Ask Larry

Retirement Benefits

Can I Collect Benefits Retroactive To My 70th Birthday?

I will retire in April - I turned 70 yrs. old in March 2016. I did not take my social security at that time as I am still working. I will start taking it the month I retire. Can I collect back to my 70th birthday or at least collect for the past 6 months? I thought I needed to be retired before I started asking them to send my monthly check. I have set up a meeting with my local SS office - should I also seek an attorney to help me collect back payments?

Thank you for your assistance.


Wednesday, January 11, 2017 - 16:15

Why Did My Benefits Stop?

I started receiving Social Security Retirement benefits when I was 62. I am now 67. I don't work and have not had a consistent job since 1989. I first began working in 1967.
I was receiving monthly benefits until May, 2016. At that point the benefits stop. Why would The SS Administration discontinue my benefits.


Saturday, January 7, 2017 - 08:00

How Is The Reduction For Taking Early Benefits Calculated?

I haven't found an answer to this question either on the Social Security website or in your software: for someone born on January 4 who wants to apply for early retirement benefits at the age of 63 (in January 2017), should the application ask for benefits to start in January or February? In other words, if the applicant asks for benefits to start on January 1, 2017 (a few days before they turn 63) is the lifetime benefit calculation based on age 62 or 63?

Saturday, December 31, 2016 - 10:45

Will My Benefit Rate Be Adversely Affected If I Don't Have Maximum Earnings This Year?

Larry - Doing end-of-year tax planning and a question about raising my salary for 2016 to reach the 2016 maximum ($118,500). I will be 66 in Aug 2017; my plan is to defer taking my social security until age 70 - projected benefit at FRA is $2,575, and $3,498 at age 70.
On 4 of the last 5 years (and 7 of the last 10) I have "maxed out" my salary - wages in excess of the SS contribution limit. This year I am at $102,400 to date -- I have taken the required compensation amount from my prof corp (per my CPA) to meet the fiscal year requirements.

Tuesday, December 27, 2016 - 11:30

Will My Social Security Rate Increase If I Stop Working?

I took early retirement at age 62 because I had total knee replacement then I had Lumbar Spinal Fusion Surgery. I went back to work part-time 2014 then full time since June 2016. I turned 66 November. I received $616 from S.S. I make $11.50 an hour. If I stop working now will my SS increase?


Probably not, or at least not by much. Your Social Security retirement benefit rate is based on your best 35 years of inflation adjusted earnings, so you may or may not be due a bit of an increase based on your recent work and earnings.

Friday, December 9, 2016 - 13:15

Am I Considered Full Retirement Age For Social Security Purposes In January Of The Year I Reach Age 66?

I was born December 2, 1951. Hence, my "retirement age" for SS retirement benefits is 66. However, if I apply for benefits now to begin January 1, 2017, am I still 66 for SS purposes (even though chronogically I am not 66 for 11 more months)?

Thank you.


Thursday, December 8, 2016 - 16:15
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