Ask Larry: Questions and Answers

Displaying 8141 - 8150 of 10063 questions.

Can I Collect My Deceased Father's Social Security?

My father passed away in 1989, no one has collected his social security benefits.Am I (his only daughter)eligible to collect his benefits ?

Hi,

The only way you could qualify for benefits on your father's record is if you are unmarried and you became disabled prior to age 22 (https://www.ssa.gov/pubs/EN-05-10085.pdf).

Social Security is insurance, not an individual retirement account, and as such there is no guarantee that a person who pays Social Security taxes or anyone else will collect . . . Read More

Category: Child Benefits
Posted: Apr 27 2017 - 5:23am

Can I File For Divorced Spousal Benefits Now Without Filing On My Own Record?

I am 64 born 9/1952, divorced and never remarried and have never filed for social security benefits. My ex husband & I were married 26 years. He is 68 born 9/1949 and began collecting early SS retirement benefits at 62. I need major surgery that will keep me out of work for several months then hopefully be able to work again until age 70. I want to know if under the new Bipartisan Budget Act of 2015 I can file and collect divorced spousal benefit this year (before my FRA of 66) and delay my own benefits until age 70. Or under the new rules will I be deemed to have begun my . . . Read More

Category: Filing Strategies
Posted: Apr 26 2017 - 10:09am

Would My Wife's Widow's Rate Be Lower If She Files For Reduced Benefits On Her Own Record?

hi i am 63 my wife is 62
she worked in past and has a fra of 692
i am still working and plan to work for a while at least (god willing). my fra is 2680

if she files now she loses 25% of her fra. but if she waits to 66 to claim spousal or god forbid widows will she be negatively impacted

please advise
thanks
tom

Hi Tom,

Your wife could still potentially receive an unreduced widow's benefit on your record even if she takes her own benefits early. However, she'll be stuck with the reduced rate for as long as . . . Read More

Category: Filing Strategies
Posted: Apr 26 2017 - 9:59am

Am I Missing Anything?

Hello Larry,
I wanted to run my situation by you and see what your initial impression is.
Bill - Age 65 (9/'51) PIA $1735 retired 12/2014 - not yet filed for SS.
Pam - Age 63 (9/'53) PIA $1352 - retired 12/2013 - not yet filed for SS.
We both have moderate pensions with survivorship rights that have cola's built in totaling $3500/mo. We have been living off these plus just a small dip into savings over the last few years. We own our home F&C, and have other modest investments. I am in good health.. but my parents both passed on early (age 66). . . . Read More

Category: Filing Strategies
Posted: Apr 26 2017 - 9:50am

Will My Rate Be Higher If I Start Drawing In January?

My full retirement age is 66 and that was on Oct 30, 2016 but I was planning on starting Social Security on Oct 30, 2017 when I turn 67.

When I turned 66 and if I had started taking Social Security, my benefit amount would have been $1668 but when I checked on Jan 1, 2017, the benefit amount showed that I would have received $1707.

I remember reading somewhere (but now cannot find that article) that by waiting until January 1 before starting to take benefits, it would result in a higher payment and wanted to know if that is the case as far as you know.

. . . Read More

Category: Delayed Retirement Credits
Posted: Apr 26 2017 - 8:15am

Can Spousal Benefits Be Withheld If You Earn Too Much?

Can spousal benefits received after 62 be reduced by making too much money?

Hi,

Yes, depending on the circumstances, spousal benefits may be withheld based on the Social Security earnings test. For more detailed information, refer to the Social Security website: https://www.ssa.gov/planners/retire/whileworking2.html.

Best, Jerry

Category: Spousal Benefits
Posted: Apr 26 2017 - 8:10am

When Can My Wife Start Receiving Benefits On My Record?

My wife and I recently married. She is 67 and was (until our marriage) collecting social security based on her ex-husband's earnings. I am 66 and have not yet filed for social security. Does she have to wait one year to begin collecting based on my earnings?

Hi,

If your wife was receiving divorced spousal benefits up until the month you married, she would not need to meet the 1 year duration of marriage requirement in order to be entitled on your record (https://secure.ssa.gov/apps10/poms . . . Read More

Category: Spousal Benefits
Posted: Apr 26 2017 - 8:00am

How Would My Wife Filing Early Affect Our Benefits?

Larry: My birthdate is Dec 1951. My wife's birthdate is May 1955. I plan on working and not drawing SS until at least age 66 and hopefully age 70. My wife is planning to start receive Social Security payments based solely on her own income at age 62 (June 2017). Will my wife drawing SS early (age 62) have any impact on me receiving full SS payments later when I start drawing SS payments? Would my wife be able to draw SS based on 1/2 of my SS payment after she reaches age 66? and if I were to die first, would my wife still be able to draw full SS Survivor Benefit from my SS? . . . Read More

Category: Filing Strategies
Posted: Apr 26 2017 - 7:41am

Will My Benefit Rate Be Reduced Due To WEP?

I receive a state pension and a federal pension (FERS). I have 28 years of substantial earnings. Will my social security benefit be reduced because of the windfall elimination provision if I have 28 years instead of 30 years of substantial earnings but I was a federal worker hired in September 1987?

Hi,

If you didn't pay Social Security taxes on at least some of the earnings on which your pensions are based, then yes your Social Security retirement benefit rate may be reduced due to the windfall elimination provision (WEP). However, if you have 28 . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Apr 26 2017 - 7:30am

Will My Earnings Affect My Payments?

I am retiring from teaching school this year in may I am 63. This year I have made 37,000 dollars teaching school that is paid up until August. I have applied for social security . Will I recieve a full payment in september or will it be lower because of the 16900.20

Hi,

You can be paid your full check for any month in which you earn $1,410 or less this year regardless of the amount of your total earnings for the year (https://www.ssa.gov/planners/retire/rule.html).

Of course, . . . Read More

Category: Earnings Test
Posted: Apr 26 2017 - 7:22am
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