Ask Larry: Questions and Answers | Maximize My Social Security

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Can I Collect Survivor Benefits On My Ex's Record Even If His Benefit Is Smaller Than Mine?

Can I collect survivor's divorced benefit off my ex husband even if his benefit is smaller than mine at age 66. I plan on working and would like my benefit to grow and switch to mine at age 70. I would like to work until I am 75 ....we will see.
If the above is not possible, would it be to my advantage to collect at full retirement age 66.4 ..$1654 per month or wait till I am 70 and collect $2287 per month. I most likely will break even when I am 79....I am in great health, will live long:)
Doreen

Hi Doreen,

You couldn't get benefits on . . . Read More

Category: Divorced Widow(er) Benefits
Posted: Mar 3 2018 - 2:26pm

What Should I Do About The Large Unexplained Payment I Received?

My wife of 56 yrs died on Jan 13 of this year, she received about 500 mo. from SS. I received a form from SS to file for the $255.00 death allowance, I filled it out and returned it. On march 1 $25,178.00 was put in my checking account by social security and at the same time my son who lives 350 miles from me, and is on SS disability had $4,722.00 put in his checking account, also by Social Security. We don't know what happened to bring this on, we are totally confused. I have tried to call SS and got a recording that they are busy and to call back at a later date...I don't . . . Read More

Category: Miscellaneous
Posted: Mar 3 2018 - 2:11pm

Is There A Separate Form Used To File Online For Retirement Benefits?

Good afternoon. I have the "Get what's yours" book and its very helpful. Here are my questions:
1. I turn 66 in July, 2018. I am on medicare, but planning to request benefits starting at my FRA of 7/29/2018. Talking to SSA it looks like the form for retiree benefits https://secure.ssa.gov/iClaim/rib is the same as Medicare; i.e., it does not show any "start of benefit" entries. The check boxes are all for medicare. Is there another form that SSA points to for retirement benefits only?"
2. I have been on Medicare . . . Read More

Category: Filing For Benefits
Posted: Mar 3 2018 - 9:55am

Is There Specific Wording That My Wife Should Use To Restrict Her Application?

I plan to file May 2018 at 66 and my wife when she turn 66 May 2019.

When my wife files, is there a specific language or wording that she should use to specify her desire to file a restricted application?

Thank you in advance for your response

Hi,

If your wife files online, there is a question on her application that says: "If you are eligible for both a retirement benefit and a spouse's benefit, do you want to delay receipt of retirement benefit?" Your wife would answer that question 'yes' in order to restrict her application to . . . Read More

Category: Filing For Benefits
Posted: Mar 3 2018 - 9:41am

Would WEP Affect My Wife's Survivor Benefits?

Survivor Benefits and WEP. Hi. My wife is 14 years younger and has WEP eligible retirement savings. I have always worked in jobs that pay into SS, so I have no WEP eligible retirement savings. What impact will this situation have on survivor benefits for my wife? Is there any WEP considered/calculated on her survivor benefit?

Hi,

WEP doesn't affect survivor benefits, but if the non-covered pension plan that your will be receiving is based on her work for a governmental agency (federal, state, municipal, or county), then her survivor benefits could be . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Mar 2 2018 - 5:32pm

Will WEP Affect My Benefit Rate Even Before I Start Drawing My Non-Covered Pension?

I am doing breakeven analysis re: taking Social Security at age 62. At age 65 I will begin collecting a pension that will cause my Social Security benefits to be affected by WEP (26 years substantial earnings). Will the years between age 62 - 65 be taxed by WEP, even though I am not collecting the pension yet? I thought that I read WEP begins whenever one starts taking Social Security, but the Social Security Admin. WEP Calculator does NOT reduce my benefits when I put retirement at age 62 and pension at age 65. It will only reduce benefits when both retirement and pension . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Mar 2 2018 - 5:16pm

Will My Wife's Benefits Be Affected By GPO or WEP?

My wife has a pension from a municipality from which she retired at age 56. It is a 'defined contribution' 401a and a 457. She did not contribute to SS during her employment period there. When she retired she chose the 10 year option for payment of the funds. The funds in the 457 will be exhausted when she is 60, and the 401a funds will be exhausted before she reaches age 63. Because she will not have a pension remaining when she applies for a spousal benefit at age 65, I'm thinking that the Government Pension Offset (GPO) will not apply to her spousal benefits. Similarly, the . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Mar 2 2018 - 4:52pm

Can My Wife Suspend Her Benefits And Draw Spousal Benefits When I Reach FRA?

My wife is 66 drawing SS benefits since 1995. I'm 63 born after January 1st,1954 ( I don't qualify for file and suspend) and my FRA is 66 (not sure yet if to wait till 70) and still working. When I reach my FRA can my wife suspend hers and draw spousal benefit from mine ? What strategy can I apply if any ?

Hi,

No, your wife could never suspend her own benefits and draw spousal benefits instead. She could suspend her benefits in order to receive delayed retirement credits (https://www.ssa.gov . . . Read More

Category: Filing Strategies
Posted: Mar 2 2018 - 4:37pm

Can My Husband File For Spousal Benefits When I Start Drawing My Benefits?

HI,
Thank you for this column. I am filing for social security benefits next month, at age 66. My husband is 63, and still working full time. Can he apply for a spousal benefit? It seems, from my reading of the rules, that his benefit would be eliminated by his earnings, so there would not be much point in filing. Thanks again--TW

Hi TW,

Since your husband was apparently born after January 1 1954, if he filed for spousal benefits he would also be forced to file for his own benefits at the same time. And, he would only be eligible for spousal . . . Read More

Category: Filing Options
Posted: Mar 2 2018 - 4:26pm

How Do I Go About Using Your Maximization Software?

How do I go about using your maximization software ?

Hi,

You should start by clicking on the 'Purchase' link at the top of this page. Once you complete your purchase, using the software is self-explanatory and walks you through the steps required to get your results. If you have any questions or problems while using the software, you can submit an online contact form via the help menu and one of our experts will be happy to assist you.

Best, Jerry

Category: Maximize My Social Security Software
Posted: Mar 2 2018 - 8:08am

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