Re: Soc Sec Benefits Question

On Wed, 07 Jun 2006 14:52:20 GMT, Rita <nitany_98@xxxxxxxxx> wrote:

On Wed, 07 Jun 2006 13:19:14 GMT, jimstevens
<jimstevens@xxxxxxxxxxxxxxxxx> wrote:

On Wed, 07 Jun 2006 12:26:05 GMT, Rita <nitany_98@xxxxxxxxx> wrote:

On Wed, 7 Jun 2006 07:08:57 -0500, "Harry Thompson" <me@xxxxxxxxxxx>
wrote:


"Thumper" <jaylsmith@xxxxxxxxxxx> wrote in message
news:222c829d58ou41qs3qqca9kfdq7u0oo69d@xxxxxxxxxx
On Tue, 6 Jun 2006 16:52:51 -0500, "Harry Thompson" <me@xxxxxxxxxxx>
wrote:


"Bob" <vrbobs@xxxxxxxxxxxxx> wrote in message
news:1149621097.583738.205850@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
I will be retiring next month at age 65. I will be getting $1.600.00
per month from Soc Sec. My wife, who is 62, will also start to take
Soc Sec at that time. She will be using my work history for her
earnings. We are wondering if she will get half of my benefits
($800.00), or since she is retiring at age 62, will there be a 20%
reduction in her Soc Sec payment ($600.00) TIA


This is from the SSA website. I think it answers your question:

"When you apply for reduced retirement benefits, we will check to see if
you
are eligible for both your own retirement benefits and for benefits as a
spouse. If you are eligible for both, we always pay your own benefits
first. If your benefits as a spouse are higher than your retirement
benefits, you will get a combination of benefits equaling the higher
spouse
benefit. If you choose to receive a reduced benefit before full
retirement
age, you are not entitled to the full spouse's benefit rate upon reaching
full retirement age. A reduced benefit rate is payable for as long as you
remain entitled to spouse's benefits."

In other words, your wife will get the higher benefit, whichever that
turns
out to be. The "you" here would be your wife.


She will take a reduced benefit as she is not at full retirement age.
Thumper

As I read it, she will get reduced benefits but the reduced benefits are
derived either from her own or her husband's, whichever is the higher.

It's confused wording all right.

Also, important to note in all the confusion, that the reduced
benefits continue even after one reaches age 65. Not just for
the period between ages 62 and 65.

To be sure can you clarify?

Assume wife begin drawing SS at 62 at her reduced rate on husband's
income. He does not draw yet.

Husband later dies.

Can wife draw SS at whatever his rate would have been at 65/66 or is
she stuck with lower rate since she began at 62???

We have a friend in these circumstances.

Thanks

I think it best to phone Social Security with all the details. There
are people available to answer questions, or stop in at a SS office
might be even better so one can make sure one gets the answer
right for one's circumstances.

It is my understanding that at a husband's death, the wife's benefit
amount increases but perhaps only to the same percentage of his
benefit that she receives on her own benefit for early retirement.
Some penalty for early retirement would remain -- I think.

But I would not want anyone to rely on that.


She can only get full retirement benefits if SHE is at full retirement
age when she starts receiving benefits. My wife is 17 years younger
than me. If I die at 70 after commencing my benefits the checks stop
until she reaches 62 when she can apply for a reduced benefit based on
my benefits. The only way she can get full benefits from my benefit
is to wait until she is at full retirement age.

It's just like me. If I start at 62 they don't raise it when I reach
full retirement age.

What I'm worried about is her loss of my nearly 2 grand a month for
maybe 15 years. We have to remember that as I ease into retirement.
She will also lose my company sponsored health care which could cost
her in excess of $10,000 a year.

Remember also that if a spouse remarries before age 60 they cannot
use the first husbands SS benefit rate for her own.
Thumper
.

Relevant Pages

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  • Re: Soc Sec Benefits Question
    ... My wife, who is 62, will also start to ... , or since she is retiring at age 62, will there be a 20% ... "When you apply for reduced retirement benefits, ... If you choose to receive a reduced benefit before full ...
    (soc.retirement)
  • Re: Soc Sec Benefits Question
    ... My wife, who is 62, will also start to take ... , or since she is retiring at age 62, will there be a 20% ... "When you apply for reduced retirement benefits, ... If you choose to receive a reduced benefit before full ...
    (soc.retirement)
  • Re: Soc Sec Benefits Question
    ... My wife, who is 62, will also start to take ... "When you apply for reduced retirement benefits, we will check to see if ... If you choose to receive a reduced benefit before full ... age, you are not entitled to the full spouse's benefit rate upon reaching ...
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