Q & A

Ask Rusty – Does Paying FICA Tax Now Increase My Benefit?

Dear Rusty: If a person retires at age sixty-six and continues to work full time, Social Security taxes are still taken out of his weekly paycheck. Will this taxation for Social Security contribute more to the person’s Social Security benefit,…

Ask Rusty – About Working While Collecting Early Social Security Benefits

Dear Rusty: I will be 65 in August of this year. If I start drawing Social Security on my 65th birthday, how will my Social Security check be affected if I continue working at my full-time job, and take home…

Ask Rusty – Should I Claim Social Security Now or Wait Until I’m 70?

Dear Rusty: I’m currently 67 years old and still working full time. I took a big financial hit in 2008, which is why I’m still working, and I expect to continue working until I’m 70. My question is: should I…

Ask Rusty – Avoiding WEP & GPO Reductions

Dear Rusty: I am a retired Texas teacher receiving my State pension. I retired in February 2009, before the end of a “loophole” which affected my future Social Security. I had earned enough credits to receive Social Security benefits in…

Ask Rusty – How Will My Wife’s Benefits Be Affected by My State Pension?

Dear Rusty: I am 73 and receive a pension from my state’s Police and Fire Pension Fund. I took a full pension, so my wife only gets a widow’s pension when I die, and this is only a fraction of…

Ask Rusty – About Social Security’s “First Year” Rule

Dear Rusty: I am 63. My birthday is 10/23/1957. I currently draw a small pension of $14K and a salary of $75K. I’m contemplating retirement at the end of April this year and I’d like to start drawing Social Security…

Ask Rusty – Delayed Claiming; Am I Now Getting the Right Amount?

Dear Rusty: I am having problems getting answers from the national Social Security office or the local agent who I first spoke with to apply for my benefits. I am 70 in January 2021 and applied for benefits at the…

Ask Rusty – Should I Wait Until Age 70 To Claim?

Dear Rusty: I have read your answers to the commonly asked question of “When should I claim social security benefits.” You always say one should wait as long as possible (up to age 70) to get the maximum monthly benefit.…

Ask Rusty – Do COVID-19 Bonuses Count Toward the Earnings Limit?

Dear Rusty: I’m 63 and still working, and I receive Social Security benefits. Because of COVID-19 my employer has been giving us a $300 bonus, every 3 months. This will be $1,200 for the year and it will put me…

Ask Rusty – Did My Wife Get A “Notch Baby” Benefit Increase?

Dear Rusty: I was born in May of 1930, and my wife was born in April 1931. My wife claims she received an increase in her Social Security benefit due to the “Notch Baby” provision. Is she correct about this?…

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