Will My U.K. Pension Affect My U.S. Social Security Benefits?
Hi Larry
Thank you so much for your work. It's so helpful. I love your book but am rather afraid of when it comes time to take SS because so many people have no idea what they are doing. I already (thanks to your book) saved a colleague from paying for Medicare when he already had work health insurance. He'd been paying for a year and of course will never get that money back. But at least he no longer pays for it right now. Meanwhile, I have an addendum question to Windfall Elimination Provision. My UK pension will be a STATE pension. It is not from employment and is . . . Read More
Category: Non-Covered Pension - WEP / GPO
Posted: Mar 11 2023 - 10:52am
What Does My Wife Need To Do To Collect Spousal Benefits?
i just received my first SS payment. My wife took SS at 62. What does she need to do to collect spousal?
Hi. Your wife would need to file an application with Social Security in order to claim spousal benefits. She can make an appointment to apply by calling Social Security at 800-772-1213. However, your wife will only qualify for spousal benefits if 50% of your primary insurance amount (PIA) is more than her own PIA. A person's PIA is equal to their Social Security retirement benefit rate if they start drawing their benefits at full retirement age (FRA . . . Read More
Category: Spousal Benefits
Posted: Mar 10 2023 - 3:50pm
How Will The Earnings Test Affect Me If I Get Vacation Pay?
Larry, You provide great information. I have just one hopefully easy question. I plan to retire on February 1 2024 1 month before my 65th birthday. At that time I would get a payout of 12 weeks or more vacation. I fear that my 2024 earned income would jump to almost $40,000 for the year. How does the social security "earnings test" affect me? If I just wait until March to file for SS would it solve it or should I try to get a vacation payout in 2023? I thought I saw somewhere that there is no "monthly test" in 2024.
Thank you for all the information you have provided. . . . Read More
Category: Earnings Test
Posted: Mar 9 2023 - 3:17pm
Shouldn't I Receive My Deceased Wife's Higher Benefit Amount As The Surviving Spouse?
My wife passed away in July of 2021. She had a SS benefit check of $450 a month. I'm a retired school teacher from LAUSD and have a retirement benefit from Calstrs plus a small SS benefit check of $196 a month which is based on the fact that I worked out side of teaching to earn SS credits!!!! Upon the death of my wife should I not receive a higher SS check based on her higher SS earnings as the surviving spouse????
Hi. I'm sorry for your loss. Even though you likely meet the technical requirements for widower benefits, it sounds like the Government . . . Read More
Category: Widow(er) Benefits
Posted: Mar 8 2023 - 9:54pm
If My Wife Takes Spousal Benefits Early Will The Reduction For Age Carry Over To Her Survivor Benefit?
hi Larry and Team, You folks are Awesome! Thank you.
My question: If my wife takes her spousal benefit prior to her FRA (67), does that same age carry over as the age (for benefit reduction purposes) when she takes survivor's benefit?
To that point, say my wife takes spousal benefits at 62 (and she has no SS of her own) then I die when she is 66, Is her survivor benefit based on age 62 or 66? Similarly, if I die when she is older than her FRA will her survivor's benefits be subject to any reduction due to having taken spousal benefits "early"?
I just spoke . . . Read More
Category: Survivor Benefits
Posted: Mar 8 2023 - 9:29am
How Can I Receive My Payments If I Don't Have A Bank Account?
Hello Larry,
I spoke to Social Security about a Direct Express card because I no longer have a bank account. I found no application. Is there something else as a paper check might lead to many problems as I am homeless. I can't be the only one. What would you advise? Going into the office is a problem with a knapsack. Thank you.
Hi. The instructions for applying to have your Social Security benefit payments issued via a Direct Express card can be found on the following Social Security website: https://www.ssa. . . . Read More
Category: Miscellaneous
Posted: Mar 7 2023 - 3:38pm
Will Applying For DAC Benefits Affect My Ability To Receive Medicaid?
Hi, I began receiving SSI at age 20. My father just retired, and my parents want me to look into receiving the DAC benefit as they will not be able to afford to help me pay for things any longer now that my Dad is retired. My mum will be retiring in four years, and they worry that I won't have enough money to live off of, as they've always supplemented my SSI because I cannot hold a job, but didn't qualify for SSDI.
The problem I'm running into is I'm unsure if the DAC will bounce me off of my Medicaid (MassHealth) benefits. I am severely disabled with multiple chronic . . . Read More
Category: Supplemental Security Income
Posted: Mar 7 2023 - 7:59am
When Would Be The Best Time For My Wife To Take Her SS?
I'll turn 70 in May 2023 and have recently submitted my application to take my SS at that time My FRA was 66. I worked 32 years for IBM, and 30 years as an officer in the U.S. Army & Army Reserve, plus several minimal jobs throughout my high school and college days. My SS payout will be substantially larger than my wife's, as she only worked 15 years, then stayed home after our children started arriving. She is 9 years younger than me (currently age 60), with an FRA of 67. When would be the best time for my wife to take her SS, so as to maximize her SS payout while I'm . . . Read More
Category: Filing Strategies
Posted: Mar 6 2023 - 8:29pm
Can My Wife Change From Her Own Benefits To Spousal Benefits?
WIFE AND I WERE MARRIED IN1962 WE STARTED DRAWING S/S WHEN WE WERE 62. I IN 2001 HER IN 2005 . CAN SHE CHANGE TO SPOUSAL FROM HER S/S AS IT WOULD BE AT LEASE 80 PER MO
Hi. No. Once you start drawing your own Social Security retirement benefits, those benefits continue for life. However, your wife could apply for spousal benefits to potentially be paid in addition to her own benefits, but she'll only qualify for additional spousal benefits if your primary insurance amount (PIA) is more than than twice as much as her own PIA. A person's PIA is equal to . . . Read More
Category: Filing Options
Posted: Mar 6 2023 - 8:23pm
Does The 8% Annual Increase From Delayed Retirement Credits Only Apply If I Continue Working?
Hi Larry:
On October 2022, I reached my FRA, and retired this past January 2023, I am no longer working and earning a salary.
Does the annual 8% increase on the earn delayed retirement credits, only apply if I continue working and earning a salary until I reach age 70, or is it, if I simply wait to apply for ss benefits until it I reach age of 70?
last month while talking to a ss agent to apply for Medicare, I was asked if I wanted to apply for my ss benefits, since i was not provided with information on delaying retirement credits, I said yes. Now, if I . . . Read More
Category: Delayed Retirement Credits
Posted: Mar 6 2023 - 6:39pm
