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Old 04-20-2016, 07:25 PM
 
15,353 posts, read 17,598,692 times
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Quote:
Originally Posted by mathjak107 View Post
i confirmed when i went to ss that between fra and 69 if you don't file in january you never recover the delayed credits not included in the years checks . you get adjusted going forward in january at the delayed credit rate but you never get back what was not included over the year in your check
Are you saying it's best to file in January (regardless of birth month), if you are filing between FRA and 69? Don't wait for your birthdate?
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Old 04-21-2016, 01:53 AM
 
71,470 posts, read 71,652,652 times
Reputation: 49032
it can be best to wait until january , or you never recover the delayed credits from the current year .

so in my example if you retired in july your aug to december checks are not at the 66-1/2 rate they are still at 66 since ss only calculates you once a year in january . comes january you will be be bumped to the 66-1/2 rate going forward but as far as those checks you got from august to december you never recover that difference between what you were paid and that 66-1/2 rate .

folks think it is retro when you get adjusted in the following january but it is not , you just never get it . all you get in january, is brought up to the the 66-1/2 level going forward , no retro on aug-dec checks you already got .

if you wait until january when ss recalculates you get paid at 66-1/2 for all your checks plus the increase from waiting until january . it can be a win/win .

but at 70 you get no more delayed credits after that so waiting from 70 on until the following january is silly .

Last edited by mathjak107; 04-21-2016 at 02:58 AM..
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Old 04-21-2016, 11:48 AM
 
485 posts, read 627,833 times
Reputation: 1013
Quote:
Originally Posted by rjm1cc View Post
If you are planning on dyeing before the 9.8 years go for it.
If you can get along with out the SS for 6 months delay and plan on living until 100.
No, I'm not planning on dyeing (dying), before the 9.8 years (??). As far as planning on living until 100, that seems even more silly.

Or do most people assume they can plan their own mortality with such fine accuracy? With a few exceptions, I don't think we get to choose all that......
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Old 04-23-2016, 05:09 PM
 
Location: Edgewater, Florida
883 posts, read 459,636 times
Reputation: 909
Take it, you could die and not get anything
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Old 04-23-2016, 06:29 PM
 
71,470 posts, read 71,652,652 times
Reputation: 49032
dead is dead , did you not get the memo ? game over!
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Old 04-23-2016, 07:14 PM
 
Location: Cape Elizabeth
424 posts, read 386,960 times
Reputation: 745
Quote:
Originally Posted by WoodyWW View Post
I know there have been a lot of these kinds of threads here, inc. a recent one, but I have a specific question or 2:

I thought that one had to wait until FRA to take (ex)-spousal benefits, but after a couple of conversations with my local SS office, apparently not. The last guy told me that if I started taking S.S. this June (applying in May), I'd get $787 a month for spousal benefits. If I wait until age 66 (in Dec.), I'd get $827 a month. I was surprised he told me that over the phone, but I had my ex's S.S. #, etc.

Both amounts would be more than I'd get under my own earnings record, even if I wait until age 70.

If my math is correct, giving up 6 months of getting $787 a month=$4722. And it would take 9.8 years of getting the extra $40 a month if I wait until age 66 to make that up. I'm thinking it's not worth it to delay & give up the $4722? Can anyone see a clear reason for me to delay until FRA? (unless I live past age 76).

BTW, I was married for just over 10 years, now divorced for over 20. I have certified copies of both the marriage cert., & divorce decree.

Anyone see any flaws in this plan? TIA for any advice......
The one sentence that stands out for me is that "$787.00 or $827.00 is more than I would get under my own earnings record, even if I wait until 70".

That raises a big red flag for me (retired SS worker with 35 years at the agency). Why is your own so low?

Did you work under non covered work - jobs at local, state or federal level or other countries where you did not contribute to the SS system? If so, do you, or will you get a pension from that job? If yes, then you are subject to Government Pension Offset, which subtracts 2/3 of the non covered pension from any amount you are due as a spouse, ex-spouse (or later as a widower).

If not, do you mind stating why your own is so low? Many zero years? SS uses 35 years in computing your benefit, so if you only have say, 16 years, the average is brought down by 19 zeros.
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Old 04-25-2016, 08:15 AM
 
Location: Central Massachusetts
4,800 posts, read 4,843,254 times
Reputation: 6377
Quote:
Originally Posted by mathjak107 View Post
it can be best to wait until january , or you never recover the delayed credits from the current year .

so in my example if you retired in july your aug to december checks are not at the 66-1/2 rate they are still at 66 since ss only calculates you once a year in january . comes january you will be be bumped to the 66-1/2 rate going forward but as far as those checks you got from august to december you never recover that difference between what you were paid and that 66-1/2 rate .

folks think it is retro when you get adjusted in the following january but it is not , you just never get it . all you get in january, is brought up to the the 66-1/2 level going forward , no retro on aug-dec checks you already got .

if you wait until january when ss recalculates you get paid at 66-1/2 for all your checks plus the increase from waiting until january . it can be a win/win .

but at 70 you get no more delayed credits after that so waiting from 70 on until the following january is silly .

So let me get this straight. Since I am a September baby and my FRA is 66.5 The best time for me to file then is Jan to collect for April. That is 3 months ahead of my FRA and they will calculate the best outcome for me?

Now to my wife who is an April baby and her and her FRA is 66 and 8 months she should wait until the following year in Jan which is a month after her FRA?

I was actually thinking that we would be best served by filing both at the same time the year I reach FRA and my wife will be about 11 months shy of her FRA.
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Old 04-25-2016, 08:29 AM
 
71,470 posts, read 71,652,652 times
Reputation: 49032
yes , january captures all after fra , before fra you don't have that issue
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Old 09-15-2016, 01:51 PM
 
Location: New York Area
15,862 posts, read 6,242,907 times
Reputation: 12307
Quote:
Originally Posted by WoodyWW View Post
No, I'm not planning on dyeing (dying), before the 9.8 years (??). As far as planning on living until 100, that seems even more silly.

Or do most people assume they can plan their own mortality with such fine accuracy? With a few exceptions, I don't think we get to choose all that......
People who are alive and well at 62 have a pretty good chance of making it to 90, if not 100. People have to plan, even if without divine foresight.
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