Ask Larry


Where Does It Say In The Law That My Benefit Can Be Recalculated Annually?

I am 68 and only have 40 credits so I'm waiting until I'm 70 to collect retirement benefits. In your book you stated that if I keep working until after I'm age 70, every year my benefit amount will increase because my benefit will be recalculated annually based on my increased payments into social security. Can you tell me where it says that in the law. My friend just turned 70 and is in the same position as I am and SSA told him his benefit at age 70 was frozen and could not go up.

Monday, March 21, 2022 - 10:04

Was It A Mistake For Me To Request A Recomputation Of My Benefit Rate?

I requested a re-computation of my retirement benefit since the amount I was to start receiving next month did not include last year's wages which will eliminate one very low earnings year. Since they received my request (about 1 week ago), I've noticed that they zero'd out my benefit and blanked out the date of my first check which was to arrive around April 13th. I've been watching my account online daily and nothing has been updated in a week now. I've been trying to call and ask but I have had no luck getting thru to a live person.

Wednesday, March 2, 2022 - 18:23

When Social Security Recalculates My Benefit Amount For Last Year's Earnings, Will It Be Retroactive To January 2022?

I understand that SS will recalculate my benefit due to additional wages reported. I reached full retirement age January 1, 2022 (my DOB is 11/24/1955) and so applied for those benefits to start at that time. I retired 12/31/2021 and so had wages from all of 2021. Those 2021 wages were not used in the calculation for my benefit since they were not reported at that time. My question is when SS does finally conduct a recalculation that will include my additional 2021 wages, will my increased benefit be retroactive back to 01/01/2022?

Monday, February 7, 2022 - 18:21

Will The Fact That I Was Penalized For Going Over The Earnings Limit Have An Affect On My Future Payment Amount?

I retired at 62 and was penalized several years for going over the SS income limit. I make payments even though I am 66 and 5 months. My question is, the 4 years SS was taken out of my check since I was 62 does that affect my future payment amount or any info that might help?

Thursday, January 20, 2022 - 14:39

Do You Have Any Idea Why My Benefit Amount Hasn't Been Recalculated Yet?

In March of 2018 and 2019, SSA recalculated my monthly benefit due to an increase in earnings. I had a minimal work experience, so those years increased my monthly benefit by $50 and $55/mo. respectively. My income increase for 2020 was about 3 times that of 2018 & 19, but, to date, I have not received an increase in monthly benefit. Someone told me that they review earnings in March and December, but everything I read says they review when they receive reported income for the year, in my case from my employer. Any ideas what's going on?

Tuesday, June 1, 2021 - 16:49

When Will My Benefit Recalculation Be Processed?

I starting SS benefits at 62. Due to working between 62 and 66, SS withheld about half of my benefits each year. I turned FRA September 2020 and SS has yet to recalculate my benefit (as of May 2021 benefit). When I talk with SS staff, they get confused and think I'm asking for the increase to my original FRA amount. I mention FRA to them because the recalc occurs after FRA, so they tell me I agreed to the reduced benefit and my benefit will not change. Maybe I do not know how to word my request. Can you tell me when the recalc occurs for FRA in September 2020?

Thursday, May 27, 2021 - 18:42

What Can I Do To Make Sure That Social Security Computed By Benefit Amount Correctly?

I retired at 62 and applied for SS benefits, i am 68 now but my relatives keep telling me that I get a lot less then they get and that there must be an error on my calculation of my benefits by SS. What can I do or who can I contact to make sure they did it correct?


Saturday, January 9, 2021 - 16:37
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