Ask Larry: Questions and Answers

Displaying 2671 - 2680 of 10063 questions.

Which Month Should My Wife Claim Her Benefits To Receive Her Maximum Rate?

My wife turns 70 on June 4, 2021. To receive her maximum benefits, should she claim her retirement benefits commencing June 2021 or July 2021?

Hi. June 2021. You don't need to be age 70 for the whole month to be eligible for your age 70 rate.

Best, Jerry

Category: Retirement Benefits
Posted: Mar 29 2021 - 10:04am

When My Ex-Spouse Retires Can I Go Back To Social Security And Get Half Of His SS?

Hello Larry I was married to my ex-husband for 32 yrs and I have not remarried but he has I'm 5 yrs older than him I retired at my retirement age 66 so when he retires can I go back to SS and try to get half of his Ss when he retires

Hi. I assume you mean that you're already drawing your own Social Security retirement benefits and that you started drawing your benefits at your full retirement age (FRA). In that case, for as long as your ex-spouse is still living you could only qualify for divorced spousal benefits if 50% of your ex's primary insurance . . . Read More

Category: Divorced Spousal Benefits
Posted: Mar 28 2021 - 7:46am

Would I Be Able To Get Social Security Benefits Without A Reduction?

I had worked under the Teacher Retirement System of Texas for
27 years, but was grandfathered under the Employment Retirement System (ERS) of Texas and retired with them with a combined total years of 30 years of service. The ERS does not fall under the Windfall E Provision but the Teacher Retirement did. Would I be able to get full social security benefits without have a reduced social security benefit?

Hi. It doesn't sound like it. Any pension that's based in whole or in part on a person's earnings that were exempt from Social Security taxes can . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Mar 28 2021 - 7:30am

Will My Granddaughter Get Any Benefits?

One is my granddaughter’s will be living with me her father is deceased she is 19 years will she get any benefits

Hi. If your granddaughter is age 19, then she'd probably only qualify for Social Security benefits is if she's disabled. For a child to qualify for benefits on the record of a parent or grandparent, they must be either a) under age 18, b) 18 to 19 and attending high school, or c) disabled.

Applications for survivor benefits can be retroactive for up to 6 months, so if your granddaughter was still in high school within the past 6 months . . . Read More

Category: Child Benefits
Posted: Mar 27 2021 - 12:26pm

Will Either WEP Or GPO Reduce My Divorced Spouse's Benefits If I Receive A Belgian Government Pension?

At FRA I will start drawing USA Divorced Spouse Social Security Benefits (I was married 20 years and never remarried). I am also eligible for a government pension (SS) from Belgium. Will either WEP or GPO apply and reduce my Divorced Spouse Social Security because of my Belgian govt pension? Thank you in advance.

Hi. No. The Windfall Elimination Provision (WEP) only applies to Social Security retirement and disability benefits, so it wouldn't affect your divorced spousal benefits. The Government Pension Offset (GPO) provision can apply to divorced spousal . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Mar 26 2021 - 6:15pm

Can I Get Both If I Apply For A Spousal Benefit From My Husband?

Appling for husband spouse benefit can I get both

Hi. Assuming that you're referring to getting both spousal benefits and your own benefits, the answer is that you can't get both benefits in full. People born after January 1 1954 are deemed to be filing for both their own Social Security retirement benefits and for spousal benefits when they apply for either benefit. And, they can only be paid up to essentially the higher of the two benefit rates.

However, a person who's eligible for both retirement and spousal benefits would always be paid their . . . Read More

Category: Filing Options
Posted: Mar 26 2021 - 9:20am

Is There Any Way For My Wife To Get A Back Payment For What Social Security Should Have Paid Her?

I am age 85. I have been receiving about $30,000 per year in social security for the past 20 years. My wife is age 81. She has been receiving about $7000 per year in social security for the past 16 years. I understand that she should have been receiving 50% of my annual payment based on the spouse's benefit. Is there any way that she can obtain a back payment for some or substantially all of what Social Security should have paid her? If so, what should she do?

Hi. It sounds like your wife may well qualify for spousal benefits, but it's not necessarily . . . Read More

Category: Spousal Benefits
Posted: Mar 25 2021 - 4:55pm

Will It Hurt My Husband's SS If I Draw SS Now?

I am 65 and have worked enough credit hours to draw my own SS. My benefit will be considerably less than my husband’s who plans on retiring in 5 years at 70. We have two adult children with autism on SSI still at home.
Will it hurt my husband’s SS if I draw SS now?
How will drawing my SS now effect later spousal benefit?
As we are caretakers does that effect my SS?
Thank you

Hi. Taking your own benefits now wouldn't hurt your husband's benefit, but you couldn't be paid spousal benefits at least until your husband starts drawing his . . . Read More

Category: Filing Strategies
Posted: Mar 25 2021 - 4:24pm

Why Do I Have To Wait Until July For My First Payment If I Was Born In May?

Larry, I think the answer you gave Jerry concentrated too much on his "after death payment" and didn't answer his (and my) question. My birthday is mid May so I understand I have to wait till the 3rd Wednesday in June to get my first direct deposit payment. At least that makes sense. You gotta earn a month to getta month. But why do I have to wait until the 3rd Wednesday in July to get the first payment?

Hi. I don't know which of my answers you're referring to, but if your birthday is in mid May then the only way that you'd have to wait until the 3rd . . . Read More

Category: Payment Dates
Posted: Mar 25 2021 - 1:47pm

Will My Wife Receive 50% Of My Future PIA Or My Current PIA?

I am think about taking ss this year. My wife needs to wait 15 years to get full benefits off my ss. We know she will get 50% of my PIA. Will that PIA be what we see today or will there COLA's added to it in the next 15 years?

Hi. If your wife claims for spousal benefits at her full retirement age (FRA) and if she's not eligible for higher benefits based on her own earnings history, she'll be paid 50% of your primary insurance amount (PIA) at the time she becomes entitled to benefits. That would include any cost of living increases that you've accrued up . . . Read More

Category: Spousal Benefits
Posted: Mar 25 2021 - 1:38pm
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.