Ask Larry

Do I have any options?

Dear Larry,
I'm single, never married, never had dependents. I'm 66 and began collecting Social Security retirement benefits at 62. I get less than $300/mo. because I worked for county government for 13+ years and the county has its own retirement plan independent of Social Security. So I get a monthly pension from the county. Are there any options that I should know about? Thanks very much.

There are two ways that you can increase your Social Security retirement benefit.
First, you can suspend receipt of your benefit and earn a 2/3% increase for every month of suspension until age 70.
Second, you can work and increase your years of substantial earnings under Social Security. The effect of the Windfall Elimination Provision (WEP) phases out as you increase your years of substantial earnings from 20 to 30 years. Please see:


Jun 28 2016 - 4:00pm
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.
$40 Annual Household License
$250 Annual Financial Advisor License