Ask Larry

Calculating Retirement Benefits

If I Work Post-Retirement Will That Change The Way WEP Is Applied?

Hello Larry, I am currently collecting a small municipal pension and am eligible to retire and collect a state pension soon. According to I will be entitled to 850 a month at full retirement age which I understand will be diminished by the Windfall Elimination Provision. If I work post retirement and before collecting SS will that change the way the WEP is applied? Thank you, Eric

Thursday, July 8, 2021 - 12:21

Is It Possible That Social Security Isn't Including COLAs In My Own Benefit Calculation Because I Already Received COLAs As A Spouse?

My full retirement age (July 2017) I filed a Restricted Application for Spousal Benefits (which I was eligible) and received 50% of my husband's benefit for 4 years. I will be 70 this month (July 2021) and I was informed by Social Security my new benefit calculation result includes the 4 years of Delayed Retirement Credits (8% yearly). However, I determined this calculation did not include any Cost Of Living Adjustments (COLA) for those SAME 4 years.

Wednesday, July 7, 2021 - 10:14

Will My Social Security Payment Go Up When I Reach Full Retirement Age?

The division where I worked was sold in 2013 to a private equity group. We were declared bankrupt in 2015 - all employees were laid off. I started Social Security early before my full retirement age - while still having a part time job. When I do reach my full retirement age will my Social Security payment go up?

Monday, June 14, 2021 - 06:49

When I File For My Social Security Will They Count The $50K Per Year That I've Been Receiving From My Long Term Disability Policy?

Hello, I've been on long term disability since 2003 (age 40) on a private policy, non taxed, at about 50k a year.

I'm now 58 and still on that policy till I'm 65. when I apply for for social security at that point, will my benefits be minimum because I haven't contributed for so long, or do they take the 50k a year from disability and count that as income anyway?

Please help. Thank you

Saturday, June 12, 2021 - 16:28

Will It Reduce My SS Benefit Is I Do A Phased Retirement?

I am now at my full SS retirement age, but still working. I plan to defer taking SS for two more years. I understand that if my income for those years may increase my SS benefit if they increase the 35-year average. But what if I do a phased retirement, with my last year or two at 75% salary? Those numbers may still be top-35 for my calculation. Will that reduce my SS benefit, or is the calculation "fixed" and safe from reduction once I reach my full SS retirement age?

Monday, May 31, 2021 - 14:09

Does Social Security Recalculate My Benefit Amount To Include Earnings I've Had After I Started To Draw Benefits?

I began receiving SS benefits in 1992:but have continued to receive earned income subject to social security tax for the following 28 years. Does SS Administration recalculate my benefit to include my earnings in these subsequent years?

Saturday, April 17, 2021 - 18:24

How Can My Wife And I Estimate What Our SS Benefits Might Be?

My wife and I are Canadians working in the US as permanent residents (Green cards). I started working in Aug 2013, my wife in May 2014. I will be 66 in Nov, she will be 59 in June. We want to continue working here until we both have 40 points with SS, then retire to Canada (mid-2023). How can we estimate what our SS benefits might be? If we only contribute for 11 and 10 years respectively, how long can we receive SS benefits? Thank you.

Wednesday, March 24, 2021 - 08:09

How Can I Know With Certainty That My Benefit Amount Is Correct?

I have two questions regarding Social Security that I hope you may be able to clarify:
1. How can I know with certainty that my ultimate Social Security personal benefit amount is correct, after having received an incorrect amount over the past 20 months and having been informed by the SSA on three occasions that my benefit amount was correct? My benefit is now being reviewed for final determination, but I would like to know how I can check the final amount for accuracy. (Please see below for relevant background.)

Thursday, February 18, 2021 - 12:19
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