rate to change.
Best, Jerry
Category: Disability Benefits
Posted: Feb 22 2020 - 6:00pm
Is There A Simple Way To Figure Pension Offset?
Larry,
Is there a simple way to figure pension offset when it comes to receiving social security benefits? My first career provided a pension and I fell under a social security exemption. Since then, I’ve successfully continued a second career in which I’ve met my social security quarters but I’m curious how much my estimated benefits will be reduced? Social securities site is difficult to understand in regards to this question. Thank you! Jim
Hi Jim,
Yes, the simplest way would be to use our software ( . . . Read More
Category: Non-Covered Pension - WEP / GPO
Posted: Feb 22 2020 - 12:04pm
What Can I Do If My Tax Return Was Garnished Even Though My Overpayment Was Waived?
Hello since I was 18 I’ve been getting letters of overpayment from child support I kept ignoring because I know I’ve never received last year I finally went into local office filed waiver explaining to them this happened when I was a child and I’m not accountable my waiver was GRANTED a year later my tax refund has been garnished by social security what do I do now?
Hi,
Based on your description of events, about the only thing you can do is contact Social Security and ask them to refund the amount that was garnished. If they refuse to do so in a . . . Read More
Category: Social Security Overpayments
Posted: Feb 22 2020 - 8:25am
Would Replacing My Two Lowest Salary Years With Higher Salary Years Increase My Monthly Benefit?
Hi Larry. I know a person's SSA benefit is calculated based upon one's highest 35 years of earnings (NOT adjusted for inflation). I plan to start taking my payments at age 70 but will continue to work full time through age 72 (health permitting). Presumably those extra two years of salary will be equal or greater than my current one, which is at the top of the value pyramid. Would replacing my two lowest-salary years (apx. $16K each) with the highest-salary ones (apx. $88K) increase my monthly benefit, or is it simply frozen at the point where I begin to collect? I would still . . . Read More
Category: Retirement Benefits
Posted: Feb 22 2020 - 7:47am
How Does Totalization Affect Me?
Hi Larry,
I was born in the UK and worked there (for a US airline) since the 90's and paid into the UK system. I got married and became a US resident and for the last 4 years have been paying FICA (I'm now 51). I'm eligible for pension in the UK and will be eligible for pension in the US by the time I am of retirement age. How does totalization affect me? Can I use the years of paying into the UK system and add them to my SSA benefits? OR do I collect pension from both countries? Very confusing... Any help would be appreciated!!
Hi,
Assuming . . . Read More
Category: Foreign Pensions
Posted: Feb 21 2020 - 5:01pm
