U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-20-2015, 12:06 PM
 
71,490 posts, read 71,674,131 times
Reputation: 49074

Advertisements

Reply With Quote Quick reply to this message

 
Old 04-20-2015, 06:53 PM
 
Location: Cape Elizabeth
424 posts, read 387,043 times
Reputation: 745
Quote:
Originally Posted by ExNooYawk View Post
OKAY, I THINK I'VE GOT IT.

My spouse is still alive, which is good because I still like him. He started collecting SS at his FRA.

I can collect my own SS benefits as early as age 62, right? We can get both at the same time.

Then I can switch to Spousal Benefit at age 66 (my FRA) assuming my old man is still kicking, which would be good because I will probably still like him. The SB would be half of what he is receiving and we can receive both at the same time.

When the sad time arrives and he passes away, I can then file for the amount he was getting and my spousal benefit will be discontinued. If he passes away before my FRA, I can keep my own SS until reaching my FRA and apply for widow's benefits, which would be the full amount he was receiving.

Right?

At present, he is 73 and I am 60. His health isn't great and we both assume he will 'go' before I do. If I should happen to die first, nothing for him changes. He collects the same benefits he has been collecting all along.

Right?
Well, yes, to some and no to others.

Here is part of what I wrote to you previously:

Now, if you decide to collect when you are 62, you not only are due your own, but you are due benefits as his spouse. He filed first. I am going to assume the $1800.00 is after Medicare is deducted, so I will make his "gross SS" $105.00 more, or $1905.00.

If you do decide to collect your own at 62, you get a combined retirement/spousal at age 62 of $749.00.

That is the way SSA pays when he files first, and you are due some more on his, and you are filing for retirement on your own.

Now, the only way you can get the true 1/2 of your husbands or $952.00 is to not take your retirement at 62, but at 66, your full retirement age. Then you would get $825.00 of your own plus the $127.00, which is $952.00.

But, you also have another option. At 66, you can still not take your own retirement, but let it ride until age 70. You can still start at 66 to get the 1/2 of your husbands, the spousal only, the $952.00.

Then, here's what happens at 70: You get your full retirement, the $825.00, plus another 32%, with delayed retirement credits, ($264.00) plus the spousal of $127.00, for a combined benefit of $1216.00.

If your husband dies before your full retirement age, the amount he was getting is reduced for your age at the time of death. If at time of death you are full retirement age or older, you go up to 100% of what he was getting. You always keep your own, but get paid the difference from your husband's benefits.
Reply With Quote Quick reply to this message
 
Old 04-20-2015, 08:45 PM
 
Location: Saint Johns, FL
1,192 posts, read 941,013 times
Reputation: 1267
Quote:
Originally Posted by ExNooYawk View Post
Okay, so I GOT IT - AGAIN.

At age 62 I can file for my own SS and a percentage of my spouse's SS. He began collecting at his FRA.

When he passes away, I can file for his full amount provided I reach my FRA.

Right?
This is still wrong isn't it? If she files at 62 she is deemed to have filed for Spousal Benefits early, and therefore when her husband passes away the amount she gets will still be reduced. Like 75%?
Reply With Quote Quick reply to this message
 
Old 04-20-2015, 09:59 PM
 
Location: Cape Elizabeth
424 posts, read 387,043 times
Reputation: 745
Quote:
Originally Posted by Newporttom View Post
This is still wrong isn't it? If she files at 62 she is deemed to have filed for Spousal Benefits early, and therefore when her husband passes away the amount she gets will still be reduced. Like 75%?
No, a widow, who becomes a widow, past her own FRA, is due 100% of what her husband was receiving, if it is more than her own. If the husband took a reduced benefit, she is due his reduced benefit, or 82.5% of his full amount, whichever is greater.

Let's say the worker born 1938 or earlier began collecting at 62 and dies at age 82. His widow is 78. She would get 2.5% more than the benefit he was receiving, because he was only getting 80%.

It comes into play the other way as well. If the worker delayed past FRA, and is getting delayed retirement credits, his wife, does not get the benefit of those while collecting a spousal benefit.

But, when the worker dies, his widow, if past her own FRA, goes up to 100% of what her husband was receiving, which includes his delayed retirement credits.

So, don't confuse spousal (life) benefits with survivors, (death) benefits.

In the original ExNewYorker's post, her husband is much older and already receiving his own full amount. If his wife applies for her own benefits at 62, or thereafter, but before her FRA, she is deemed to also be filing as his wife, and yes, her own retirement is reduced, and the spousal portion is reduced. But, if he passes, and she is over her FRA, she will go to 100% of his amount.

However, they have a big age difference, so in their case, she may not be over FRA when he dies. If she is not, his full amount is reduced for her age at the time of his death. It is a different reduction factor than a worker or a spouse.
Reply With Quote Quick reply to this message
 
Old 04-21-2015, 01:24 AM
 
71,490 posts, read 71,674,131 times
Reputation: 49074
if a widow files between 60-and 61 the floor is her husbands full x.71 . it becomes x.81 at 62 or older.

note though, there is no additional increase after 62 so if a widow waits longer than 62 there is no added benefit if she is hitting this floor .

best thing in many cases may be to collect her own from 60-61 and then file for survivor at 62 .
Reply With Quote Quick reply to this message
 
Old 04-21-2015, 05:00 AM
 
Location: SW Corner of CT
1,948 posts, read 1,534,099 times
Reputation: 2438
Hijack for another quick question......My FRA is 67.....if I collect at 62, and my Wife at the time is 59, can she start collecting on half of my benefit....we are considering getting out early. If she cannot collect anything at 59, then I guess we'll wait till I'm 65, and then she'll be 62.
Reply With Quote Quick reply to this message
 
Old 04-21-2015, 05:16 AM
 
Location: RVA
2,164 posts, read 1,264,598 times
Reputation: 4451
No. She cant collect anything until she is 62. Then it will be more like 75% of 1/2 of your FRA, assuming she has none of her own. She has to wait until 67 to get fully 1/2 of your FRA.
Reply With Quote Quick reply to this message
 
Old 04-21-2015, 07:10 AM
 
Location: SW Corner of CT
1,948 posts, read 1,534,099 times
Reputation: 2438
Thanks ^^
Reply With Quote Quick reply to this message
 
Old 04-21-2015, 10:11 AM
 
Location: Cape Elizabeth
424 posts, read 387,043 times
Reputation: 745
Quote:
Originally Posted by ExNooYawk View Post
Okay, so I GOT IT - AGAIN.

At age 62 I can file for my own SS and a percentage of my spouse's SS. He began collecting at his FRA.

When he passes away, I can file for his full amount provided I reach my FRA.

Right?
Yes!
Reply With Quote Quick reply to this message
 
Old 04-21-2015, 02:14 PM
 
739 posts, read 1,609,812 times
Reputation: 811
Quote:
Originally Posted by mathjak107 View Post
Thank you, Mathjak!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top