Ask Larry: Questions and Answers

Displaying 4771 - 4780 of 10063 questions.

How Would I Calculate My Benefits?

Hi,
My FRA is 67 yrs. I plan to retire/stop receiving earnings income at 65.However I wanted to wait until I'm 70 to start my SS benefits. How would I calculate my benefits? Currently earning $80K/yr.
Thanks,
William

Hi William,

You could try doing your own calculations following the instructions in Social Security's operations manual (https://secure.ssa.gov/apps10/poms.nsf/lnx/0300605021), but all future benefit calculations can only be approximated until shortly . . . Read More

Category: Retirement Benefits
Posted: Jul 24 2019 - 2:53pm

What Should I Do If I Believe That My Medicare Premium Rate Is Incorrect?

I think that so far I have overpaid my 2019 Medicare Premiums by approximately $ 1400. I was confused because last year my payments went up due to IRMAA.
I have not been receiving bills and cannot access concrete payment information for my account online.
What should I do?

Hi,

If you believe that your Medicare premiums have been incorrectly increased due to IRMAA, you should contact Social Security and request a new determination. You will then be asked to complete a form SSA-44 (https . . . Read More

Category: Medicare
Posted: Jul 24 2019 - 2:47pm

Is There Any Way That I Could Increase My Benefit Rate?

Larry,
I had to retire on SS Disability in 2010 at the age of 48 and unfortunately my husband had to file for disability benefits due to a car accident (brain injury) in January of 2018... Of course his benefits are significantly more than mine as he worked alot longer than I did. Is there any way at all I may be able to increase my benefit...if not now, when I reach SS age? I'm 57 in October. If so, what can I do...even with both of our small checks money is tight.
Thank you

Hi,

Your own benefit rate wouldn't increase unless you return to . . . Read More

Category: Disability Benefits
Posted: Jul 24 2019 - 10:06am

Would My Earnings Prevent Me From Collecting Survivor Benefits?

My wife died and I have one child 10 years old. I understand that the child is entitled to receive 75% benefit of my wife FRA social security due to my wife death until the child turns 18 years old (or 19 if in child in high school). I also understand that I can receive father/mother benefit while I am caring for our child who is under 16 old. I am 45 years old and work and my income is roughly 100k per year. Would receiving this income prevent me from collecting the social security benefit for caring for the child under 16 years old?

Hi,

I'm sorry . . . Read More

Category: Survivor Benefits
Posted: Jul 24 2019 - 9:53am

Can I Receive Social Security Benefits At Age 55 Due To Hardship?

can I receive social security benefits at 55 since ive fallen under hardship

Hi,

No, not unless you're disabled or you have a child in your care who's eligible for Social Security benefits.

Best, Jerry

Category: Miscellaneous
Posted: Jul 24 2019 - 9:47am

Do You Have Any Idea How This Can Happen?

Hi Larry. I just spoke to my neighbor who lost her husband approx 15 years ago. It can to my attention that she is not getting the much needed social security benefit of her deceased spouse. According to her she was denied her because she made too much money and she was a government employee. And she was denied spousal (widow) benefits of her deceased husband because he worked for the city of Detroit (Mich). I never heard of anything like this. He paid into social security for years! Is she entitled. Any idea how this can happen?

Hi,

It sounds like . . . Read More

Category: Widow's Benefits
Posted: Jul 24 2019 - 9:34am

What Are The Risks For Me And My Wife If I File For Benefits At Age 62?

I plan on applying for social security benefits at age 62( born 1961) and also apply for benefit for my son who will be 14 yrs old. Is this the best strategy rather than waiting till full retirement age of 67? What are the risks for me and for my wife who is 8 years younger? My social security benefit at age 62 is $1882.00 vs $2794 at age 67.

Hi,

The potential downside of starting your benefits early would be that you would then receive a lower monthly benefit for as long as you live, and if you die before your wife it would mean a lower potential . . . Read More

Category: Filing Strategies
Posted: Jul 24 2019 - 9:24am

Do You Have Any Advice For Us?

Hello Larry
I turned 60 in March, My wife is an Irish citizen and lived and worked there until our meeting 2010and marriage 2011. Living here since , never working here. US citizen now. We plan to retire when I turn 65 and her 62 then return to live in Ireland. I understand there’s a agreement between Ireland and US. Money will be Very tight. Irish pension is very small. So may work until 67 any advice on our plans is greatly appreciated.
Mick

Hi Mick,

What I can tell you is that if your wife receives a pension from Ireland's Social . . . Read More

Category: Filing Options
Posted: Jul 23 2019 - 6:08pm

If I Go To Work For A Non-Profit Now WIll I Be Exempt From WEP?

My question is about the exceptions listed included in the Windfall Elimination Provision information sheet found on the SocialSecurity.gov website.
it states "The Windfall Elimination Provision doesn't apply if:
"You're an employee of a non-profit organization who was first hired after December 31, 1983"

so my question is this:
i am going to apply in Dec. 2019 for SS; my full retirement age is 66 based on my birthdate in March/54;
if i quit my current job and go to work for a non-profit now, before applying for SS in December, will that be . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Jul 23 2019 - 5:44pm

Does Social Security Make These Types Of Calls?

I just received a robo call regarding my social security. The caller said that my SS benefits were suspended because of suspicious activity on my account and asked me to call back. Does SS admin make these types of phone calls?

Hi,

No, they don't. Social Security does call people on occasion for various reasons, but the call you received sounds like a scam. Just to be safe, though, you may want to call Social Security's toll free number 1-800-772-1213. That way you can report the call that you received and also verify the status of your benefits. . . . Read More

Category: Miscellaneous
Posted: Jul 22 2019 - 6:04pm
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