Recomputations

When Will My Benefit Rate Be Recalculated To Give Me Credit For The Months That My Benefits Were Suspended?

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I had to start my retirement benefits @ 62 (2015) due to being unemployed for many months prior to my birthday, which is in May. Latter that year I was fortunate to become reemployed and continue to receive benefits for remainder of the year (2015). For 2016 and present year (2017), my benefits are suspended due to earnings test and also anticipate same for next year, 2018. In January of 2019, my 66th birthday year, I'm assuming my checks will start back up based on the 1/3 earnings test and receive partial payments (based on $60,000 annual income).

What Will My Benefit Be at Age 70 If I Continue to Work?

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Please no phone calls. Also, please let me know up front if you charge for this advise I am requesting. Thanks
I am 67 years old and earning approx 60k a year. My current SS will be 1,328 and at 70 1,728 based on earnings of 2,300 a year. How much will my SS be at age 70 if I continue to earn 60 k for the next 3 years. Also , if I collect now how much tax would I pay on my SS. The question is does it make sense to collect now or wait. I can live on my income presently. Maybe I should collect and bank my SS but dont want to get taxed on it. Suggestions.

Are Benefits Ever Recalculated?

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Larry, I have another question that I never see addressed in any article on SS...and I do try to read all of them. If we continue to work after claiming SS, does SS take that new earned income into consideration if it is higher than some of our early years of income? How often, if ever, is there a review and an adjustment? Thanks for all your hard work on this topic!

Hi.

What Happens If I Keep Working?

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Hi larry,

Thanks for doing this column.

I took my Social Security during the recession at 62. I really have been working ever since. I understand that whatever I got at that time is it. Seems a little odd to me that when I finally stop working which may not be till my 80's, (excellent health) there will be no benefit increase beyond the standard.
Also isn't there a time when they stop deducting federal taxes for medicare?

Thanks a bunch,
Arlene

Hi Arlene,