Ask Larry: Questions and Answers

Displaying 6741 - 6750 of 10063 questions.

Will I Be Able To Collect On My Ex-Husband's Record After Our Divorce?

Hi. I am 62 and on SSDI for 2 years. I am soon to be divorced and my soon to be ex husband is 66 and collects SS. His benefit is significantly more than mine. Will I be able to collect on his SS after our divorce so as to increase my monthly payment amount?

Thank you!

Hi,

You could potentially be eligible for spousal benefits even now, but only if your husband's full retirement age rate (PIA) is more than twice as much as your PIA. Your PIA would be the equivalent of your full SSDI rate. The same would apply with regard to divorced spousal . . . Read More

Category: Divorced Spousal Benefits
Posted: Jan 16 2018 - 10:01am

What Does Month Of Entitlement Refer To?

Hello and thank you so much for your prior answer about retroactive benefits for children, and can I also now ask you for a clarification about month of entitlement. You said that children cannot get benefits before my husband's month of entitlement. I am confused about month of entitlement. I just tried to look up the definition and found a POMS post about month of entitlement and month of election, but still am not sure. My husband has already filed and has already started receiving benefits recently, so his decision has been made not to take the retroactive lump sum they . . . Read More

Category: Miscellaneous
Posted: Jan 16 2018 - 9:44am

Will My Benefit Rate Still Increase Until Age 70 If I Stop Working?

Hi Larry, I just turned 66 (my FRA) and will start spouses benefits next month (Feb) on a restricted application ($947). My husband started his SS at age 62. My intention is to take my SS benefits when I turn 70 instead of my FRA because of the increased amount based on estimate per my SS statement.($1400 versus $1800+ per month). However, due to a work related injury, I have not worked for almost two years and I may not be able to work any time soon. (I may just retire instead, not sure yet.) My question is with me not working will my SS benefits still increase each year to a . . . Read More

Category: Filing Options
Posted: Jan 16 2018 - 9:32am

How Are Spousal Benefits Calculated When The Spouse Is Not Yet FRA And Took Their Own Benefits Early?

Given that the high earning person waits until FRA to claim their benefits, with a known PIA. What PIA would the low earning spouse use to subtract from this PIA to calculate their excess spousal benefit if they are not at their FRA and have taken their own benefit early? I know it would be their PIA at FRA if they were at FRA.

Example: high earning is at FRA at 66 and low earning spouse is at 64. Low earning spouse claimed their own benefit at 62, but now wants to add the excess spousal benefit on at age 64. The excess spousal benefit would be ~42% of the higher . . . Read More

Category: Spousal Benefits
Posted: Jan 15 2018 - 2:02pm

Are Child In Care Benefits Taxable?

My husband just filed at 67. We have 2 underage children who are eligible for benefits on his record and I am not yet retirement age and am eligible for the child in care benefits. I'm not sure if I should take the child in care or just let the amount go to the children up to the family maximum, and also wonder if me or my children should take the 6 month retroactive benefits. It will be over 7 years before the oldest child ages out, and until that time, the two children's benefits would reach the family maximum, so until then it would be the same amount of benefits, just a . . . Read More

Category: Taxation Of Benefits
Posted: Jan 15 2018 - 12:28pm

Can I Collect My Current Benefits And My Deceased Husband's Benefits?

My husband passed away from a service related incident. I currently receive spouse benefits. I turned 60 last year can I collect his social security and continue to collect my spouse benefits?

Hi,

I'm sorry for your loss.

I don't understand what you are describing as your current circumstances. You can't receive spousal benefits on the account of a deceased spouse, although you could qualify for reduced widow's benefits as early as age 60. You also can't receive spousal benefits on the account of a living spouse until you are at least age . . . Read More

Category: Filing Options
Posted: Jan 15 2018 - 10:47am

How Would Filing At Age 63 Affect My Spousal Benefits?

My husband is about to start collecting SS at 66 his retirement age (1952 ) But I am younger (1955) . I would like to retire too . I have mostly worked P/T as we raised our family . If I retire at 63 what effect will this have on my Spousal benefits?
Thank you.

Hi,

Since you were born after January 1 1954, whenever you file you will be deemed to be applying for both retirement benefits on your own record and spousal benefits. If you file effective with the month you reach age 63, your retirement benefits would be reduced by about 21% and your . . . Read More

Category: Spousal Benefits
Posted: Jan 15 2018 - 10:29am

How Much Can I Make On The Trial Work Period?

I am confused about how much I can make on the Trial Work Period. And I am not even sure if I am still on my TWP. I became disabled in 2005. I did not try to work until I moved around and landed where in a place where I started taking on more debt. I had to work part-time. Some months I was making good money--others not more than the TWP amount they listed for that year. But I now see on some posts that you CAN make any amount in the TWP and not lose your benefits. Could I even make up to $2000 and not lose my benefits? For several months? I was always under the impression that . . . Read More

Category: Disability Benefits
Posted: Jan 15 2018 - 9:44am

Do You Think That My WEP Reduction Is Too High?

Dear Larry,

I was born in the UK and worked there for over 30 years. I now live in the US and have worked here over 20 years and am now a US citizen.

For approximately 6 years, I have been collecting both my social security and my UK pension. Since taking my social security, it has been reduced considerably due to the Windfall Elimination Provision. My UK pension over the past 6 years has ranged from $1,050 to $778 depending on the exchange rate. My social security for the first year was reduced by $498, the second year $506 and I don't know the exact amount . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Jan 15 2018 - 6:55am

Do You Have Any Advice For Me?

I retired at 62 I was born in 1949 my income was never very much. So I chose to claim benefits on my spouse's retirement income. He is 75 im not for sure if im able to draw my own and that portion of his.any advice?

Hi,

You would need to have at least 40 quarters (i.e. 10 years) of Social Security covered work in order to be eligible for benefits on your own record. If you filed for Social Security benefits before your full retirement age and you had earned at least 40 quarters of coverage at that time, then you are already receiving at least some of . . . Read More

Category: Filing Options
Posted: Jan 14 2018 - 11:50am
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