Social Security Quiz (55, divorce, divorced, spouse)

[elliotgb]

1. True or False? Social Security retirement benefits are based on my earnings history, so I’ll receive the same monthly benefit amount no matter when I start collecting.
2. True or False? If my spouse dies, I will continue to receive both my own benefit and my deceased spouse’s benefit.
3. True or False? I must be a U.S. citizen to collect Social Security retirement benefits.
4. True or False? Under current Social Security law, full retirement age is 65.
5. True or False? I can continue working while collecting my full Social Security retirement benefits – regardless of my age.
6. True or False? If I file for retirement benefits and have minor dependent children, they also may qualify for Social Security benefits.
7. True or False? As a divorced person, I can collect Social Security retirement benefits based on my ex-spouse’s earnings history.
8. True or False? Once I start collecting Social Security, my benefit payments will never change.
9. True or False? Government workers may have their Social Security retirement benefits reduced.
10. True or False? My spouse can qualify for Social Security retirement benefits, even if he or she has no individual earnings history.

[BellaDL]

I have only recently started to look in to SS' rules. Hope that I got a passing grade ;-)

1. False. The longer you wait until the age 70, the higher the benefit
2. False. You only receive whatever the higher amount benefit.
3. False.
4. False. Full retirement age varies with age brackets. For me, it's 66. - I beat Jeb Bush on this question ;-)
5. True. You only have to pay tax on a portion of SS based on your income.
6. True.
7. True. I believe that there is a required minimum # of married years (10?) and as long as you don't remarry.
8. False. The benefit payments are adjusted for inflation.
9. True. I don't know all the details but I believe that this is the case.
10. True.

[elliotgb]

I will wait a few days and post the results.
I can send you a message with your score, though, if you like.

[reed303]

Originally Posted by BellaDL

I have only recently started to look in to SS' rules. Hope that I got a passing grade ;-)

1. False. The longer you wait until the age 70, the higher the benefit
2. False. You only receive whatever the higher amount benefit.
3. False.
4. False. Full retirement age varies with age brackets. For me, it's 66. - I beat Jeb Bush on this question ;-)
5. True. You only have to pay tax on a portion of SS based on your income.
6. True.
7. True. I believe that there is a required minimum # of married years (10?) and as long as you don't remarry.
8. False. The benefit payments are adjusted for inflation.
9. True. I don't know all the details but I believe that this is the case.
10. True.

Disagree with BellaDL's answer to #10, and #5.

Re #10, when SSA talks about "Retirement Benefits", they mean benefits on one's own record. A spouse such as in #10 may qualify for Spousal or Survivor Benefits on spouse's record, but not "Retirement". The 3 are separate categories of SS benefits.

Re #5, the correct answer is not tax related, but refers to the 2:1 offset if working for wages prior to FRA.

[elliotgb]

Originally Posted by reed303

Disagree with BellaDL's answer to #10, and #5.

Re #10, when SSA talks about "Retirement Benefits", they mean benefits on one's own record. A spouse such as in #10 may qualify for Spousal or Survivor Benefits on spouse's record, but not "Retirement". The 3 are separate categories of SS benefits.

Re #5, the correct answer is not tax related, but refers to the 2:1 offset if working for wages prior to FRA.

I sent you the correct answers.
I guess everything is open to interpretation.

[gentlearts]

I'm not sure that #7 is correct. I think a woman can still get a benefit based on her ex husband, even if she remarries.

[RiverBird]

True or false:

If one is divorced but not remarried, s/he can receive either his/her full benefit or the deceased ex's full benefit, whichever is higher.

[reed303]

Originally Posted by gentlearts

I'm not sure that #7 is correct. I think a woman can still get a benefit based on her ex husband, even if she remarries.

No, not for Spousal benefits, see Retirement Planner: If You Are Divorced
The ex-husband can be re-married, but not the ex-wife in this case.

Maybe, in the case of Survivor's benefits. See http://www.ssa.gov/planners/survivors/ifyou3.html where it says: " Note: If you remarry after you reach age 60 (age 50 if disabled), the remarriage will not affect your eligibility for survivors benefits."