Ask Larry: Questions and Answers

Displaying 5671 - 5680 of 10063 questions.

Will My Divorced Spousal Benefits Include The COLAs That My Ex Has Received?

My ex started drawing his S.S at 62 since then he has received several COLAS he is now 74 and his S.S. is much more than when he started to draw it. When I file for spousal bennefits will the amount I receive include the COLAS or the reduced amount only?

Hi,

If you qualify for divorced spousal benefits on your ex's record, your unreduced benefit rate would be calculated based on 50% of your ex's primary insurance amount (PIA). A person's PIA is adjusted to credit all Social Security cost of living increases (COLA) that occur after they reach age 62 . . . Read More

Category: Divorced Spousal Benefits
Posted: Aug 25 2018 - 3:06pm

Am I Eligible For A Restricted Application Where We Can Claim Spousal Benefits Now?

I have not taken my SS yet. I am 65 born in 1953, wife 64. She doesn't have 40 credits to claim her own SS. I want to delay claiming as long as I can so I can get a higher payment. Am I eligible for a restricted application where we can claim wife's spousal benefit now and claim mine in future? If this is doable, would the spousal benefit now be based on my present age? Will the spousal benefit be increased to 1/2 my benefit whatever that is, when I start my payments in future?

Hi,

No, you couldn't qualify for spousal benefits unless your wife is . . . Read More

Category: Filing Strategies
Posted: Aug 25 2018 - 11:55am

When Will My Daughter Be Paid?

I just won my SSDI claim. I have one dependent. She is entitled to 50% of my PIA. My monthly payments are scheduled for the third Wed. of each month. My question is when is my dependent paid and do I need a separate, dedicated bank account for her funds or can I have them deposited into my bank account since I am her rep. payee. Thanks--Is there a SSA link answers this question? Please post if there is.

Hi,

Your daughter will be paid on the same day of the month as you, provided that she's not also receiving Social Security benefits on another record . . . Read More

Category: Representative Payee
Posted: Aug 25 2018 - 7:50am

Can You Help Me Understand The File And Suspend Rule?

Current age: 651/2
Divorcee
Spouse: Deceased

I wanted to take advantage of the file and suspend rule:

I wanted to claim my ex-husband's benefits and freeze my benefits until a later time. However the social security agent told me that I could not do it because my spouse's amount was smaller so I could not file and suspend.

I thought that I could collect his at the lower rate until I was ready to claim mine.

Can you you help me understand.

Hi,

The most important thing for you to understand is that you DO NOT . . . Read More

Category: File and Suspend
Posted: Aug 25 2018 - 7:16am

Can I Replace My Tier 1 Railroad Benefit By Filing For A Higher Social Security Benefit?

Hi. I was eligible for late husband's railroad retirement when I turned 60 few weeks ago. I am working part time for now to keep health insurance with my employer. My question is.... There is Tier 1 (social security) and then Tier 2. If my social security benefit is more than Tier 1 can I apply for that at age 66 and replace the Tier 1 with my social security benefit?

Hi,

Yes, that can be done.

Best, Jerry

Category: Railroad Retirement & Social Security
Posted: Aug 24 2018 - 6:14pm

Do I Need To Ask SSA To Use The Annual Earnings Test Instead Of The Monthly Test?

Hi, I have a question about the Earnings Test. I will be 63 this year and plan to have my SS retirement benefits start Jan 1 2019. I also plan on working part time starting Jan 2019 and expect to have varying months of income but totally around 16,000 for 2019, probably under the 2019 annual earnings limit. Will SSA use either the monthly or annual earnings test for my first benefit/grace year. Do I have to request SSA use the annual earnings test when I first apply or do they choose? Thank you in advance for your help!

Hi,

The Social Security . . . Read More

Category: Earnings Test
Posted: Aug 24 2018 - 9:32am

Is There Any Reason It Would Be Advantageous For My Husband To File This Year Instead Of January?

My husband will turn 67 in November and i will be 66 in April of next year and might apply for spousal then. I'm wondering if he should apply for retirement benefits before the end of the year. In other words, is there any beneficial reason to file in Oct., Nov, or Dec. as opposed to Jan. 1, 2019? Maybe something having to do with DRC's or the hold harmless rule? BTW, I'm assuming we won't be held harmless anymore after we're on social security. Is this true?

Hi,

Filing for benefits effective with October, November or December 2018 instead of January . . . Read More

Category: Filing Strategies
Posted: Aug 24 2018 - 7:06am

Can You Confirm That My Daughter And I Could Draw Benefits If I File At Age 62 Regardless Of My Wife's Earnings?

Would like to clarify about child benefits for retirees. I will be 62 shortly and will have a 10 year old daughter at that point. Your book and the SocSec website seem to indicate I can collect an extra 50% since she's under 18 and I'm retired. Can I confirm that this is the case EVEN IF my wife, who would only be about age 50 at that point, will STILL be working? Thanks …

Hi,

Yes, provided that you have enough work credits to qualify for Social Security retirement benefits, you could file for your benefits at age 62. And, it certainly sounds like . . . Read More

Category: Child Benefits
Posted: Aug 23 2018 - 4:37pm

Can My Mother And Mother-In-Law Claim Past Due Benefits?

My mother and mother-in-law never drew social security until the death of their spouses. I recently read that a spouse, mail or female was entitled to their own SS, even if they never worked the entitled number of segments. My understanding is that they were both entitled to claim SS, up to 50% of the spousal amount. Cam they claim past due amounts? Thanks

Hi,

Just to clarify, your mother and mother-in-law couldn't have drawn benefits based on their own work records unless they had enough quarters of coverage to be insured ( . . . Read More

Category: Miscellaneous
Posted: Aug 23 2018 - 6:34am

How Will Returning To Work Affect My Benefits?

DOB - 12-29-49 started SSI at 63, I want to work, how will this affect my existing SSI payments? (5) years ago I exceeded my gross earnable income and had my SSI suspended, so I quit shortly after, started getting my SSI 12 months later.
I need to return to work, Divorce +++ need the income!

Thanking You in advance,

Michael

Hi Michael,

Assuming that what you are receiving are Social Security benefits and not Supplemental Security Income (SSI), then your benefits would be payable in full regardless of how much you work and earn. . . . Read More

Category: Miscellaneous
Posted: Aug 22 2018 - 4:31pm
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