SS and retirement question

[smstonypoint]

Hopefully it will be a LONG TIME before you can answer that question!

That's my objective.

Steve

 

[smstonypoint]

If you haven't yet applied for SS and served in the military anytime between 1957 through 1967, start looking for your DD-214 form. You need to provide a copy of that form to the SSA in order to obtain extra credits.

From Retirement Planner: Special Extra Earnings for Military Service

If your active military service occurred

From 1957 through 1967, we will add the extra credits to your record when you apply for Social Security benefits.

JDgreen227 mentioned withholding -- you can download the W4-V form here: Form W-4V, Voluntary Withholding Request.

Steve

 

[Ken]

That's my objective.

Steve

Steve My Father died in our home and his body was still in the bedroom awaiting for the coroner to arrive. and SS called to tell us to return the final check.

Would of helped to say I'm sorry instead a command.
ken

 

[smstonypoint]

Steve My Father died in our home and his body was still in the bedroom awaiting for the coroner to arrive. and SS called to tell us to return the final check.

Would of helped to say I'm sorry instead a command.
ken

That's amazing.:confused2: How does the SSA learn of the death of a SS recipient?

My wife and I served as the executors of our respective mothers' estates. Both had direct deposits of their SS benefits. I don't recall the exact timing of the transactions, but their bank accounts were soon debited for their last SS benefits.

Steve

 

[Tractor Seabee]

A couple points:
3. If one of you worked for the federal gov't under the, civil service retirement system instead of FERS, you will get penalized unless you have 30 years of "significant" earnings under SS. They will take hundreds of $$ right off the top. Calculating exactly how much they take is hard to find on the SS website, but it's there.

I believe if you check deeper you will find it is 35 years. If you have more than 35 yrs they average the highest 35. If you have less than 35 yrs each of those years becomes a 0 in the equation. Those 0s can really skew the equation. They then average the the 35 years and that is the figure they calculate the annuity on. I had 26 years CSRS along the line. For many of those years I also had SS credit as I was in the Naval Reserve for 33 years. About 60% of those years my military pay became a satisfactory SS year. I also bought my active military time into the CSRS so earned credit there also for those same years. We had an IRS agent in the reserve unit who had made a deep study of the system and his info turned out to be valid. I started SS at 65 but continued working at pretty good pay so I knocked out all those 0s plus replaced many low pay years with high pay years. I went from a $600/mo annuity at 65 till now I am at $1700/month. Still working part time and get a recomp every year of the SS. So; I have working years that count on 3 federal retirement programs. Young folks today need to know this stuff so they can make informed decisions as life rolls on. Unfortunately; most folks do not find this stuff out till it is too late to capitalize on these things. Retirement annuities never are enough; seems like. Another example is the average person does not realize Medicare is means tested based on your annual 1040 income from all sources.

Ron

 

[Ken]

That's amazing.:confused2: How does the SSA learn of the death of a SS recipient?

My wife and I served as the executors of our respective mothers' estates. Both had direct deposits of their SS benefits. I don't recall the exact timing of the transactions, but their bank accounts were soon debited for their last SS benefits.

Steve

Call 911 report a home death. 1st responder is the police asking questions then coroner to confirm death and location where the body is to be sent.

Some where in this first reporting the Soc. Sec. is notified and financial accounts are frozen until every jot and tittle is accounted for.
ken

 

[Jstpssng]

Call 911 report a home death. 1st responder is the police asking questions then coroner to confirm death and location where the body is to be sent.

Some where in this first reporting the Soc. Sec. is notified and financial accounts are frozen until every jot and tittle is accounted for.
ken

A friend's father passed away after a long illness.. within hours the State police were there to collect his unused pain meds. (i.e., Oxycontin)
In this case it may have saved the family some additional grief, dealing with ne'er do wells trying to cash in on those same drugs.

 

[TomSeller]

Steve My Father died in our home and his body was still in the bedroom awaiting for the coroner to arrive. and SS called to tell us to return the final check.
Would of helped to say I'm sorry instead a command.
ken

A friend's father passed away after a long illness.. within hours the State police were there to collect his unused pain meds. (i.e., Oxycontin)
In this case it may have saved the family some additional grief, dealing with ne'er do wells trying to cash in on those same drugs.

Holy Cow !!

 

[sodamo]

I started collecting at 62, absolutely no regrets. I did so and invested, but slightly differently, putting that money to paying down the mortgage.

My wife (61) is on SS disability. I spent some time on the web site trying to figure out how & when that converts to regular SS and what amount. I'm guessing when she turns 66.

Now when I read about the spousal benefit, I wonder if maybe she could draw that at 66 and let her own grow until age 70 as her disability is just about 50% on my current benefit.

Anyone any insight?

David Sent from my iPad Air using TractorByNet

 

[MacLawn]

sod, that refers back to my original question: if ye wife takes early (SSDI, her own, etc.) can she later claim the 50% of husband's at her full age, aka 66. It seems she can, according to wha' someone answered here. But before we do it, we'll check at SS office.