Comments on: Social Security Spouse Benefits – Key Concepts

By: john host

john host — Fri, 05 Mar 2010 16:52:22 +0000

I am a sixty one year old male and will be sixty two in april of this yr. My wife past away three years ago. She also worked but I don’t know what her acumative ss credit is. how can I find that out? and can I file on her’s if she had enough credits and then refile on mine when I reach my retirement age at sixty six and three months

By: Mr. GoTo

Mr. GoTo — Sat, 20 Feb 2010 16:01:09 +0000

Linda: If you claim a spousal benefit before your full retirement age, it will be less than the maximum which is 50%. The SSA site has a table where you can calculate the amount. I do not know how the windfall provision may affect that.

By: Linda

Linda — Wed, 17 Feb 2010 22:39:40 +0000

My husband is 66 and employed and began receiving social security benefits when he reached his full retirement age of 66. I am 65 and also employed. I am covered under a state pension plan and my social security benefit will be reduced according to the windfall provision formula. I plan to continue working and file for SS benefits when I reach 66, as they will not be reduced until I begin receiving my state pension benefit. Can I claim the 50% spousal benefit right now and still work or do I have to wait until I’m 66? (The 50% spousal rate is greater than my own benefit.)

By: Gladi8or

Gladi8or — Mon, 15 Feb 2010 18:04:58 +0000

Yep! Further reasearch shows you are right.

However, another plan (the “62/70 strategy”) is almost as good:
She (the lesser wage-earner) starts drawing on her account at 62. At 70, I apply for mine (about 148% of what it would be at 62…plus COLAs!) and she gets a much larger spousal benefit because I waited. If, at any point in the plan, we find we can’t make it without both benefits, I apply; and we still get a higher rate than if we’d have started out on just mine plus spouse. Not what we’d get at 70, but still more. Google “social security 62/70″ for better explanations.

By: Gladi8or

Gladi8or — Mon, 15 Feb 2010 17:49:18 +0000

I’m sorry for your loss.

And the answer is no. Since your own benefit is greater than any “survivor” benefit on her account, that’s what you’ll get. You don’t get both.

By: steve taylor

steve taylor — Mon, 08 Feb 2010 19:22:33 +0000

My wife worked for 30 years. She died at age 57. will i ever see any of her benifit. I make more than she did and woulod receive more at age 65. I am also 57

By: Mr. GoTo

Mr. GoTo — Mon, 08 Feb 2010 15:34:59 +0000

Yes I believe it is too good to be true. According to my view of the situation, if you claim a spousal benefit you are telling the SSA that you have “retired” and are now claiming SS retirement benefits. The SSA will look to see if the benefit from your own earnings record is higher than the spousal benefit and if so, pay you that. You will not get the increased benefit from delaying until age 70.

By: Gladi8or

Gladi8or — Mon, 08 Feb 2010 15:21:42 +0000

My wife and I are both 60. We will both be eligible for SS at 62. Her income is about 1/3 of mine. Let me pose this scenario:

At 62, my wife will draw her SS with me getting the spousal benefit on her account. This will result in a $500/mo shortfall over what we would have if I started drawing then. We will make up the difference by drawing an extra $500/mo from our nestegg. The lost interest will be far less than the 6%/yr gain I’ll get in SS benefits.

At 70, we’ll stop my wife’s SS and start mine, with her as “spouse”. At that time my SS will be nearly TWICE what it would have been if I started it at 62…and will remain that way for my life, and then hers as survivor. After those first 8 years, our draw from the nestegg will drop dramatically; leaving it pretty much as an emergency fund and a hedge against inflation.

This sounds too good to be true. But IS it?

By: Mr. GoTo

Mr. GoTo — Tue, 02 Feb 2010 15:45:34 +0000

Richard: Your wife will be entitled to a spousal benefit but not until she reaches 62. It will be a reduced benefit if she claims it before full retirement age (66). The percentage can be determined from tables available at the SSA website.

By: Bob

Bob — Tue, 02 Feb 2010 15:40:50 +0000

Hi Richard,
Your wife is indeed entitled to a spousal benefit but not until she is at least 62. I’m not sure if it will be 50% of yours or if it is reduced. Contact Social Security for the estimated amou8nts.

Note also that she is also entitled to a surviver benefit equal to 100% of yours upon your death (but not sure if she still needs to be at least 62 to collect).