Ask Larry: Questions and Answers | Maximize My Social Security

Displaying 8111 - 8120 of 10063 questions.

Am I Lowering My Benefit Amount By Waiting Until Age 70?

I plan on retiring next June when I am a month shy of age 70 and plan to switch from ex spousal benefits that I started collecting 2 years ago to my own benefits. My benefits are subject to windfall as I am. cA public school teacher. Am I actually lowering my benefits by waiting to 70? I recently read something to that effect.

Hi,

You can't lower your benefit amount by waiting until age 70 to file, but you may not gain anything if your own retirement rate after any applicable WEP (https://www.ssa. . . . Read More

Category: Filing Strategies
Posted: May 1 2017 - 9:03am

Am I Entitled To Survivor Benefits From My Ex-Husband?

My ex-husband is collecting off my social Security Benefit, he says! In our divorce I wouldn't' touch his Retirement Plan!!! Am I entitled to his Survivors Benefits?

Hi,

Well, potentially. He would have to be deceased, of course, and you would have to meet all of the other requirements for surviving divorced spousal benefits: https://www.ssa.gov/planners/survivors/ifyou3.html.

Best, Jerry

Category: Divorced Spousal Benefits
Posted: May 1 2017 - 8:01am

When Should My Wife File For Benefits?

I am 64, still working and have not yet filled for SS. My wife will be 62 in October and is considering taking her reduced benefit of approximately $680 . My question is, should she wait until I file at 66 to claim her spouse portion or should she claim her own at 62 and the change to the spouse benefit when I hit my FRA in April 2019?

Hi,

Whenever your wife files for her retirement benefits, she'll be deemed to also be filing for spousal benefits as soon as she's eligible (https://www.ssa. . . . Read More

Category: Filing Strategies
Posted: Apr 30 2017 - 6:00pm

What Income Counts In Determining If My Benefits Are Taxable?

As a couple, I know we can earn up to $32,000/yr. over our Social Security benefit. My question is does my wifes pension count towards that $32,000. She was a teacher and will collect from a PERA fund and she won't collect Social security.

Hi,

I assume what you are referring to is the income threshold for determining whether or not your Social Security benefits are taxable as income. Although I'm not an expert on tax law, my understanding is that the threshold you refer to is based on your modified adjusted gross income, which I assume would include . . . Read More

Category: Taxation Of Benefits
Posted: Apr 30 2017 - 5:49pm

Will My PERA Pension Affect My Husband's Benefits?

If I collect a state PERA pension under which I did not pay social security will my husband be able to collect hus full social security for which he worked 48 yrs?

Hi,

You can rest easy. Your PERA pension will have no effect on your husband's Social Security retirement benefits.

Best, Jerry

Category: Non-Covered Pension - WEP / GPO
Posted: Apr 30 2017 - 5:45pm

Will My Children Get More If My Wife Qualifies For Disability Benefits?

My wife is filing for SSDI and I was wondering if my daughter (who is receiving benefits along with her brother from my SSDI) could switch to her mom's account since there is currently a split of my benefits between the two. If she was to get on her mom's account, both she and my son would get more benefits. I do not know if it matters but my son lives with my ex-wife, who is his representative payee. Thoughts or comments?

Hi,

If your children qualify for benefits on both your record and your wife's record, they must both draw on the higher record. . . . Read More

Category: Disability Benefits
Posted: Apr 30 2017 - 5:36pm

When Should My Sister Claim Widow's Benefits?

My sister is 59 (as of Feb 2017). She worked as a nurse for about 12 years and then became a stay at home mom. Her husband died in January 2017. They were married for more than 25 years. He was 66 and still working at the time of his death, although on a leave of absence. He was a high wage earner, making more than the SS max for most of his career. I am reading your book "Get What's Yours: Revised Secrets to Social Security." None of the examples for widows exactly encompasses my sister's situation. Should she wait until she is FRA to claim her survivor benefit? I think this . . . Read More

Category: Widow's Benefits
Posted: Apr 30 2017 - 5:24pm

Does My Spouse Have To Be Receiving Benefits In Order For Me To Get Spousal Benefits?

I am born in April 1951 and my husband in January 1952. We are both still working full time. Should either one of us apply for spousal benefits? Does it depend who is the higher earning spouse? If I apply for spousal benefits (I am 66 and have earned less than my spouse) does my spouse have to have applied and be receiving social security benefits?

Hi,

Yes, your husband would have to be drawing his retirement benefits in order for you to get spousal benefits on his record, or vice versa.

You have several possible options, among which are: . . . Read More

Category: Spousal Benefits
Posted: Apr 30 2017 - 7:32am

Is My Mother Eligible For Widow's Benefits?

Hello. My father was a state (of Massachusetts) employee for 40 years and therefore eligible for a state pension upon retirement. My mother was an elementary school teacher for 30 years (in Mass as well), and also eligible for a pension. Both my parents retired in 1994 and began collecting their pensions. My father also had enough quarters paid into Social Security to qualify for a small monthly benefit, which he collected in addition to his pension. My father died in 2013 at the age of 87. As his surviving widow, my mother was eligible to collect 2/3 of his state pension which . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Apr 29 2017 - 10:02pm

Do I Need To Report My Earnings To Social Security?

I searched and searched online to find an answer to my only question and I came up empty handed. In my case my 9 moths Trial Work period is a done deal.
Do I have to REPORT to my Social Security Disability Office if I will never exceed to earn over $708/month BEFORE taxes? In other words, if I will stay under the allowed - limit after the Trial Work Period?
Thank you very much in advance!
Sincerely,
Robert B.

Hi Robert,

Yes, if you are drawing disability benefits, you should continue to report your earnings to Social . . . Read More

Category: Disability Benefits
Posted: Apr 29 2017 - 3:50pm

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