Ask Larry

Earnings Test

When Should I Take The Payment From A Settlement With A Former Employer?

I was wrongfully terminated (in my attorney's opinion) by a Judge in the Government) in May of 2020. I have lawsuits (employment discrimination and retaliation complaints) -- five different cases in DC Office of Employee Appeals (case on suspension-won; and case on termination in progress); DC Superior Court/DCCA; DC Public Employees Relations Board (illegal removal from Union); and Federal District Court--most that have been going on since 2017. Government has proposed a settlement that will only net me about $200K total after taxes and additional attorneys fees.

Posted: 
Saturday, October 30, 2021 - 11:41

Can You Explain Why A Surviving Spouse Can't Get Survivor Benefits If They Are Working Full Time?

If you are married and the spouse passed away,you work full time how come the surviving spouse is not entitled to her husband's SS benefits,I was told that I was not entitled simply because I worked full-time,but my son was entitled to receive the benefits,would you be able to explain that to me please

Posted: 
Saturday, October 23, 2021 - 07:31

Am I Wrong In My Thinking?

I've been asked to pay back $10,000+ to SSA in 30 days because I retired at the end of the school year at age 62 and began receiving benefits for the remaining 6 mos. They now say I shouldn't have received any payments because of the teaching salary I earned for the 1st half of the year. My position is that the money I earned in 2019 from teaching was pre-retirement money. I didn't earn ANY money once my SS benefits started. Am I wrong in my thinking? I have appealed their decision, but they've not been very transparent about where I stand in this process.

Posted: 
Thursday, October 7, 2021 - 19:13

Would My Income As A Contractor Be Averaged When Applying The Special Monthly Earnings Test?

I am retiring at the end of August from my W-2 job. I turned 61 in July of this year and am claiming Widows benefits to begin effective September 1 (my first check will be in October). My question -- I understand there's a special rule the first year of claiming SS benefits with regard to the earnings limit. If I work as a contractor in Sept, Oct, Nov and Dec -- how much am I allowed to make? I believe it's $1,580 per month. But do they spread it out over the 4 months? In other words if I make $2,000 or $3,000 in September, and nothing else the remainder of the year....

Posted: 
Thursday, August 19, 2021 - 19:52

How Do I Document For SSA That My Income Doesn't Count For The Earnings Test?

I plan to retire in 2 years at age 62 because I have young children who will get checks along with me and my wife as their caretaker. I am self-employed (LLC) and I am winding down my business (no new clients, no new work) but because of the nature of my business, I get paid some time, (often several years) after I do the work. I have about $1 million in receivable for work done over the last several years that will continue to roll in over the next few years.

Posted: 
Monday, August 16, 2021 - 14:24

What Impact Would It Have On My Benefits If I Suspend My Benefits And Increase My Earnings?

Hi Larry,

I started taking my SS at age 62 & am now 65 1/2. I continued to work & earn the approved amount set by the SSA during this time. I would like to suspend my SS & start earning more money during this economic downturn to make ends meet. What impact does this have on my SS benefits & am I required to payback what I have withdrawn from 62 to current age or from January until I request the suspension? My current employer has offered to increase my pay. I will be 66 in January 2022.

Posted: 
Tuesday, August 3, 2021 - 09:48

Which Months Of My Earnings Count Toward The Earnings Limit?

I started receiving my Social Security benefits March of 2021 at the age of 65 and 2 months. My full retirement age is 66 and 4 months. I am restricted to making $18960 without penalty. does the $18960 ceiling go thru December 2021 and start over in January 2022? does it go from March 2021 thru March 2022 and start over in April 2022 until I reach 66 and 4 months full retirement age on May 18, 2022?

Posted: 
Sunday, August 1, 2021 - 11:55
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