Q & A
I am in CSRS offset, and I am eligible to retire now. I turned 66 on April 8. I started collecting Social Security benefits as of Jan. 1 and continue to work. How will my retirement calculation change when I retire? Most, but not all, of the Social Security benefits were earned while I was under CSRS offset. I copied the following excerpt from “Ask the Experts”: “In the year you reached your full retirement age, it would be reduced by $1 out of every $3 you earned. After that, there wouldn’t be any reduction.” I don’t understand what will be reduced from my Social Security or my retirement when I retire?
Answer : The quote applies to the Social Security earnings test. Once Social Security recipients reach their full retirement age, they can earn as much as they want from wages or self-employment without it affecting that benefit. On the other…
Refund on Medicare?
Full Question : I am a retired disabled military member who works in the federal government. Since I am retired, I did not opt for any of the Federal Employees Health Benefits, as I am covered through Tricare as well…
How did the new budget agreement affect the special retirement supplement? I am a letter carrier and am planning on retiring in 18 months with 27 years of service at age 60.
Answer : The special retirement supplement avoided the budget ax and will continue to be payable to eligible FERS retirees. Source : Reg Jones, FederalTimes.com - January 2, 2014
My husband will turn 65 next year and go on Medicare and Tricare for Life. Will my Tricare coverage continue until I turn 65 a year later, or should I enroll in my company’s health insurance program for 2014?
Answer : As the spouse of a military retiree, you will never lose Tricare eligibility as long as you remain married. You may stay on whatever Tricare plan you currently use (most likely Tricare Prime or Standard) until you also…
Is it true that my child can receive Social Security benefits based on my earnings record?
Answer : Your child–whether he or she is your biological child, adopted child, or stepchild–may be able to receive Social Security monthly benefits based on your earnings record if you’re receiving disability or retirement benefits from Social Security, or in…
Does Social Security provide special services or information for people who are blind or visually impaired?
Answer : Yes. Social Security offers a number of services and products specifically designed for people who are blind or visually impaired. Special Notice Option: If you are blind or visually impaired, you can choose to receive notices and other…
Do disabled children qualify for benefits?
Answer : Yes. There are two disability programs run by Social Security that include benefits for disabled children. Under the Supplemental Security Income (SSI) program, a child from birth to age 18 may receive monthly payments based on disability or…
I run a small business and I am hiring a few employees. How can I recognize a valid Social Security card?
Answer: There are more than 50 different versions of the Social Security card, all of which are valid. Although there are several current versions of the card in circulation, all prior versions of the card are valid. The number is…
I got an email that says it’s from Social Security, but I’m not so sure. They want me to reply with my Social Security number, date of birth, and mother’s maiden name for “verification.” Did it really come from Social Security?
Answer : No. Social Security will not send you an email asking you to share your personal information, such as your Social Security number, date of birth, or other private information. Beware of such scams – they’re after your information…
My wife wants to retire next year, and she will be 57 in July. Plans on retiring end of March. According to Social Security, her SS benefit at age 62 would be $1,857 a month, but it says it is based on her working until 62 and that she earns $110,000 a year during that time. I can’t find anything about what happens under her scenario of retiring at 56.75 years old. Will her benefit be reduced because she does not work until 62? Her first year with full-time SS contributions was 1983, and her SS earnings were $12,750. Prior to that, she had some on-and-off part-time earnings starting in 1974; not more than $1,200 in any year, and some years were $0.
Answer : To find out what her Social Security benefit would be using different scenarios, go to www.socialsecurity.gov/planners/benefitcalculators.htm and select a calculator that best fits her needs. Source: http://blogs.federaltimes.com - November 18, 2013