In today’s column, how many years a couple must get married before they are eligible for survivor benefits in the other record, how the application month affects when late retirement payments are paid, and which of the months Take up the question about whether benefits will be paid in a week. Larry Kotlikoff is a professor of economics at Boston University and Economic Security Planning, Inc. Founder and president of.
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Are Social Security Survivor Benefits Really Available in Less Than 10 Years of Marriage?
Hi Larry, my husband and I are both at SSA. We were 73 years old and got married in 2017. One said he had to get married for at least 10 years to benefit the widow from his records, while others said less. The year we need to get married. which one is correct?Thank you, Karen
Hi Karen, if you are currently married when your husband died, you do not have to be married for 10 years to qualify for the widow’s benefits. You must be married for at least 9 months to meet the widow’s benefits marriage requirements. The 10-year requirement applies to the benefits of divorced spouses and divorced survivors.
The surviving members of the couple can pay the total benefit rate up to the higher of the two benefit rates. Therefore, if your husband dies before you and his benefit is greater than your benefit, you may be paid a widow’s benefit equal to his amount in lieu of your retirement benefit. I have.
Technically, social security will continue to pay you your benefits and partial widow benefits, but the two amounts will result in a higher benefit rate for your husband.Best, rally
Can I get all DRCs on my first check if I submit it in the month I turned 69?
Hello Larry, thank you for your help. I will be 69 years old in October 2021. If I apply for social security to come into effect in October, do I have to get all DRCs on my first check, or do I have to wait until December 2021 to apply and get all DRCs for the year? ..Thank you, Ahmed
Hi Ahmed, if you claim a valid benefit in either October or December, you will not be able to get all late retirement benefits (DRC) on your first payment. The only way to get all the DRCs you earn on your first payment is to claim benefits in January, or in the month you turn 70.
If you start to make a profit between FRA and 70, Social Security will initially only offer DRC credits earned by December of the year before the year you start collecting. DRCs earned in the year the lottery begins will then be credited for payment in January of the year following the year in which the benefit was claimed.
I encourage you to consider using my company’s software Maximize My Social Security or MaxiFi Planner to thoroughly investigate all options and determine the best strategy for maximizing profits. Social security calculators provided by other companies and nonprofits may provide appropriate suggestions if created with the utmost care.Best, rally
Can I change my direct deposit from the 3rd Wednesday to the 2nd Wednesday of every month?
Hi Larry, I receive my social check by direct deposit in the 3rd week of every month. Can I change my direct deposit to the second week of every month? If so, how do I do this?Thank you, Stephen
Hi Stephen, the day of the month you receive your monthly benefits is not an option. The payment date is determined by your date of birth. People born in the first 10 days of the month are usually paid social security benefits on the second Wednesday of the month. Those born between the 11th and 20th of the month will be paid on the 3rd Wednesday of the month. People born after the 20th of the month are usually paid on the 4th Wednesday of the month.
However, it must be made clear that the birthday used is the birthday of the worker in the account for which the benefit will be paid. Therefore, if someone collects only assistance (spouse, child, etc.) or survivor benefits, the payment date is determined by the birthday of the person who has the account to collect the benefits.
Some people are still paid social security benefits on the third day of the month, but if they start receiving benefits before May 1997, or in addition to social security benefits, supplementary security income Only if you receive (SSI).Best, rally