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Old 12-04-2018, 07:02 PM
 
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Actually, I'm referring to my husband. He will turn 66 in February, and is currently working full-time. Can he collect SSA retirement without first quitting his job? I've read SSA information, but its not quite clear---at least not to me It sounds like one can retire, collect SSA, and go back to work FT and still collect SSA without penalty. Ok, I get that.


But can he just start drawing his SSA benefit starting next February, which will be his FRA, without quitting his present job AND continue working at that job? Or does one need to quit work first to start collecting SSA?
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Old 12-04-2018, 07:36 PM
 
Location: Out West
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Once your husband reaches full retirement age, he can earn all he wants to while collecting benefits. You can read about that from the Social Security webpage here:

https://www.ssa.gov/planners/retire/whileworking.html

About halfway down the page you will see this:

"When you reach full retirement age:

Beginning with the month you reach full retirement age, your earnings no longer reduce your benefits, no matter how much you earn."
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Old 12-04-2018, 07:39 PM
 
Location: OH>IL>CO>CT
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He can just keep working AND file for and receive SS Retirement benefits. There is no connection between the two.

The key here is FRA age. Prior to FRA, as early as 62, he could have filed, but there would have been a reduction in FRA benefit, based on earnings.

After FRA, he can earn as much as he wants, for as long as he wants, with no reduction. BTDT :-)

See https://www.ssa.gov/planners/retire/...orking.html#h1

"When you reach full retirement age:
  • Beginning with the month you reach full retirement age, your earnings no longer reduce your benefits, no matter how much you earn."
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Old 12-04-2018, 07:47 PM
 
Location: Idaho
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What PartIrish says is correct, but if you and your husband can delay claiming, his monthly benefit will increase each month he delays. But if you two really need the money now, then you'll have to file for benefits. Just be aware that your monthly benefit will be fixed at that amount, (plus any yearly COL increases).
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Old 12-04-2018, 07:47 PM
 
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Thanks, folks!


This sounds too good to be true! DH reaches FRA next Feb 14. He is currently employed FT with benefits at a job he likes, low-stress. He's in overall good health. So, as I see it----


Next year, 2019. he just keeps working


Come March, 2019, he also collects his full SSA benefit.


Forgive my ignorance, but I always thought one had to QUIT work in order to apply for SSA benefits Guess not!


Also, as I understand, I will be eligible for spousal benefits, which would be about 1/2 his benefit, or my full benefit, depending on which is the larger---I get the larger amount.


Am I catching on ok here?


I do plan to make an appt for us with SSA soon to discuss all these details, but seems its all in our favor. Thanks, CD-Friends
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Old 12-04-2018, 07:57 PM
 
Location: Idaho
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On the delay . . . to give you some guidance, I'll relate my own personal experience.

I retired at age 65 1/2. No real reason for that date, except for personal factors. My FRA is age 66, but I have yet to claim SS benefits, (I am currently 67 1/3). My personal plan is to start SS benefits next February or March, at which time I will be 67 1/2.

By waiting from my FRA till next Feb or Mar, my yearly SS income will have increased about $3,800 per year.
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Old 12-04-2018, 08:01 PM
 
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Quote:
Originally Posted by volosong View Post
On the delay . . . to give you some guidance, I'll relate my own personal experience.

I retired at age 65 1/2. No real reason for that date, except for personal factors. My FRA is age 66, but I have yet to claim SS benefits, (I am currently 67 1/3). My personal plan is to start SS benefits next February or March, at which time I will be 67 1/2.

By waiting from my FRA till next Feb or Mar, my yearly SS income will have increased about $3,800 per year.


Good points to consider
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Old 12-04-2018, 08:09 PM
 
9,699 posts, read 15,905,478 times
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Quote:
Originally Posted by volosong View Post
On the delay . . . to give you some guidance, I'll relate my own personal experience.

I retired at age 65 1/2. No real reason for that date, except for personal factors. My FRA is age 66, but I have yet to claim SS benefits, (I am currently 67 1/3). My personal plan is to start SS benefits next February or March, at which time I will be 67 1/2.

By waiting from my FRA till next Feb or Mar, my yearly SS income will have increased about $3,800 per year.
Ok, but in our case, he's still working FT, so we would have to consider those earnings for another 1-2 years, as opposed to the increase he would get in SSA benefits..... He currently makes 94K/year.
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Old 12-04-2018, 09:52 PM
 
Location: Saint Johns, FL
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MaryLee, it sounds like you are eligible to collect next year also. There may be a way better strategy to consider. Because of your husband's age, he is one of the few still eligible to do a"Restricted Application".

In that scenario you file for SS. Then when he turns 66 he files for half of your Age 66 Social Security. His own SS continues to increase till he claims it (usually at age 70).

When one spouse earns way more than the other, it's best to let that one increase as much as possible, because it's the amount the surviving spouse ends up with.

Do you have any idea how much your age 66 Social Security is?

I literally signed up for this in the last 10 days.
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Old 12-04-2018, 10:30 PM
 
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Quote:
Originally Posted by Newporttom View Post
MaryLee, it sounds like you are eligible to collect next year also. There may be a way better strategy to consider. Because of your husband's age, he is one of the few still eligible to do a"Restricted Application".

In that scenario you file for SS. Then when he turns 66 he files for half of your Age 66 Social Security. His own SS continues to increase till he claims it (usually at age 70).

When one spouse earns way more than the other, it's best to let that one increase as much as possible, because it's the amount the surviving spouse ends up with.

Do you have any idea how much your age 66 Social Security is?

I literally signed up for this in the last 10 days.
I think my SSA would be something like $940 at 66. I am currently 64.


You say you just did this? Isn't that called file and suspend? Or am I confusing that with something else? I thought File & suspend ended last year?
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