Q & A
I started drawing Social Security at 62. I drew on it for 16 months then went back to work. Would there be a value in paying back what I received and waiting until 66 to restart?
Answer: You only have one year to pay back your benefits, inclusive of any Medicare premiums paid out of your Social Security check, and then reapply at a later date for higher benefits. So you’re out of luck on that…
I am 63 and am eligible for Social Security Disability Insurance (SSDI). My wife is 64 and needs to work four more quarters. I may receive $1,000 per month from a State Retirement Plan. Should I hold off on taking SSDI?
Answer: You can’t lose from taking your SSDI. At full retirement age (66 in your case), it will convert to your Social Security unreduced retirement benefit. But at 66, you can withdraw your retirement benefit and wait until 70 to…
How can I find out when my ex-husband, to whom I was married for 17 years but with whom I’m no longer in contact, does anything regarding his Social Security benefits?
Answer: Unfortunately, Social Security’s privacy provisions are in conflict with the reasonable rights and needs of divorcees to have access to their ex’s past covered earnings records. When you near age 62, the Social Security Administration will give you an…
Is It Worth Taking Social Security Early And Investing The Benefits?
Answer: [sic] Not Recommended. Any higher return you can expect to earn — relative to the relatively high safe return Social Security pays from waiting to collect — comes with significant risk. So evaluating investments in the market, be it…
Do I or do I not qualify for TRICARE For Life now based on my disability with Medicare?
Full Question: I am currently 56 and have to wait until 60 to draw my retired pay. I am drawing Social Security Disability and have Medicare. I am also married.I have read that I may qualify for TRICARE For Life…
I am of full retirement age and collect Social Security. Do I still have to contribute to Social Security if I go back to work? If I do pay, will that change my future Social Security collection rate?
Answer: If you have earnings from wages or self-employment, deductions will be taken from your pay. This will result in an increase in your Social Security benefit. (Source: Federaltimes.com, 7/10/2013)
My spouse and I are both entitled to our own Social Security benefits. Will Social Security reduce our combined benefits because we are married?
Answer: No. When each member of a married couple works in employment covered under Social Security and both meet all other eligibility requirements to receive retirement benefits, we calculate their lifetime earnings independently to determine their benefit amounts. Therefore, each spouse…
Is the offset to my CSRS pension at age 62 calculated on the Social Security amount before or after the WEP reduction?
More on the question: I am in CSRS Offset and will retire next year at age 60. I plan to start collecting Social Security as soon as I am eligible at age 62. As I will have only 23 years…
How are Social Security child benefits computed?
Answer: When you receive Social Security or if deceased, your children may qualify for benefits, including biological, adopted or stepchildren. Child benefits are the same for Social Security retirement, survivors or disability but amounts differ. If you receive Social Security retirement…
Why is there an earnings limit for Social Security Retirement?
Answer: Ever wonder why annual earnings from gross wages or net self-employment can reduce the amount of Social Security retirement received (now only if you are younger than full retirement age)? According to the history section of the Social Security website,…