Should I File The Form SSA-131 That Social Security Sent To Me?
Form SSA 131.
I retired in 2019 at age of 70 1/2 and was paid the unused vacation hours. I have been receiving social security and filed for Medicare B. Since the B premium is based on the level of income, I planned on asking Social Security to adjust the unused vacation pay in 2021.
I asked the employer to provide me letter of this extra income. They sent me form SSA 131. Should I file it with SSA? Would it affect my SSA pay?
Hi,
The Social Security employee who sent you form SSA-131 either made a mistake or doesn't know what they're . . . Read More
Category: Medicare
Posted: Jan 14 2020 - 3:48pm
Is My Best Strategy To File For My Own Benefits Now And Allow My Widow's Rate To Grow To 100% Or Greater?
Larry,
I was widowed at 48 when my husband was 53 in 2006. I turned 62 in late November. I am waiting to claim my Survivor's Benefits until FRA or age 70. But, I have my own, much smaller work earnings record. I didn't realize I could "switch". Is my best option to claim benefits on my own work record now allowing my husband's to grow to 100% or greater, then switch to his at that time? I thought I had to choose my benefits or his, thus did not do anything in November when I turned 62. Have I now missed out on December 2019, January 2020 and perhaps February 2020 . . . Read More
Category: Filing Strategies
Posted: Jan 14 2020 - 3:31pm
Would It Be Worth It To File For My Own Benefits At Age 62 And Later Change To Drawing On My Ex's Record?
My ex husband is 5 years younger than me. I will be 62 this year. His income is extremely high and mine was lower as I stayed home with my children or worked part time as they were growing up. Is it worth taking mine at 62 and then can I change to his at a later point when he gets to be tetirement age. Im pretty sure 1/2 of his benefit will be higher than mine. Im just not sure when to take either. My health has not been great so Im ythinoing taking mine at 62 would be a better option for me but meed to know how or when I can claim spousal benefits.
Hi, . . . Read More
Category: Filing Strategies
Posted: Jan 14 2020 - 7:57am
What Will I Lose If I Apply To Collect My Own SS Benefits?
My husband died in April 2008. I started to collect my widow benefit in October of 2009 at age 60 and 10 months. I am now 71 years old and still have my own social security benefits I have not collected. What will I lose if anything if I apply to collect my SS benefits
Hi,
I'm sorry for your loss.
If you file for your own benefits those benefits will offset your widow's benefits dollar for dollar. However, if your own Social Security retirement benefit rate would be higher than your widow's rate you would want to file for your own benefits . . . Read More
Category: Filing Options
Posted: Jan 14 2020 - 7:25am
Is It Possible To Retroactively Change Your Filing Status To A Different Type Of Benefit?
Larry,
Have a husband who wanted to file and suspend his benefit and the wife to file for a spousal benefit. the only problem was they didn't qualify and tried to do it after the cutoff of April 30th, 2016. The wife has been receiving spousal benefits since March of 2018. The SSA originally approved the application and it wasn't until October of 2019 that they realized the error and are now requesting the benefits be paid back. My question is, is it possible to retroactively have the wife refile or change her filing status to her own benefit and then have the husband . . . Read More
Category: Miscellaneous
Posted: Jan 13 2020 - 3:40pm
Is It True That I'll Be Able To Draw More Of My Husband's Social Security When I Reach Age 62?
I lost my husband June 2019. I’m 61 now and would like to retire in the next 2 to 3 years. When I’m 62 can I draw more of my husbands social security. Now I. Make to much and have only RECIEVED one check of his social security. I made 34000.00 this year. I’ve herd when you are 62 you can draw more
Hi,
I'm sorry for your loss.
If you file for widow's benefits before age 62, which it sounds like you've done, your benefit rate can be adjusted effective at age 62 to credit you for months prior to age 62 that you weren't paid benefits due to your . . . Read More
Category: Widow(er) Benefits
Posted: Jan 13 2020 - 1:09pm
Can My Wife Who Was Born In 1959 Collect Benefits On My Record Now?
My birthday is 08 03 1953 and starting collecting social security benefits on June 2018 my wife birthday 04 11 1959 still working can she collect off my social security benifits now
Hi,
No, unless your wife has a child in her care who is eligible for benefits on your record and who is either under age 16 or disabled. Otherwise, your wife would have to be at least age 62 to potentially qualify for spousal benefits.
Assuming that your wife doesn't have an eligible child in care, she couldn't file for spousal benefits without also filing for . . . Read More
Category: Spousal Benefits
Posted: Jan 12 2020 - 5:42pm
If I Earn $12,000 In 2 Or 3 Months This Year Will I Be Penalized?
I plan to retire at 60 and collect SS widows benefits. I may want to work very part time. I understand the 2020 earnings limit is $18,240/yr which comes to $1,520/mo. If I earn only $12,000 but earn it in 2 or 3 months (vs. $1,000/mo spread over the full year) will I be penalized? In other words is there a "monthly limit" of what I can earn or is there only an annual limit?
Thank you!
Hi,
No. As long as your earnings for the calendar year of 2020 are below $18,240 you won't lose any of your benefits because of Social Security's earnings test. . . . Read More
Category: Earnings Test
Posted: Jan 11 2020 - 3:22pm
If I Was Born On January 1st, Is My First Social Security Check For The Month Of December Or January?
If I am born January 1st, is my first social security check for the month of December or January?
Hi,
Social Security counts you as reaching your next age on the day prior to your birthday. So, if age 66 is your full retirement age (FRA) and you were born on January 1 1954, for example, Social Security would consider you to reach FRA in December 2019. If you then claimed benefits effective with December 2019, your benefit rate would be unreduced but your first payment would not be due until January 2020 because Social Security pays benefits a month . . . Read More
Category: Miscellaneous
Posted: Jan 10 2020 - 5:28pm
Is It True That My Mom Will Only Get My Dad's Age 66 Rate Even Though He Claimed His SS Benefits At Age 70?
My Dad recently passed away. He had claimed his SS benefits at age 70. My mom was told that her spousal benefits would NOT be the exact amount that he was receiving ... instead, she would only receive the smaller amount that he would have gotten if he had claimed earlier at full retirement age (66). Is this correct??
Hi,
I'm sorry for your loss.
No. Assuming that your mother is at least full retirement age (FRA), she should receive the higher of a) her own benefit amount, or b) your father's benefit rate inclusive of the delayed retirement . . . Read More
Category: Widow's Benefits
Posted: Jan 10 2020 - 5:21pm
