Ask Larry


How Does Deeming Work?

I turn 62 in September 2016, and want to start collecting Social Security. I was laid off from my job last year, and made about $92,000 in 2015. My husband will be 63 in November 2016, and will retire then and begin collecting SS. He is currently making about $57,000 annually. I am confused about "deeming". Since he has not filed yet, will I receive my own benefit, or whichever is the higher of the two? And, then will he just collect on his own benefit when he retires a few month after me? Is his benefit affected by me retiring a few month before him?

Monday, June 27, 2016 - 14:00

Will My Wife Be Deemed If I'm Not Collecting?

My wife will be 62 soon (in July 2016). I am a year younger at 61. I have earned much more than my spouse over the years (est $2,270 from SS @ FRA), but she could receive some Social Security on her own work record (est $660 from SS @ FRA). However, she could obviously receive a much higher payment by taking the maximum spouse benefit from me when I retire (est $1,135 from SS). I plan to keep working and not receive Social Security until I am 70, in 9 years (est $3,010 from SS @ age 70).

Sunday, June 12, 2016 - 07:30
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