Q & A
I got Social Security for the first time this year…will it be taxed?
Complete Question: This is the first year I ever received Social Security benefits. I have other income from investments and salary from before I retired. I was informed that due to my high income this year, there is a good…
Should I take my Social Security benefits at 62 because I’m eligible?
Complete Question: I just turned 62 and my husband will be 66 in 2015. We are both eligible for Social Security benefits due to our own work and do not have to rely on spousal benefits. My husband took his benefits…
Can married couples receive a higher Social Security benefit?
Complete Question: I saw a question posted on your website the other day where a married couple asked if being married could cause a decrease in benefits. Can being married cause an increase in benefits? Answer: Actually, it can, but…
What is the 2015 COLA and how is it determined?
Complete Question: What is the Social Security Cost of Living Increase for 2015 and how does the government decide how much it should be because it does not seem to be in line with inflation. Answer: For 2015, COLA (Cost…
My spouse and I have been married for over 30 years and we are about to retire. Will there be any reduction in benefits because we are married?
Answer: None at all. Lifetime earnings are calculated independently for each spouse; couples aren’t penalized because they are married. When both spouses meet all other eligibility requirements to receive Social Security retirement benefits, each spouse receives a monthly benefit amount based…
I know someone who cheats a little on their Supplemental Security Income application. What can I tell them to dissuade them from giving false information?
Answer: Social Security can impose a penalty of up to $5,000 for each occurrence of false information or withheld information that would have prevented a person from collecting benefits. To report fraud, go to http:// oig.ssa.gov/report or call the Social Security…
I’m not sure when I’m going to retire so I want to estimate my retirement benefit at several different ages. What’s the easiest way to do that?
Answer: Use the Retirement Estimator at www.socialsecurity.gov/ estimator, to get a good idea of what a monthly benefit payment may be after retirement. Keep in mind, these are estimates only and not the actual benefit amount. Source: Social Security Administration, via The…
A few years ago, I lost my Social Security card. Now my credit report shows that someone might be using my Social Security number. What should I do?
Answer: If someone is using a Social Security number fraudulently, they can be reported to the Federal Trade Commission at www.idtheft.gov or (877) IDTHEFT (438-4261). For TTY, call (866) 653-4261. Source: Social Security Administration, via The Acorn, 11/26/2014 Notice: The link provided…
I am about to retire, but I still have a young child in my care. Will I receive additional benefits for the child I care for?
Answer: When persons qualify for Social Security retirement benefits, their children may also qualify to receive benefits. An eligible child can be a biological or adopted child or a stepchild. In limited circumstances, persons may also get benefits for a…
I haven’t received my Social Security Statement in the mail the last few years. Will I ever get one again?
Answer: In September 2014, Social Security resumed mailing Social Security Statements to workers ages 25, 30, 35, 40, 45, 50, 55, and 60 who aren’t receiving Social Security benefits, and who don’t have an online Social Security account. Those over age…