Retirement Benefits

Are There Any Reasons Why My Sister Should Continue To Wait To File For Social Security Benefits?

Larry, I'm writing on behalf of my sister. She is having difficulty deciding to apply for social security benefits.
Sister is 71 and continues to work full time. Cheers for good health. Her husband, former Federal employee, is retired through permanent disability related to employment - OWCP. Sister lives in South Carolina, which I believe does not tax social security benefits. She is aware the benefit amount will no longer increase with age and that she will not receive benefits for the time period where she did not apply.

Will My Retirement Benefit Go Up Or Down If I Work Past Age 70?

I will turn 70 on December 25, 2017. I work at Northwestern University and intend to continue working until our new University Center opens - hopefully by 2020. I am in decent health, and love the work that I do. I have asked this question of Social Security and I never get a straight answer. Whatever the dollar amount that I would receive if I retired at 70, if I keep working beyond 70, will that dollar amount remain the same? Or do the taxes that I would pay Social Security make the dollar amount go down?

How Can I Found Out If I'm Receiving Extra Income From Social Security For My Military Service?

How do I know, or find out if I am receiving extra income from Social Security for serving in the US Army in 1970_1971


The extra income you're referring to are deemed military wages (DMW). During the time you were in the service, Social Security credited you with an extra $300 in wages over and above your actual wages for each calendar quarter (e.g. Jan-Mar, etc.) in which you had active duty (

Why Did My Projected Benefit Rates Go Down?

I am 64. I just received my annual Social Security statement and am horrified to see that the predicted benefits that I would receive were I to retire at 64, 66, or 70 have all gone down by about 18%. This makes a huge dent in my plan to retire in two years.

How did this happen? Was there a legislative change that was not well publicized? Is there a new calculation method in use?


Does Filing And Suspending Affect The Benefit Computation?

I understand that SS benefit calculated on highest 35 years of wage-indexed earnings, including earnings between age 66 and 70, for delayed retirement.
However, does this also apply if person “filed and suspended” at age 66 and a spousal benefit has been paid?
In other words, will the delayed retirement SS benefit (to be paid at 70) be updated to include (higher) earnings during suspension period?


How Are Social Security Benefits Calculated?

How is the SS benefit calculated if a person starts to draw it at 70 and if he worked full time from the age of 66 to 70, but did not take SS benefits, while he and his employer continued to make SS and Medicaid contributions??


Social Security retirement benefits are calculated based on a person's highest 35 years of wage-indexed earnings. For more detailed information, refer to this Social Security publication:

How Can I Raise My Monthly Benefit Rate?

I'm a hair stylist in my mid 60's and my social security is projected to be 1300 at 70. What can I do to get the payment as high as possible?

Hi Jackie,

There's really only two ways to increase your monthly retirement benefit rate:
1) Wait past full retirement age (FRA) to begin drawing your benefits; and,
2) Continue to earn as much annually as possible.

Is There A Time You Should Avoid Filing?

Aloha. I am trying to help a family member who was born in 1951 and so (I think!) he qualifies for Social Security benefits when he turns 66 in August. He said that he is concerned about applying during a “rat hole” - a relatively short period of time after one qualifies during which benefits are calculated at a lower value. Do you understand the term, and is there any reason that he should not just file on schedule in August? Any clarification would be greatly appreciated!