Ask Larry: Questions and Answers | Maximize My Social Security

Displaying 7861 - 7870 of 10063 questions.

Can I File A Restricted Application For Spousal Benefits?

My husband and I will be 66 in September 2017. He gets a teacher pension but has a small social security benefit from other work history that is offset by his teacher pension. He started taking SS benefits last year at age 65. I would like to hold off on taking my SSbenefit until age 70. Can I file a restricted application for spousal benefits? Will my benefit be based on his benefit original benefit amount before it was offset by his pension, or on his much smaller actual benefit amount?

Hi,

Yes, since you were born before January 2 1954, you can . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Jun 13 2017 - 6:45am

What Is The Effect On Social Security If You Participate In 401(a), 403(b) Or 457 Plans?

What is the impact on Social Security benefits when you work in the private sector, but then work in the public sector such that you opt out of the public employee pension system (matching contributions from state, but without a guaranteed pension benefit, that is, no pension payment, just a pot of money to invest) and participate fully in 401(a), 403(b), and 457 plans? Since there is no pension, per se, is there no reduction in SS benefits? My spouse, age 59, will get a very modest private sector pension at age 65 from a private sector non-profit, and a modest SS benefit after . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Jun 12 2017 - 7:06am

Do We Need To Do Anything To Prevent Receiving Retroactive Benefits?

Re: Retroactivity automatically applied to benefit applications filed after FRA unless claimant expressly rejects or restricts it (obtain in writing, signed & dated copy of application) - Does this automatic retroactivity apply to all who initiate retirement benefit applications ? Does the claimant have to state a basis for rejecting or restricting this automatic retroactivity ? Is there anything else to be done to insure we get our full benefit (with only Medicare premiums & tax withholdings) deducted ? thank you for your kind assistance in this matter
. . . Read More

Category: Filing For Benefits
Posted: Jun 12 2017 - 6:48am

Can We Still File And Suspend?

I have read two editions of "Get What's Yours" (Social Security) - in view of recent changes to the law, I would like to clarify the point made about being "grandfathered" if older than 62 years of age on Jan. 1, 2016. Both my husband and I were older than 62 on that date.
I will have arrived at a qualifying FRA in October 2018. Does my husband have to apply for his Social Security Retirement benefits prior to my applying for spousal benefits, or can we still file and suspend, due to being older than 62 yrs. on Jan. 1, 2016? Thanks for your help.

Hi . . . Read More

Category: New Law
Posted: Jun 12 2017 - 6:40am

Can An Adult Child Who Becomes Disabled At 40 Draw On Their Father's Social Security?

Can an adult child who becomes disabled at 40 draw her living father's ss?

Hi,

No. A person must become disabled prior to age 22 in order to potentially qualify for disabled adult child's benefits on a parent's record.

Best, Jerry

Category: Disabled Adult Child Benefits
Posted: Jun 12 2017 - 6:36am

What's The Real Deal?

My horrible situation started years ago when my now deceased husband got sick with liver disease. I / we finally won his case in federal court at age 53 we were together for 25 years married 12. I got hurt on the job 3 accidents and after the 3rd on e made them fill out a report it was the most flawed system I have ever seen I had shoulder surgery in 2010 and W/C waited until 2014 to approve my second shoulder surgery. I had a Lawyer not a very good one I must add, I was told at one point I exhaused my W/C benefits and applied for state disability on my own no word from my . . . Read More

Category: Disability Benefits
Posted: Jun 11 2017 - 10:51am

Which Husband's Record Can I Draw On?

divorced first husband in 1972 after almost 20 years. He remarried until deceased 2017. I get benefits from my second husband. Which one can I draw on?

Hi,

You say that you're receiving benefits on your 2nd husband's record, but you don't say if it's a spousal, divorced spousal or widow's benefit.

If you're currently married, you can't be eligible for benefits on your first husband's record unless you remarried after age 60. If you're not currently married, you could potentially be eligible for surviving divorced spousal benefits on your . . . Read More

Category: Divorced Spousal Benefits
Posted: Jun 11 2017 - 10:41am

Can Someone Who Reaches FRA In February 2018 File A Restricted Application For Spousal Benefits Only?

Husband is FRA as of May 2017 and wants to file and suspend. Higher earning spouse is now retired and will be FRA in February 2018. Used your software but cannot figure out if wife can file a restricted application for spousal benefits in February 2018.
Thanks

Hi,

I don't have access to the data that you entered into the software. Please submit questions about use of the software or your results via an online contact form in the help center.

I can tell you that in the scenario you describe in your question, the spouse reaching full . . . Read More

Category: Spousal Benefits
Posted: Jun 10 2017 - 9:38pm

If A Friend Gives Me Money Or A Car, Would It Affect My SSI Benefits?

I am 62 yrs old and i don't have enough work credits in for SSA?
If a friend either gives me a car or charges me $100.00 dollers.Will this effect my SSI benifits?

Hi,

If a friend gave you money, it would almost certainly count as unearned income, and it would likely reduce Supplemental Security Income (SSI) payments roughly dollar for dollar. However, SSI recipients are permitted to own one car and a home in which they live, so receiving a car from a friend as a gift may or may not affect your SSI payments depending on your other assets( . . . Read More

Category: Supplemental Security Income
Posted: Jun 10 2017 - 9:23pm

Should I File And Suspend My Benefits When I Reach Full Retirement Age?

I was born in 1956 so my full retirement age is not for 6 more years. I am in good health and would like to work until at least age 70 to increase my benefit. Should I file for my benefit once I reach full retirement age and then suspend it? How does should I do this?

Hi,

Assuming that you wish to wait until age 70 to start drawing benefits in order to allow your monthly benefit amount to grow to it's highest possible rate, you likely don't need to do anything until shortly before you turn age 70. You will accrue delayed retirement credits (DRC) . . . Read More

Category: Filing For Benefits
Posted: Jun 10 2017 - 9:09pm

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