Am I Correct That COLAs Are Applied To A Person's PIA And Not Their Actual Benefit Rate?
Good Morning Larry.
Per one of your other answers and my current understanding from using the SS ANYPIA calculator, the PIA benefit does not change within a calendar year. But if a person is collecting SS and not retired and the current year earnings are high enough to displace one of the previous 35 highest wage years, then the next calendar year the PIA will be recalculated.
In a nutshell, using 2022 as an example
If retired in Dec of 2022 with 13 months of benefit delay, the PIA (not the benefit amount) will be based on the 35 highest wage years earned . . . Read More
Category: Cost Of Living Increases
Posted: Aug 21 2022 - 3:30pm
What Can We Do About My Wife Being Denied Spousal Benefits?
I'm a 67 years old man, I already retired but continue working, I applied for my wife retirement and was denied She is a 67 years old woman, never worked, she was a homemaker
she is not a citizen yet, she is a legal immigrant do
What we could do ?
Thanks
Hi. If your wife applied for spousal benefits and if her claim was disallowed, she can file an appeal. The instructions for filing an appeal are explained in the following Social Security publication: https://www.ssa.gov/pubs/EN-05-10058 . . . Read More
Category: Spousal Benefits
Posted: Aug 20 2022 - 11:54am
Is There A Way To Check What My Own Benefit Will Be On The SS Website?
I saw that SS just updated their website. I'm currently receiving a spousal SS benefit. Is there a way to check what my own benefit will be on the SS website? Also, I don't see a way to go ahead and file to claim my benefit. Is there a way to do these things on the website or do I need to call them? Hopefully, I'm just missing something since I dread calling them.
Thank You,
Thomas
Hi Thomas. I'm familiar with Social Security's website, but I don't always keep up with the changes they make. The last I knew, if you were drawing spousal or . . . Read More
Category: Miscellaneous
Posted: Aug 20 2022 - 11:44am
Do I Need To Wait Two Years To Apply For Ex-Spouse's Benefits?
I'm 65 years old and newly divorced after 18 years of marriage. My ex is also 65, and my PIA is less than half of his. Do I need to wait two years until I'm eligible to apply for ex-spouse benefits? If I apply for benefits now, will I only receive benefits based on my own wage history? If so, then when I become eligible for the divorced spousal benefit in two years when I'm 67, will SSA automatically increase my benefit to 50% of my ex's PIA, or do I need to apply for that?
Hi. Yes, you couldn't qualify for divorced spousal benefits before your divorce has . . . Read More
Category: Divorced Spousal Benefits
Posted: Aug 19 2022 - 12:46pm
How Does The COLA Affect My Maximum SS Benefit?
How does the COLA affective my maximum SS benefit? I am past my FRA but I have not started to collect my social security, my advisor recommended I wait until
I turn 70 when I would get the largest benefit available to me. But, my question is since I am not currently collecting SS do i even benefit from the COLA? I know that your SS benefit goes up about 8’% a year every year past FRA, so will my benefit for this year calculation go up 8% plus the 2022 COLA which is rumored to be around 9%? Or is the COLA only distributed to those folks currently enrolled and collecting . . . Read More
Category: Benefit Amount
Posted: Aug 19 2022 - 11:42am
Does Your MMSS Software Cover This Scenario?
Does your MMSS software cover the following scenario? Paul and Sally are the same age and get married at age 55. Paul is a widower. When they are in their 60s, Paul and Sally decide to get a divorce, after which (1) Paul claims survivor benefits from his first wife and (2) Sally claims benefits from her own earnings. Some time later in their 60s, Paul and Sally get married again. They continue receiving their respective benefits until they turn 70, when Paul claims benefits from his own earnings and Sally claims spousal benefits.
Hi. Yes, the MMSS software . . . Read More
Category: Maximize My Social Security Software
Posted: Aug 18 2022 - 8:18pm
Is My Wife Entitled To Back Pay?
My wife and I are both 77. I started to collect SS at 66. My wife was on SS disability at around age 60 and this got converted to regular SS later on. She gets less than 50%. of my amount.
I spoke with SS today and they said she is entitled to almost $275.00 per month more to bring her to 50% of my SS and they don"t know why this wasn't done. We lost a lot of $ over the years. I am grateful for the monthly increase, but am I entitled to more for the last 11 or 12 years. Thanks
Hi. I can't give you a definite answer without access to your Social . . . Read More
Category: Miscellaneous
Posted: Aug 18 2022 - 1:09pm
Should I Be Concerned?
I received a letter for my sons and myself for a phone interview to apply for SSDI and child in care benefits. The paper said I only needed any banking information. I was surprised when we did the entire CDR I filled out a year ago, over the phone. My son has many specialists, meds, etc. and with recently transitioning from Children’s Hospital Specialists to adult care, I was totally thrown off guard struggling to name them all, with meds and addresses. It doesn’t help I had brain surgery a year ago and it affected my memory significantly. He said they will do another medical . . . Read More
Category: Disability Benefits
Posted: Aug 18 2022 - 12:16pm
Was It In My Best Interest To Apply For My Social Security Benefits At Age 62?
Good day! I appreciate your knowledge of Social Security and helpful suggestions. I will be 62 and have filed for early Soc. Sec. My determined benefit rate is $955 a month at age 62. From 2004 to the present, I have 14 years with zero earnings. Rough going after 9/11 of 2001 terrorist attack, the 2nd Great Depression of 2008 to present, and the COVID-19 pandemic. I was born in 1960, my wife was born in 1964. We have no savings, no assets, no home as we rent, no property, no IRA, no annuity, no inheritance, and no 401K plan. I receive a military pension of $1,024 per month . . . Read More
Category: Filing Strategies
Posted: Aug 18 2022 - 11:49am
If I Take Widow's Benefits Will It Impact My Own Benefit That I Intend To Take At Age 70?
If I (age 67) take a widows benefit now, which is lower than my benefit, will this impact my benefit which I had not planned to take until age 70? Thank you
Hi. No. Collecting widow's benefits prior to claiming your own Social Security retirement benefits has no adverse effect on your retirement benefit rate.
Best, Jerry
Category: Benefit Amount
Posted: Aug 17 2022 - 3:58pm
