Ask Larry: Questions and Answers

Hi-I am on a second round of "Get What's Yours" which I find very excellent, I am stuck on the Edith examples pgs 101 and 102. if her FRA at 66 is $1,800, it would be 25% reduced to $1,350 if claimed at 62. If she were t claim widowed benefit at 62 that would be 19% reduced at 62, from $2,000 to $1,620. Then on pg 102 you say that her $1,800 would increase to $3,168, which is true 76% increase from $1,800 at 62 to age 70. Does this mean that FRA for Edith was $2,400? Because, if she were to claim her own at 62 and that equals $1,800, it implies $2,400 at FRA. 25% reduction . . . Read More

I just turned 60 years old , my wife passed away a few months ago, am I able to collect her survivors benefit even though I got her life insurance ?

Hi. I'm sorry for your loss. The fact that you collected your wife's life insurance wouldn't have anything to do with your eligibility for widower benefits. If your wife had enough Social Security credits to be insured for benefits, then you would probably be eligible to claim reduced widower benefits. However, if you're still working, then whether or not you could actually be paid widower benefits prior to . . . Read More

My husband passed away in May of last year. My two children, myself, and his daughter from a previous marriage all collect survivor benefits. I'm wondering if his daughter's benefit will be redistributed to my kids when she ages out and graduates (this is her senior year).

Hi. I'm sorry for your loss. Yes, it sounds like the older child's benefit amount will be redistributed to you and your children when she stops collecting benefits. Surviving children and a surviving spouse with an eligible child in care can each be paid up to 75% of the deceased worker . . . Read More

My wife turns 69 in June of 2023. Her expected SS benefit sheet shows a monthly benefit at age 69 of $3,944. If she waits to age 70 the monthly benefit iwould ncreases to $4,333. Given the anticipated 8 to 10% COLA adjustment to be released in Oct 2022 for 2023 SS benefits, does it make sense for her to retire at age 69 instead of of waiting until age 70 since inflation is expected to continue with higher than past year COLA adjustments, in effect allowing her to retire earlier but getting the same monthly payment benefit as if she waited to file at age 70?

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