Am I Filing Too Early?

Apr 14 2019 - 10:29am

I have an appt with SSA to file for benefits on April 29, 2019. I will be 70 on August 5, 2019, and don't want to my benefits to start until I am 70. Will I be filing too early if I do it on April 29?
Also I am subject to WEP so it is more complicated than most. I am going to buy your software so I am informed when I go in for my appt. If the numbers your software give me are different than the numbers they give me as to my benefit amount, how do I resolve this?
As to my WEP I have 22 years to substantial earnings thru 2018. I am still working in 2019 and will have enough earnings to have Substantial Earnings for 2019 by the time I turn 70 on august 5th. Will I get credit for 22 or 23 years based on this information. If I keep working on in to 2020 and have substantial earnings in 2020, will my benefit be adjusted upwards each year as my years of substantial earnings will increase and my WEP penalty decrease?
Sorry for all the questions, but look forward to purchasing and reviewing your software to prepare for my SS appt. Gary

Hi Gary,

No. You can file up to 4 months in advance of the month that you want to claim benefits, so you can file your application in April and claim benefits effective with August. If you turn 70 on August 5 2019, you'll want to claim benefits effective with August 2019 in order to receive your full age 70 rate. Social Security pays benefits a month behind, so your first payment should then arrive in September.

If Social Security comes up with a different benefit rate than is indicated by our software you should probably first double check to make sure that all of the data you entered into our software program is accurate. If there's still a discrepancy, you'll probably want to pursue an appeal with Social Security.

If 2019 is your 23rd year of substantial earnings for purposes of the Windfall Elimination Provision (WEP), your initial benefit rate effective with August 2019 will be computed giving you credit for 22 years of substantial earnings. However, your benefit rate could then be recomputed effective with your benefit payment for the month of January 2020 to credit your substantial earnings year in 2019. The same process would repeat itself if you have additional years of substantial earnings after 2019.

Best, Jerry