Ask Larry

Recomputations

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.

Posted: 
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?

Posted: 
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?

Posted: 
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?

Posted: 
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?

Posted: 
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?

Hi,

Posted: 
Saturday, January 9, 2021 - 16:37

How Do I Ask For A Recalculation?

Hello Larry, I retired at 68 in October, 2018. I earned 59K in 2019, 30K more than one of the years included in my 35 year look back. I was told by a social security representative that this amount would not make much of a difference in a recalculation of my benefit and would not qualify for a reconsideration. Is this true? If not, how does one proceed in asking for a recalculation?

Hi,

Posted: 
Monday, December 7, 2020 - 11:33

Will My Benefit Rate Be Recalculated?

I filed for benefits at age 66, benefits became effective in February 2020. I am currently receiving the maximum FRA benefit for 2020. I am still working and exceeding the FICA limit. I understand that the maximum benefit will increase in 2021. Since I am still working, will my benefits be recalculated which could allow me to again get the maximum amount in 2021 which I believe is $3,113?

Hi,

Posted: 
Monday, December 7, 2020 - 11:23

Will My Higher Earnings Initiate A Benefit Recalculation?

I have earnings now (post-retirement) that are likely enough to replace some of the lower earning years currently included in my benefit calculation. Will those years initiate a benefit recalculation and a possible retro adjustment, even though I am now well into my retirement period. I am currently just shy of 72 and I did not take my retirement benefit until age 70.

Hi,

Posted: 
Thursday, November 26, 2020 - 10:02
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