Could I Switch To A Spousal Benefit Or Collect An Excess Spousal Benefit?
My husband is 73 and still working. I am 70 and still working full time. I waited to collect SS until I was 67 and my Husband waited as well. Could I switch to or collect an excess spousal benefit as well as my SS or just collect a spousal benefit?
Hi,
Assuming that you're already drawing your own Social Security benefits then you definitely couldn't elect to get just a spousal benefit instead of your own benefit. Whether or not you could receive an excess spousal benefit in addition to your own benefit depends on your and your husband's relative . . . Read More
Category: Spousal Benefits
Posted: Oct 2 2019 - 2:53pm
Would Safe Harbor Contributions Detrimentally Affect My Social Security Benefits?
Hi,
Great website with loads of useful information! I have a couple questions about "Safe Harbor" contributions that I hope you can answer. I want to determine whether or not I'm facing a potential 401(a) "horror story"....
I am 67 years old and just recently retired from a university after 30 years of service. I have already started receiving monthly payments from the university's defined benefit pension plan but haven't yet tapped into my 403(b) and 401(a) accounts that are also associated with my university employment. All of my university wages during my . . . Read More
Category: Non-Covered Pension - WEP / GPO
Posted: Oct 2 2019 - 7:26am
Will My Deceased Brother Receive A Payment For September?
My brother died on 9/28. Will he receive payment for Sept. We have already notified the bank so I know that the bank will send the money back but is he entitled to any money. He had no surviving children or spouse just brother and sister. We have some of his bills to pay. No estate or anything like that, he basically had nothing. Thank you in advance for your help and assistance.
Hi,
I'm sorry for your loss.
Unfortunately the answer is no, your brother would not be due a Social Security payment for September (i.e. the benefit that Social . . . Read More
Category: Miscellaneous
Posted: Oct 2 2019 - 7:07am
How Do I Answer The Reduced Benefits Question?
I'm filling in the SS application. I'm 65 now and will be 66 in 3 months. I don't want the SS to start until I'm 66 to take advantage at tha5t age. How do I answer the "reduced benefits" question?
Hi,
I'm not sure what question you're referring to, but if you're filing online and you want your benefits to start effective with the month you reach age 66 you can simply specify that month as your month of election to begin benefits.
Best, Jerry
Category: Filing For Benefits
Posted: Oct 2 2019 - 6:32am
How Are Excess Spousal Benefits Calculated?
Two questions about Spousal Benefit or "Top Off" w/ respect to a couple both with SS earnings. The lower earning wife retires first at age 62 (her FRA is 66), and the higher earning husband retires 2 years later (wife is now 64) at which time the wife is deemed to file for spousal benefits.
In the formula for the spousal benefit provided by Social Security, there is a reduction factor based on months prior to FRA. The question is, in the example above, do I use months prior to FRA that the wife originally retired (which is 48 months) or do I use the months prior to FRA . . . Read More
Category: Spousal Benefits
Posted: Oct 2 2019 - 6:10am
Does My Son Have To Apply For Benefits On My Record When I Apply?
my wife retired 4 years ago and our son who is autistic got SSI thru my wife Social Security. I want to retire next year and social security worker says that when I retire my sons SSI will be terminated. My income was higher than my wife so I would get more benefits. My son will get more Social Security benefit so they said they would terminate his SSI. Does he have to apply or is it voluntary
Hi,
If your son is receiving disabled adult child's (DAC) benefits on your wife's record, those are a type of Social Security benefit. Social Security . . . Read More
Category: Disabled Adult Child Benefits
Posted: Oct 1 2019 - 10:06pm
How Do I Find Out If I'm Getting My Military Benefit?
How do i find out if i am getting my Miitary benefit.<?blockquote>
Hi,
I assume that what you're referring to are deemed military wages (DMW). DMW's are extra wage credits that are added to the actual military wages paid to veterans for certain years in which they were on active duty (https://www.ssa.gov/OP_Home/handbook/handbook.09/handbook-0953.html). DMWs are then considered when calculating the worker's Social Security retirement or disability benefit rate.
You . . . Read More
Category: Deemed Military Wages
Posted: Oct 1 2019 - 5:50pm
Should I Suspend My Benefits, And Could I Then Get Spousal Benefits?
Dob 10/1952 wife dob 10/1957 She is 62 and me 67 as of october. I have been collecting for 1 year. Getting about 2800/m. She can start collecting this month and will get about 1700. My questions: can i and should i suspend my benefits until 70? and should my wife start collecting and can i get spousal benefit once she starts?
I still work and earn about 70 per hour. she is a real estate agent and the income is not necessarily stable.. We do need to extra income to clean up some stuff over thr next 2-3 years.
Hi,
Your wife can file for her . . . Read More
Category: Filing Strategies
Posted: Oct 1 2019 - 5:29pm
Would My Wife's Spousal Benefits Be Higher If She Waits Until Age 70 To Start Collecting?
I don't plan to take my Social Security until age 70. Would my wife's spousal benefits be higher if she collects at age 70 or would it be the same if she started collecting at 66.
Hi,
Spousal benefits do not get any higher if the eligible spouse waits past their full retirement age (FRA) to start drawing their benefits. If your wife qualifies for spousal benefits on your record she would not want to wait past her FRA to claim those benefits, however, she couldn't qualify for spousal benefits at least until you start drawing your benefits.
You . . . Read More
Category: Spousal Benefits
Posted: Oct 1 2019 - 5:07pm
If My Wife Takes Her Benefits At Age 62 Can I Take Spousal benefits Of 50% Of Her Full Retirement Amount?
MY WIFE WILL TURN 62 IN MAY 2020. I TURN 68 IN JULY. IF SHE TAKES HER BENEFIT AT 62 CAN I TAKE A SPOUSAL BENEFIT OF 50% OF HER BENEFIT BASED ON HER NRA OF 66 AND 8 MONTHS? I PLAN ON CONTINUING TO DEFER MINE UNTIL 70. IF SHE TAKES 12 MONTHS OF BENEFITS AND THEN DECIDES SHE MADE A MISTAKE AND REPAYS WHAT SHE TOOK WILL MY SPOUSAL BENEFIT STOP AND ONLY RESTART IF SHE ONCE AGAIN CLAIMS HER BENEFIT OR WILL MY SPOUSAL BENEFIT CONTINUE?
Hi,
Yes, since you were born prior to January 2 1954 and assuming that you haven't yet applied for your own benefits you . . . Read More
Category: Spousal Benefits
Posted: Sep 29 2019 - 8:39pm
