Hi Larry, I’ve read your book and have used your software - -thanks for both! My question has to do with the family maximum benefit and the benefit for a parent caring for an adult disabled child. I have enough credits to file for SS benefits but my spouse does not, and we care for an adult severely disabled child (who now gets SSI). If I file at 62, and my spouse (who will be 59) and child also file then, based on my earning’s record, my understanding is that my daughter and spouse would each receive a benefit equal to 50% of my PIA.
Family Benefit Maximum
I am a 68 year old male born in April 1950 who has children aged 19,17,14, and 11. My wife is 50 years old.
I made the cut-off in April 2016 at age 66) for filing for soc security benefits for my children while I also formally filed and suspended my benefits with a goal to resume (unsuspend) my benefits at age 70. I plan to continue working to age 75.
My 11 year old will continue to receive dependent child benefits through December 2024 (turns 18 Jan 2025).
Can you exceed the Family Maximum Benefit (FMB) if you are receiving Delayed Retirement Credits (DRC)?
I understand that waiting until age 70 to take SS benefits will provide the maximum benefit, but in my case I will be subject to the family maximum sooner as both my wife and disabled adult daughter will also be receiving benefits based on my work record. I am trying to calculate the minimum age, after I retire, that I can start to receive SS benefits at the family maximum amount. My current SS statement estimates my monthly benefit at $2973 at my full retirement age of 67. I calculated my family maximum as $5202.31 [1.5*1144 + 2.72*507 + 1.34*503 + 1.75*819].
In a family of three all on survival benefit but one is the disabled widow and the other two are child in school but over the age of sixteen do they still use the family maximum to calculate all benefit of widow gets 71.5 and child 75
I am 64 and my wife will be 63 next month. We have a 20 year old disabled child who is currently living with us. Our daughter will rely heavily on Social Security benefits since her earnings will be minimal. My question has to do with maximizing her Dependent Adult Child (DAC) benefits. My social security benefit statement shows my benefit at FRA as $2390/month, at age 70, it will be $3220. The Maximum Family Benefit is shown as $4090.
I have two questions. If it appears that at my full retirement age, 66-1/2, we will hit the max of the family benefit (my Social Security, and my husband claiming on mine), is there still an advantage to me working until I'm 70?
Both my husband and I collect social security on our own records starting at FRA in March 2016.
In 2017, my husband collected $2647, and I collected $1002. They had paid me a spousal benefit starting in March 2016 but sent a letter of overpayment in Nov 2016 and now only pay me on my record citing FBM.
Our 38 yr old daughter has been disabled since birth. She has worked part time for several years and receives SSA based on her own work record. My husband and I just applied for retirement benefits starting in 2 months when he reaches full retirement age (66) and I will be almost 65.. The representative told us that our daughter will now have to get benefits based on my husbands work record. His benefit will be about $2500.