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Old 07-12-2011, 09:36 AM
 
Location: Northern panhandle WV
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Quote:
Originally Posted by mathjak107 View Post
It does say if the wife files at 66 then at 70 the wife gets a bump up based on the husbands work record as long as the husband files at 70. unless im reading it wrong.


""It is also possible for both spouses to receive spousal benefits on each other’s record. For example, take a couple in which the wife is the lower-earning spouse, and the husband is two years older; full retirement age for both is 65. The husband’s Social Security benefit will be considerably higher than hers if he delays receiving benefits on his own record until he reaches age 70; likewise, the wife’s spousal benefits on his record will be higher if he delays until age 70. The wife can elect to take Social Security benefits on her own work record at her full retirement age of 65, when her husband is age 67. At the same time, the husband can start taking Social Security benefits based on the wife’s work record. He will receive benefits valued at 50% of the wife’s benefit. He will delay receipt of benefits on his own work record, receiving delayed retirement credits, and will receive a higher benefit when he does start receiving benefits on his own work record. In our example, let’s say the wife’s benefit on her own record is $800 per month; then the husband would receive $400 per month in spousal benefits. In most cases, both husband and wife should sign up for Medicare at age 65. When the husband reaches age 70, he applies for Social Security based on his own work record and receives, for example, $2,000 per month. Because his own benefits are higher than his spousal benefit, he will receive his own higher benefit, and he will no longer receive the spousal benefit. The wife can then apply for additional benefits based on the husband’s work record. She will receive her own benefit of $800 per month first, then spousal benefits of $200 per month to bring her total benefit amount to the spousal benefit limit of $1,000 per month 50% of the husband’s benefit). If the husband dies first, then the wife’s survivor’s benefit will increase to $1,200 per month; combined with her own benefit"
There is something wrong with this because I have been told 3 times and have actually seen it on the SS website that there is NO situation where the wife's benefit claiming on spouses record will ever be based on spouses earnings increase past FRA. If he/she files at FRA and then suspends and waits to collect till 70 or if they just don't file till 70 only the spouse that is 70 is going to get the higher benefit. The other spouses portion is never more than 50% of the spouses FRA benefit never the extended, UNTIL the Spouse, on whose record the benefit is paid. dies at which point the remaining spouse collects what the deceased was receiving at the time of death.
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Old 07-12-2011, 10:26 AM
 
106,238 posts, read 108,237,907 times
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Ill see what i can find on the ss site. It looks like both are eligible to run on spousal benefits at 66 and then at 70 change to their own. here is another example

http://oasthook.com/resources/elder-...-benefits.html

Last edited by mathjak107; 07-12-2011 at 11:00 AM..
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Old 07-12-2011, 11:02 AM
 
Location: Near a river
16,042 posts, read 21,937,686 times
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Quote:
Originally Posted by mathjak107 View Post
Ill see what i can find on the ss site. It looks like both are eligible to run on spousal benefits at 66 and then at 70 change to their own. here is another example

Social Security Spousal Benefits
It is my understanding that at whatever age you file that is it, for life. Perhaps that's not true.

There has also been a SS payback option (collect early, pay back, collect more at FRA) that I think they're trying to end. Your interpretation of the SS info would be welcome.
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Old 07-12-2011, 11:09 AM
 
106,238 posts, read 108,237,907 times
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nah, thats only true if you file early.... at full you can manipulate spousal and your own with file and suspends.

im just learning all this stuff so im still feeling my way around.

Last edited by mathjak107; 07-12-2011 at 11:31 AM..
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Old 07-12-2011, 12:30 PM
 
Location: Baltimore, MD
5,306 posts, read 5,984,594 times
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Here's one "official" SSA link that mentions spouses do not receive the delayed retirement credits:

http://www.ssa.gov/retire2/yourspouse.htm. See, "Note: The benefits for your spouse do not include any delayed retirement credits you may receive."

The regulations state that a spouse may be eligible to receive up to a maximum of 50% of the worker's Primary Insurance Amount (PIA). The PIA is the amount a worker would receive if he retired at his full retirement age. Early or late retirement can change the amount of benefits actually received by the worker, but not the PIA itself. It's the PIA that determines spousal benefits. Clear as mud?
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Old 07-12-2011, 12:43 PM
 
231 posts, read 494,455 times
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No wonder social security customer service attendants can't answer on the 1st try. We have four pages of comments before we think we have the correct answer. lol
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Old 07-12-2011, 12:57 PM
 
106,238 posts, read 108,237,907 times
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Quote:
Originally Posted by lenora View Post
Here's one "official" SSA link that mentions spouses do not receive the delayed retirement credits:

http://www.ssa.gov/retire2/yourspouse.htm. See, "Note: The benefits for your spouse do not include any delayed retirement credits you may receive."

The regulations state that a spouse may be eligible to receive up to a maximum of 50% of the worker's Primary Insurance Amount (PIA). The PIA is the amount a worker would receive if he retired at his full retirement age. Early or late retirement can change the amount of benefits actually received by the worker, but not the PIA itself. It's the PIA that determines spousal benefits. Clear as mud?
To be honest i dont know enough to fully understand whats correct at this point... im still trying to sort this out as i learn and i pass it on to you guys .

this is something that we need to do our own reasearch on because its so confusing. THE EXAMPLE LOOKS LIKE WIFE TOOK HER OWN AT 65. HUSBAND TOOK 1/2 HERS UNTIL 70. AT 70 HUSBAND FILED FOR HIS OWN, WIFE SOMEHOW GOT HER OWN STEPPED UP TO MATCH 1/2 HUSBANDS AGE 70 LEVEL.

Last edited by mathjak107; 07-12-2011 at 02:01 PM..
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Old 07-12-2011, 03:27 PM
 
Location: Baltimore, MD
5,306 posts, read 5,984,594 times
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Quote:
Originally Posted by mathjak107 View Post
To be honest i dont know enough to fully understand whats correct at this point... im still trying to sort this out as i learn and i pass it on to you guys .

this is something that we need to do our own reasearch on because its so confusing. THE EXAMPLE LOOKS LIKE WIFE TOOK HER OWN AT 65. HUSBAND TOOK 1/2 HERS UNTIL 70. AT 70 HUSBAND FILED FOR HIS OWN, WIFE SOMEHOW GOT HER OWN STEPPED UP TO MATCH 1/2 HUSBANDS AGE 70 LEVEL.
Looks wrong to me I may try sending the firm an email, but I doubt I'll get a response.

BTW - I just sent you a DM with a link to another site that should help you sort all of this out. I'd post it here, but I'm sure it's a violation of C-D's TOS.
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Old 07-12-2011, 03:39 PM
 
106,238 posts, read 108,237,907 times
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i tried the link but it just brought me to pages and pages that the poster had . thanks for the attempt. can you summerize?

i found this which sounds sort of like it. in this one both husband and wife manipulate their own and spousal benefits.

this stuff makes my hair hurt!

http://www.socialsecuritychoices.com...andsuspend.php

Last edited by mathjak107; 07-12-2011 at 03:55 PM..
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Old 07-12-2011, 08:22 PM
 
Location: Baltimore, MD
5,306 posts, read 5,984,594 times
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Quote:
Originally Posted by mathjak107 View Post
i tried the link but it just brought me to pages and pages that the poster had . thanks for the attempt. can you summerize?

i found this which sounds sort of like it. in this one both husband and wife manipulate their own and spousal benefits.

this stuff makes my hair hurt!

Maximize Benefits with File and Suspend | Social Security Choices
The two scenarios presented look right to me. You will notice that the wife ended up with 50% of the husband's PIA, not 50% of the benefit he earned at age 70.

My link addressed many scenarios. I saw a couple that confirmed the above scenario. It also confirmed that you CANNOT receive spousal benefits before FRA if you are eligible to receive a greater amount on your own record. Once you apply pre-FRA, SSA will automatically calculate benefits on both yours and your spouse's record. If your benefit will be higher than 1/2 of your wife's, you will receive reduced benefits on your record alone. Forever. End of game.

But, if you wait until FRA, you have a choice. Apply for spousal benefits or apply for your own. Obviously, if you apply for spousal benefits and delay drawing benefits on your own record, you will eventually receive the delayed retirement credits.
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