Q & A
Am I eligible for a refund of Social Security and Medicare taxes for when I was on an F-1 visa?
Full question: This question is for a friend. They came to the United States as a student in 2009 on OPT/F-1 visa. In November of 2011 they started to work for the Department of Defense as a teacher. They had Social…
“I am thinking about suspending. My birthday is January 4, and I started getting payments early, at age 65 and one month, in February. I got my first check in March. I thought I read somewhere that I cannot suspend if I took early payments? Is that true?”
Answer: You cannot suspend payments until you hit full retirement age, which in Jeff’s case is 66. Once he turns 66, Jeff could suspend payments, even if he has already started receiving them. At that point, the amount he was receiving…
“I have been trying to get the exact method used to compute my wife’s 50 percent amount if she decides to suspend her benefits when she reaches full retirement age of 66 next year. Is it based on 50 percent of the amount I received when I took my Social Security at age 62? Or is it based on the amount I currently receive?”
Answer: The spousal benefit Chuck is referring to is up to 50 percent of the amount he would be entitled to receive at his full retirement age (Social Security calls this the primary insurance amount), regardless of when he started actually…
My brother recently left me some money. Will this inheritance affect my SSI benefits?
Answer: We consider the money inherited from your brother as income for the month you receive it. That could make you ineligible for SSI that month, depending on the amount of the inheritance. If you keep the money into the next…
How do I apply for retirement benefits?
Answer: You can apply online or make an appointment with a Social Security representative at a local office. Generally, it is easier and faster to apply for benefits online at www.socialsecurity.gov. The process takes as little as 15 minutes and, in most cases,…
When I start receiving benefits, will the amount stay the same for the rest of my life?
Answer: No. Generally, your benefit amount increases every year to protect you against inflation. An increase in the consumer price index will give you a cost-of-living adjustment (COLA). For 2014, that COLA adjustment is 1.5 percent. Your benefit also may increase…
Is there any penalty for beginning to take my benefits at age 62?
Answer: Yes. If you start taking your benefits before your full retirement age, the amount you can collect will be lower than the amount you can collect at your full retirement age. (If you wait until full retirement age, your benefits…
How early can I begin receiving Social Security retirement benefits?
Answer: You can get a reduced benefit as early as age 62. The 1983 Social Security Amendments raised the full retirement age for people born in 1938 and later, but it did not change the minimum retirement age. Source: The Jackson County…
My husband doesn’t have enough work credits to qualify for Social Security retirement benefits. Can he qualify on my record?
Answer: A spouse receives one-half of the retired worker’s full benefit unless the spouse begins collecting benefits before full retirement age. If your husband begins collecting benefits based on your Social Security record before he reaches full retirement age (age 65…
What is a Social Security “credit”?
Answer: During your working years, you earn Social Security credits based on how much you earn in wages. The amount of earnings you need for one credit rises as average earnings levels rise. In 2014, you receive one credit for every…