Ask Larry: Questions and Answers

Displaying 5951 - 5960 of 10063 questions.

Do I Forfeit COLAs If I Wait Until Age 70 To Claim My Benefits?

Donald inquired as to how DRCs are applied on June 9. I read the link to POMS and confused myself.

If I wait to claim retirement benefits until age 70 do I forfeit COLAs from FRA until 70? I am receiving survivor benefits now. I have not claimed retirement benefits yet. Thanks!

Hi,

No. Whether or not you wait until age 70 to file for retirement benefits, your benefit rate will be credited with any Social Security COLAs that occur starting with the year you reach age 62. And, if you wait until age 70 to start drawing your retirement benefits . . . Read More

Category: Delayed Retirement Credits
Posted: Jun 11 2018 - 2:59pm

Can I Collect Anything From My Ex-Husband's Social Security?

i am collecting social security disability. I am 55yrs old. Can i collect anything from my exhusbands social security.

Hi,

If your ex is living, the earliest that you could potentially qualify for divorced spousal benefits is at age 62. If your ex is deceased, then you may qualify for disabled survivor benefits now if you meet all of the requirements: https://www.ssa.gov/OP_Home/handbook/handbook.04/handbook-0403.html.

Best, Jerry

Category: Divorced Spousal Benefits
Posted: Jun 11 2018 - 2:52pm

Can I Still Receive Any Benefits If I Remarried And Divorced Prior To Age 60?

My Husband died that worked for the railroad. I was told I had to wait until I was 6O to collect any benefits. But I remaried before age 60 but divorced 9 months later. Can I still receive any benefits at all

Hi,

It sounds like you probably could, but I'm not an expert on Railroad Retirement benefits so I can't say for sure. I can tell you that such a remarriage and divorce wouldn't bar potential Social Security survivor benefit eligibility, and I believe that the same applies to Railroad Retirement. You'll probably want to contact the Railroad . . . Read More

Category: Railroad Retirement Benefits
Posted: Jun 11 2018 - 9:42am

Can My Wife Get Survivor Benefits And Draw Her Own Social Security?

can my wife get survivor benefits (social security) and draw her own social security monthly payout

Hi,

Your wife couldn't be paid her own Social Security benefits and a full survivor benefit at the same time. The most she could receive is the higher of those 2 benefit rates. If the survivor rate is higher, she would be paid her own benefit rate plus a partial survivor rate equal to the difference in the 2 rates. In other words, the 2 benefits would simply add up to the higher survivor rate.

Best, Jerry

Category: Survivor Benefits
Posted: Jun 11 2018 - 9:33am

How Will Signing Up For Social Security Affect HSA Contributions?

Husband DOB 12/17/49. Retired, was primary wage earner. Filed & suspended social security @ 66 yrs old. Plans to file for social security @ 70 yrs old. Has Medicare.
Wife DOB 1/18/1953. Still working. Plans to file for spousal benefit @ 66 yrs old.
When files for spousal benefit, will she be required to enroll in Medicare? If yes, how soon would Medicare become effective. If required to enroll in Medicare, and as of January 18' 2019 (66th birthday) , have an employer sponsored HSA for 2018 & have made maximum allowed contributions by June 2018, will the 6 . . . Read More

Category: Medicare
Posted: Jun 11 2018 - 9:16am

Can I Stop My SSDI A Few Month Before FRA And Delay Collecting My Regular Benefits Until Age 70?

Hi - I am on SSDI, receiving the full FRA amount ($1170 I believe). I am 59 now and have been collecting for 5 years. I know my FRA date is around 67. Can I STOP my SSDI a few months from my full FRA, then DELAY my collection of regular benefits until age 70 in order to collect the higher deferred amount?

Hi,

You can't voluntarily stop drawing your disability benefits (SSDI) before you reach full retirement age (FRA), nor would you need to do so if your intent is to earn delayed retirement credits ( . . . Read More

Category: Disability Benefits
Posted: Jun 10 2018 - 1:43pm

How Much Can My Husband Earn Before He Is Penalized?

My husband is working and collecting SS since his 66th birthday in June,2017. How much can he earn before he is penalized?

Hi,

Since your husband has already reached his full retirement age of 66, he can draw all of his Social Security benefits regardless of how much he earns. The Social Security earnings test no longer applies once a worker reaches their full retirement age (https://www.ssa.gov/planners/retire/whileworking.html).

Best, Jerry

Category: Earnings Test
Posted: Jun 10 2018 - 1:36pm

Can I Get Both My Own Benefits And My Deceased Husband's Benefits?

i have been collecting my deceased husbands social seurity benefits for past 10 years and i received a call from I dont know who but they left me a message my benefts will be suspended i assume it was social security i never applied for my own social security and I worked many years I did not know I could get both ts this correct I am 73 years old. when i appiled for social security 10 years ago they said i could only apply for one or the other is this correct please help me find answers

Hi,

I have no idea if the call you refer to was from Social . . . Read More

Category: Miscellaneous
Posted: Jun 10 2018 - 6:59am

What Would Be The Best Strategy For Our Family?

Hi Larry,
My DOB 05/1956, My wife DOB 12/1959.
We have a 12 yo at home.

Both of us have worked our entire lives and would get benefits.
We don’t really need SS to live day to day.

What would be our best SS strategy? Both of us are retired and have pensions, 401,etc..

Hi,

One strategy that you should probably at least consider would be for you to file for early retirement benefits and have your wife and child file for auxiliary benefits on your record. However, the downside of that strategy would be that your . . . Read More

Category: Filing Strategies
Posted: Jun 9 2018 - 4:53pm

Do I Have Grounds For An Appeal?

Thank you for the help you give to the public...I suspended my monthly SS retirement ($1646.60) beginning 03/2015 and resumed beginning 06/2017; no COLA for 2015 and 0.3% for 2016. Upon resumption of benefits my adjusted monthly benefit after COLA and 22 months of suspension was computed by the SSA as $1893.70. My concern is that the method/procedure used by the SSA to arrive at this number was incorrect. According to my computations, the monthly amount should have been $1902.52. Methodology: Dec 2015 amount would have been $1646.60 because of zero COLA and in January would . . . Read More

Category: Delayed Retirement Credits
Posted: Jun 9 2018 - 12:02pm
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