Larry, i can not get the answer to the question I'm asking from social security. I've tried 3 times and always get the stock answer. They are not reading the question. My question: I am currently 65. i still work, making about 70k a year. I also know at my full retirement age, my working income no longer matters reference my benefit. i realize if i claim now, i would receive nothing because of my income. But i do have 4 dependents under 18. If i file now, knowing I'd receive none of my benefits because of my income, would my dependents be able to start receiving their benefits? i hope i explained this well. thank you.

Hi,

No, your dependents cannot be paid for any months that you can't be paid as a result of your earnings. However, that doesn't necessarily mean that you and your children couldn't potentially get benefits for part of the year. If you won't reach age 66 prior to January 2 2021, then Social Security would need to withhold $1 of the benefits payable on your record for each $2 that you earn in excess of $18,240 this year. Weather or not that would still permit the payment of at least some benefits depends on your benefit rate and the exact amount of your earnings.

For example, say Amy files for benefits when she turns 65 in April 2020. Amy's reduced monthly benefit rate is $2000, and the family maximum benefit (FMB) limit on Amy's record allows each of her 4 children to qualify for a monthly benefit of $400. Therefore, total monthly benefits potentially payable on Amy's record total $3600. However, Amy is still working and will earn $68,640, or $50,400 more than the Social Security earnings test exempt amount of $18,240. That requires Social Security to withhold $25,200 of the benefits payable on Amy's record (i.e. $1 for each $2 of the excess earnings) before any payments can be paid. To do that, Social Security would withhold all of Amy and her children's total monthly benefit of $3600 for 7 months (i.e. $25200/3600 = 7). That means neither Amy nor her children would be paid anything for the months April through October 2020, but they could then be paid their full monthly benefits for November and December 2020.

Your best filing strategy depends on a number of different variables, so you should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) in order to determine the best strategy to maximize benefits for you and your family.

Best, Jerry