Ask Larry: Questions and Answers

Displaying 621 - 630 of 10063 questions.

Why Am I Being Penalized For Working For The Railroad?

Larry, I worked for the railroad from 2006-2022. I left the railroad and working full time. I plan on working till I am 65. I look at my social security statement and it shows 0 dollars obviously for the years of railroad time, however I keep seeing that when I retire RRB reduces my tier 1 dollar for dollar of Social Security Security. With this method my Social Security doesn't take into account my years of railroad service and then I am really losing money. Instead of double dipping I am being double penalized and getting way less. How is this possible.

Hi . . . Read More

Category: Railroad Retirement & Social Security
Posted: Oct 13 2022 - 11:51am

Will The Lottery Ticket I Won Cause My Husband's SSI Disability Payments To Stop?

I won a $10000 lottery ticket. We are a married couple and my husband receives SSI(disability)? Will this stop his SSI benefits because we now have more than $3000 of resources? What if we cash the check and spend it(eating out, lottery tickets, giving it to needy people)?

Hi. Assuming that you and your husband live together, then yes. Supplemental Security Income (SSI) is needs based, and the income and resources of a spouse are counted when determining if a person qualifies for SSI payments.

You can't simply give away the money or spend . . . Read More

Category: Supplemental Security Income
Posted: Oct 13 2022 - 9:19am

Will My SSI Payments Go Down If I Apply For Food Stamps?

I receive SSI .but it hasn't been enough to help with support for me and my child .and want to apply for food stamps.but I was told from a family member with SSI .when she applied and received food stamps they cut down her .SSI amount down .I already have a high rent barely get by.but I need the food stamps .is that accurate what she stated.

Hi. No. The value of food stamps does not count as income for purposes of the Supplemental Security Income (SSI) program. If your family member's SSI payments were reduced when she started getting food stamps, the . . . Read More

Category: Supplemental Security Income
Posted: Oct 13 2022 - 9:14am

How Far Back Can My Son Be Paid Benefits From His Father's Account?

Hi, my son was eligible for auxiliary benefits (his whole life) from his father. His father and I are not on speaking terms, and I could not provide the information to get an appointment to get it set up. I finally got the information 6 years later, and have an appointment next month. I am being told by ssa that benefits would be retroactive for 12 months, whereas, others are telling me that it would be retroactive to when his father became disabled. I just want to know what to expect, and what information is correct.

Hi. My answer assumes that your son's . . . Read More

Category: Child Benefits
Posted: Oct 12 2022 - 12:39pm

Are Social Security Offices Open To The Public?

Have Social Security offices re-opened now?

Hi. My understanding is that Social Security offices have now re-opened to the public, but they are only providing a limited range of in-office services. Pandemic related rules, such as mask wearing, may vary depending on local regulations.

Most services that can be handled at the front desk are available, such as applying for a new or replacement Social Security card, and changes of address or direct deposit information. However, filing online is still the preferred method of applying for Social . . . Read More

Category: Miscellaneous
Posted: Oct 12 2022 - 6:08am

Is The Fact That I Haven't Been Able To Work Much This Year Reducing My PIA?

Hello, I turned 62 in January of 2022, my PIA amount according to my SSA statement dated August 2022, is $2240. My understanding is I will qualify for the COLA regardless if I apply for benefits or not. Thanks so much!
Questions: (1)due to health reasons, I haven't been able to work much this year, is this situation reducing my PIA?
(2) if I apply for benefits at age 64 what would be my benefit amount assuming a COLA 2023 increase of 8-9 % ?
(3) my spouse has applied for SSDI benefits and has her own 35 plus year work history, she's 60 years old now, Question . . . Read More

Category: Benefit Amount
Posted: Oct 8 2022 - 1:07pm

Should My Husband Start Taking SS This December To Get The COLA?

My husband wants to retire next year near his 68th birthday. He wonders if he should start taking SS this December to get the COLA. I read a post on your site with same question that states you get the COLA even if you don't start til next year. My question is- )we want to know for planning purposes) - how do we calculate his monthly benefit? And do we have to apply to receive the COLAs from his age 62-68 or do they automatically calculate and adjust? Is there a form you can direct us to? I can't find such a form when I look at the SSA website.
Appreciate your help. . . . Read More

Category: Filing Options
Posted: Oct 7 2022 - 8:18pm

Will I Get The Cost Of Living Increase If I Start Benefits In January 2023?

Larry, I am planning to retire in December 2022. Should I begin SS benefits in December to take advantage of the cost-of-living increase they are talking about, or will I also get the increase if I start benefits in January 2023? I was eligible for benefits (66 and 2 months) in September of 2021. I ran your software and know maximize takes place at age 70, but we will need the funds as soon as I retire. Thanks

Hi. You'll receive the upcoming Social Security cost of living (COLA) no matter when you start drawing your benefits, even if you wait until age 70 . . . Read More

Category: Cost Of Living Increases
Posted: Oct 7 2022 - 2:23pm

Will My Settlement Affect My Social Security Or Medicare In Any Way?

i am to receive a settlement from Monsanto going back to 1999-2000 when i was 50 yrs for getting lymphoma i was able to get disability at age 56 but in 2014 i turned 65 went on standard ss will this settlement affect me in any way in ss or medicare i am now 73 yrs old is the settlement taxable or not as i was injured... i live in mn

Hi. My expertise is limited to Social Security benefits, not income tax regulations. What I am able to tell you is that your settlement won't have any adverse effect on your Social Security benefits or your Medicare coverage. . . . Read More

Category: Miscellaneous
Posted: Oct 7 2022 - 1:02pm

Does Claiming Spousal Benefits Early Also Reduce Your Subsequent Widow's Benefit Rate?

Hi Larry,
I am 70 and fortunate enough to have been able to wait and claim maximum delayed retirement credit. My spouse is 63 1/2 and does not have enough credit for any personal social security benefit. One of our main goals is to ensure maximize widow benefits by making sure she waits to her full retirement age (66yr 6mo) to claim, should I die before that milestone.
The dilemma is figuring out spousal benefits. The philosophical decision is: do we want to insure longevity, in which case we wait for her full retirement age for those benefits too, or do we take . . . Read More

Category: Widow's Benefits
Posted: Oct 7 2022 - 7:42am
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