Should I Collect Survivor Benefits Early And Continue Teaching?
Hello Larry
I became a widow at the age of 33. My husband was only 37 when he died. I am currently a teacher in the state of Ohio and my question is about STRS and survivor benefits with SSA. Should I collect the survivor benefit early and continue to teach 5 more years until I am able to collect my pension? I am assuming once my pension begins my survivor benefit will be reduced to nothing being that my husband was only 37 when he passed.
Hi,
I'm sorry for your loss.
I'm not familiar with your teacher's pension plan, but I'll assume for . . . Read More
Category: Non-Covered Pension - WEP / GPO
Posted: Jul 6 2019 - 9:58am
How Can I Appeal Social Security's Decision To Reduce My Benefits?
I am 74 years old and have been receiving Social Security since I was 65 (some 9 years), and also a Canadian Pension, because I have dual citizenship, born in the U.S. The Social Security Office contacted me by letter just yesterday saying they were reducing my U.S. Social Security by $267 monthly. That action left me with only $39 U.S. dollars this month, since they decided to reduce my $838 monthly benefit retroactively starting March 2019. They tell me that I will receive $571 on August 3, 2019, and that this same amount will be ongoing after that. They stated their reason . . . Read More
Category: Non-Covered Pension - WEP / GPO
Posted: Jul 5 2019 - 10:46am
Will The Retroactive Check I Received From My Ex's Record Negatively Impact My Own Benefit Rate At Age 70?
Hello Larry,
I turned 66 in January 2019. I submitted a restricted application in June 2019 for ex-spouse benefits (I met all the criteria like length of marriage, 2 years divorced, have not gotten remarried), and I plan to wait until 70 to collect my benefits. Although I didn't know at the time, when I applied, I had the choice of receiving a retroactive check dating back to january or beginning benefits at the filing date. Social security automatically sent me a lump sum payment dating back to January. By receiving the retroactive check, will this in any way negatively . . . Read More
Category: Filing Strategies
Posted: Jul 3 2019 - 4:24pm
Are Any Guide Books To Retirement Available?
I'm getting ready to retired and everything is confusing. Any guide books are available?
Hi,
Yes. Larry has co-written a book about Social Security benefits called 'Get What's Yours - Revised & Updated: The Secrets to Maxing Out Your Social Security' (http://www.getwhatsyours.org/updates/). And, you may want to use one of our software options (https://maximizemysocialsecurity.com/purchase) to help you with the financial planning for . . . Read More
Category: Miscellaneous
Posted: Jul 3 2019 - 10:33am
Can I Use My Deceased Mother's Last Check For Funeral Expenses?
My mother passed away the 2nd of the month she recieved the ss deposit the 2nd at night can I used that last check for her funeral expenses I have a power of attorney for her finances and medical.
Hi,
I'm sorry for your loss.
If your mother's Social Security benefit payment was scheduled for deposit on the 3rd of the month, and unless the 3rd fell on a weekend or holiday in her month of death, then the U.S. Treasury department will reclaim her payment if she died on the 2nd. However, since that Social Security benefit was payment for the . . . Read More
Category: Miscellaneous
Posted: Jul 3 2019 - 8:11am
Can My Wife Switch To A Spousal Benefit When I File On My Record?
Hi Larry, I am 66 and my wife is 68. She started taking her ss benefit at 62 on her own work record. I am now receiving a spousal benefit (restricted app) and will wait until age 70 to collect on my own record. Question - when I file at age 70 can my wife then switch to a spousal benefit on my record? Her 50% FRA benefit will be much smaller than my 50% FRA benefit. From what I have read, could she get the difference between her 50% FRA benefit and my 50% FRA benefit. Could you please explain how it all works, if at all? Thanking you in advance. Jim
Hi Jim . . . Read More
Category: Spousal Benefits
Posted: Jul 1 2019 - 2:05pm
Can I Switch Back To My Survivor Benefits When My SSDI Benefits Stop?
I started drawing survivor social security benefit on November 1, 2015, with my last day on the job being Oct 31, 2015 (I was a few month older than 60 years old). About a year later, in December of 2016 I applied for SSDI and was awarded SSDI benefits on my own SS record with the onset of my disability as also being determined as November 1, 2015 (my first payment for SSDI though was for the month of April of 2016, which is 5 months after the onset date of my disability). Social Security office recently informed me that based on CDR review they have determined that I am no . . . Read More
Category: Filing Options
Posted: Jul 1 2019 - 12:40pm
When Can A Divorced Surviving Spouse First Be Paid?
I have read your book 'Get what yours' cover to cover and thank you for your great contribution and guidance towards our understanding of how we can have a better retirement.
One question: If the divorced surviving spouse's 60th birthday falls on Sep 17 (birthday of deceased ex spouse was Nov 1), when can the divorced surviving spouse expect to see the first check for survivor's benefit assuming applied for benefits in July, 2019.
For retirement benefits, you state that you have to be 62 (or applicable age) for a full month and then one month is arrears so if . . . Read More
Category: Payment Dates
Posted: Jun 30 2019 - 4:38pm
Can I Work 36 Hours Per Week And Still Collect Widow's Benefits?
Can I work full time,36 hrs. Weekly and still collect my widow ‘s benefits? Will be 60 July ,2,2019
Hi,
I can't give you a yes or no answer because it would depend on how much you earn. I assume you work for wages, in which case you could potentially be paid widow's benefits starting at age 60 if you either earn a) less than $17,640 for the calendar year of 2019 (https://www.ssa.gov/planners/retire/whileworking.html), or b) no more than $1470 in any month from July through December . . . Read More
Category: Earnings Test
Posted: Jun 30 2019 - 4:19pm
What Options Would My Wife Have If I Die Before She Reaches FRA?
Hopefully these questions are generic enough that you can address them.
My wife is 9 years younger than I and given the longevity difference my plan has been that I need to provide for 16 years of financial support for her after my death.
To accomplish that we determined that I would wait until age 70 to collect my benefits to provide her with the maximum survivors benefit. Originally we planned on her collecting benefits on her wages at 62 then switching to her spousal benefit at her FRA.
I will be turning 70 in September and as we have reviewed the plan . . . Read More
Category: Widow's Benefits
Posted: Jun 29 2019 - 9:39am
