The Down Range Forum
Member Section => Down Range Cafe => Topic started by: billt on September 06, 2016, 07:58:41 AM
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I'm retired, and I am 63 years old. I've been collecting Social Security benefits since I turned 62. My wife will turn 62 this time next year. She will also start collecting her benefits then. Her current monthly payment she qualifies for at 62 is less than half of my current monthly payment. She is not working, so that will not likely increase in the upcoming year.
My question is will she be able to receive the larger payment of half of my benefit, instead of her lesser benefit? We have no children, and have been married for 34 years. According to this example from the S.S. website, she is. But I'm feeling this is one of those, "too good to be true" situations. I would like to hear from any of you guy's who's wives are actually getting the increased benefit of half of your benefit, over their lesser benefit. I just want to be sure I'm reading this correctly. Thanks in advance.
https://faq.ssa.gov/link/portal/34011/34019/Article/3754/What-is-the-eligibility-for-Social-Security-spouse-s-benefits-and-my-own-retirement-benefits
"Here is an example:
Mary Ann qualifies for a retirement benefit of $250 and a spouse’s benefit of $400. At her full retirement age, she will receive her own $250 retirement benefit, and we will add $150 from her spouse’s benefit, for a total of $400. If she takes her retirement benefit before her full retirement age, both amounts will be reduced."
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I am not in that category, but having parent and in-laws that have been in that stage I have learned that the Social Security office is a great help. For my mother it was the office who brought up the fact that she was entitled to my father's benefits, even though they were divorced, he was remarried, and he was dead. His benefit was higher than hers, so that was an instant increase, and then when she reached 72 and hadn't used her benefit, it had grown so she got another large increase by switching to it.
I recommend you talk to your financial planner, and then go to the SS office and sit down with them. Nobody in our area has complained about not being helped in a good way by them.
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I checked on line, and I can't find anywhere on the S.S. website that allows you to ask a E-Mail question. If you try to call, you're put on hold forever. And only after you go through the whole, "press 1, press 2" format. So I just gave up. I know I could drive down to the S.S. office, but the lines there are very long. That's why I posted this here.
When I applied for my benefits, I did it on line. Then, a week or so later, a woman from S.S. called me, and I had to verify my identity, and she asked me several questions, and that was it. I started receiving my benefits on the exact day she said I would.
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We are fortunate to have regional offices within our state - Two within 60 miles that serve us.
I always told people when they were dealing with estates, surviving spouse changes, to have some snacks, beverages, a good book, and the tv remote handy in their favorite chair before dialing the 800 number. However if you have the number of your local office, you will get much quicker attention, and they are the ones that give the best and clearest answers. If you don't know where your local office is or their number, call your funeral director for the information - They deal with this information daily.
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I retired just short of 63 and started receiving benefits. My wife turned 62 10 months later and applied. She gets about 40% of my benefit. If you were wondering about when you passed your wife looses hers and gets your full amount. Hope this helps.
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Thanks. The way I understand it, (And the way the example shows), is if half of your benefit is the greater amount over what she is entitled to receive on her own, she then receives the greater of the 2 benefits...... Not both. Then when I die, (assuming I go before her), she then receives my benefit, and gives up hers.
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I know very little about Social Security Retirement, but I am about your age - and I know that there have been some changes that apply to people born after 12-31-1953. People born before that date have some options available that people born after that date do not have. I do not know if any apply to your situation.
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Head down to the SS officeon a Wednesday. Typically, here at least (KY) they are only open half day, and the wait is short. Be the first one there. My wife and I found them to be very helpful (surprise!).
My wife is getting her late husbands SS payments, which are quite a bit larger than hers (tho not as large as mine . . . . ;D ) which she can do to 70-1/2. Note: We waited until we were fully vested to max the payback.
Now that this has been answered 12 ways to Sunday, get the hell off my lawn!!!! >:( >:( >:(
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I can't answer your question directly but I can offer this.
My wife is disabled and receives a stipend from SSI, from her own work history, that will grow to half MY SS income WHEN she turns 65 (while I'm still alive) but not until. That may be the same caveat that you're seeing.
As said, call SS and get some answers. I've never had trouble getting through myself.
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Not sure how that works out when her actual benefit is less that the spousal, but...
Miss Kitty and I are both over 65 and still working. She is collecting an amount equal to half my current benefit as a "spousal benefit." This will continue until she actually files for her benefits, which are greater than half mine. The "spousal benefit" was meant to provide income for divorced women who had supported the husbands for 10 years or more.
Oh btw, if a woman has had another husband, an ex, with whom she was married to for at least 10 years, she can also collect half of his. Double dip, so to speak. Permission not required, but he must have filed for SS.
None of this in anyway reduces the husband's benefits. Nor does the husband, or ex, even have to know it's happening. I did have the "file and delay" my benefits, but it was just a paper work technicality.
Yes, this is too good to be true. It's being phased out, but you will probably qualify still.
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That's a really good move, Alf... Well thought out.
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On of the key's to SS is FRA, or Full Retirement Age. In Miss Kitty and my case that was 66. So when SHE turned 66 (she's 6 months younger than I... Yes I robbed the cradle) is when we had all this happen. If she delays filing for her SS until she's 70, then we've collect 4 years of spousal benefit. Taxable, of course, but found money none-the-less.
And the reason, students, you wait, is that for every year you delay filling for SS after FRA is your benefit increases 8% up until age 70. That's like real money, given the current low rate of inflation. THE BIG NEGATIVE, is you might DIE before you can enjoy it.
Place your bet. Take your chances.
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Alf, did you remember to "remind" the SS admin that you're a Veteran? We younger guys are built into the system but earlier Vets need to tell them...
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And the reason, students, you wait, is that for every year you delay filling for SS after FRA is your benefit increases 8% up until age 70. That's like real money, given the current low rate of inflation. THE BIG NEGATIVE, is you might DIE before you can enjoy it.
That's why I didn't wait around. I took mine at 62. And Mel will too. If I waited until I was 65, yes I would get more. But I would have to play catch up for the 36 months I have already been receiving it, by taking it at 62. That would require me to live until I was 80 just to break even. Will I? I hope so. But in the meantime I will have been enjoying an extra 3 years of retirement.
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Alf, did you remember to "remind" the SS admin that you're a Veteran? We younger guys are built into the system but earlier Vets need to tell them...
How can you tell if they know? I am pretty sure I told them...but don't know for sure or if they did anything with the information. What does being 'built into the system' mean? Just that it will show on some record they check? Maybe since your service number IS your SSN too?
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How can you tell if they know? I am pretty sure I told them...but don't know for sure or if they did anything with the information. What does being 'built into the system' mean? Just that it will show on some record they check? Maybe since your service number IS your SSN too?
I'm not sure, Solus. It's built in for me, I'm 59 so they've calculated the stipend into my benefit when I get around to collecting my SS. I looked it up for a buddy who served in VN and he had to notify the SS Admin to get the allowance, he's 69 this year. I'll ask him how he made out when I talk to him next. He stopped by my shop to apply for a job today but I missed him..
Basically, since we Vets paid into SS during our active duty service, they give us a little carrot for our service. It might amount to 100-200 more a year but it's your frigging money...
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There are nearly 400 different scenarios to receive SS benefits. In my area, there are many financial planners that put on free SS seminars. These are really marketing seminars for their business, but can be helpful as many of the planners will follow up with a free consultation. Many of these businesses have software to run different scenarios. There was a not well publicized change in the law earlier this year that had to do with married couples and the way spousal benefits are calculated that resulted in lower benefit dollars if not applied for before that time. So the methods and calculations that applied to some past retired couple have been changed and won't be applied to new retires. Did not affect current recipients, but did, and will affect those that did not get the changes and paper work in order before the deadline. I also suggest consulting in person at a SS office as the case workers there were very helpful.
I believe that if you are working, your benefits may be reduced, dependent on amount of income. I think there is a method to recover those benefit when you reach full retirement age, and the income restriction are lifted at that time but am unsure of the details.
I found out that I can actually collect spousal survivor benefits early as a widower, but it is reduced significantly, and has some pretty heavy income restrictions. The upside is that by waiting to claim the $$$ will grow some. Will probably use the survivor benefits as a bridge between retirement and when I draw benefits based on my record.
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Timothy I did not know former military get something from SS. That's great.
You probably already know this but they have the website you can get on and calculate your benefits on actuals...they already know our SS numbers, right?
Anyway, in my situation at age 60 and looking at the earliest distribution, 62 (I wish), the difference in the benefit whether I work the next two years and contribute or I do not work and do not contribute is less than $20/month. It's all about age for me now to increase that benefit.
I looked at the money I contributed and dang, what I would not give just to have that instead.