Ask Larry: Questions and Answers | Maximize My Social Security

Displaying 8971 - 8980 of 10063 questions.

Will My Divorced Spousal Benefit Be Reduced Due To The GPO Provision?

I will retire from teaching after 25 years in a system that did not take out SS. I am divorced and was married 27 years. I think I can get half of my ex-spouses benefits but I am not sure. If so, will it be reduced by the Windfall Tax or GPO? If I work the last 5 years at a job that does take out SS, will the Winfall/GPO be eliminated from my benefits?

Hi,

Yes, if you're receiving a pension from a government employer in the U.S. where your wages were exempt from Social Security taxes, any divorced spousal or widower's that you become entitled to from . . . Read More

Category: Non-Covered Pension - WEP / GPO
Posted: Dec 16 2016 - 11:30am

Can I File For Spousal Benefits On My Husband's Record At Age 66, Then Switch To My Own Record Later?

My husband is 68, filed for social security at 62 and is receiving benefits. I was born in 1951, will be 66 in May of 2017, am working and plan to work for 2 more years. Can I file for spousal benefits once I turn 66 this May and put my benefit on hold until I retire in 2 more years? What is the correct language for this process and can I do it online, and if so what is the link. My benefit will be much larger than my husbands.

Hi,

Yes, and yes. Since you were born prior to January 2 1954, you can file a restricted application for spousal benefits . . . Read More

Category: Filing Strategies
Posted: Dec 16 2016 - 11:15am

Why Can't My Mother Get Her Social Security Benefits?

Larry, I am asking for my mother, age 90, soon to be 91. She retired from a local school system with benefits from Tennessee Consolidated Retirement System. What bothers her most is all her years of paying into the Social Security and has be advised that she cannot receive that because see is under my deceased father's Railroad Retirement Benefits. Can you a clear up this matter for her and me, I suppose????

Thank you in advance;
Mary

Hi Mary,

If your mother worked and paid into Social Security long enough to be insured, she can get her . . . Read More

Category: Railroad Retirement & Social Security
Posted: Dec 16 2016 - 11:00am

Can My Ex-Husband Draw Divorced Spousal Benefits On My Record If He's Remarried?

My ex-husband (b. 12/23/52) and I (b. 2/10/52) were married for 25 years, divorced 12 years ago. He remarried at age 62.

Is he eligible to draw divorced spousal benefits on my record since he was older than 60 at remarriage?

I plan to draw on his record when I reach FRA, and delay taking my own SS till age 70. Only fair for him to do same if he qualifies.

Thanks,
Lissa

Hi Lissa,

No, your husband can't qualify for divorced spousal benefits on your record as long as he is remarried to someone else.

The exception . . . Read More

Category: Divorced Spousal Benefits
Posted: Dec 15 2016 - 12:15pm

If I Remarry, When Will I Become Eligible For Spousal Benefits?

I am currently receiving divorced spouse benefits on my ex husband's account. I do not qualify for benefits on my own SSA record. I am planning to remarry. When I do, is there a one year waiting period before I can receive benefits on my new husband's account? (He is FRA and receiving benefits) . For the one year period do I also have to pay my own Medicare premiums?

Hi,

My answer assumes that your prospective husband is receiving retirement benefits on his own record, as opposed to another type of benefit (e.g. widower). In that case, if you remarry . . . Read More

Category: Spousal Benefits
Posted: Dec 15 2016 - 11:45am

Can My Husband Take Retroactive Benefits Now And Still Be Allowed To Suspend His Benefits Later?

My husband turned 66 May 5 and didn't file for Social Security, thinking he would try to maximize his total monthly benefit by waiting. However we have had a financial crisis and he now needs to apply. If he takes the 6 months retroactive benefits (which would help us through this emergency), but then got the job he has been hoping to get hired for sometime in 2017, could he suspend his monthly benefits and start re accruing the 8% per year again? Some articles I read indicate that taking retroactive payments permanently reduces the amount of benefits, other information . . . Read More

Category: Suspending Retirement Benefits
Posted: Dec 15 2016 - 11:30am

Does The New Law Change Anything For Me?

Does Bipartisan Budget Act of 2015 apply to me? I turned 62 in February 2016, retired in March of 2016. I collect divorced spousal benefits from RR Retirement Board since April 2016, and plan to collect my SS when I turn 66 and stop collecting the RR Retirement benefit. Can I continue?

Hi,

No, the 2015 changes don't affect your plan, but assuming that you will eventually be drawing higher Social Security benefits on your own record, you might want to consider waiting until age 70 to apply. Your Social Security retirement benefit rate would be 32% . . . Read More

Category: Railroad Retirement & Social Security
Posted: Dec 15 2016 - 11:15am

Can My Wife File On Her Own Record At Age 62, Then Get Spousal Benefits When I Apply?

Can my wife start collecting SS at 62 based upon her own benefit and then later take the higher spousal benefit when I apply for SS at FRA - about 3 years later?

Hi,

Potentially, yes, but she'll keep the reduction that she took on her own account for filing early.

For example, say your wife's full retirement age benefit rate (PIA) is $800, and yours is $2000. If she files on her own record at age 62, her benefit amount would be reduced to around $600. Assuming that she was born after January 1 1954, she would then be deemed to apply for an . . . Read More

Category: Filing Strategies
Posted: Dec 14 2016 - 6:15pm

Does My Assessment Sound Correct?

My wife is 63 and I am 61. We both work and have SS benefits. She was 63 as of Jan 1st 2016 so we believe that she can still opt to take a spouse benefit at age 66 (her FRA) and delay taking her own benefit letting it grow. I will be 62 at that time and taking early SS benefits before she files. Since she is FRA I believe that she will be entitled to half of my FRA benefits even though I am taking benefits early. Does this assessment sound correct?

Hi,

Yes, all of your statements appear to be factually correct. However, you may want to consider . . . Read More

Category: Filing Strategies
Posted: Dec 14 2016 - 4:45pm

Can My Grandchild Get Benefits On My Record?

I am getting custody of my grandchild, can he receive child dependant benefits on my social security.

Hi,

The only way that a grandchild can qualify for child's benefits on a grandparent's record is if the grandparent adopts them, or if both of the grandchild's natural or adoptive parents are deceased or disabled.

Best, Jerry

Category: Child Benefits
Posted: Dec 14 2016 - 11:15am

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