The GPO reduces the Social Security spousal supplement paid to a retiree with a non-covered pension by two thirds of the pension’s amount. …the Social Security Fairness Act would repeal the Government Pension Offset and restore the full quarter-million dollar lifetime windfall… It is one ...
Retirees can boost their Social Security benefits by delaying, strategizing spousal claims and optimizing income sources. Kate StalterJan. 13, 2025 Maximum Social Security Benefit in 2025 Some people haven't received all their Social Security benefits, even though they paid into the system....
"Working more at your current job or picking up a side gig is a great idea for increasing your cash flow to help supplement your savings," he said. Here's what to do if you spot an error on your Social Security statement. Brian O'ConnellAug. 28, 2024 How to Correc...
What if you didn’t work, and hence cannot collect Social Security, but your spouse is eligible. “That’s where the ‘spousal benefit’ comes in,” Ramey wrote. “If you’re married with little or no earnings history to speak of, you can still receive the spousal benefit, which is ha...
By exploring strategies such as delaying the receipt of benefits, leveraging spousal benefits, engaging in financial planning, and seeking professional guidance, individuals can proactively enhance their Social Security payments and secure a more robust financial foundation. These strategic approaches empower...
If you were the high earner in your family, your spouse may be relying on your earnings record for their Social Security benefits. The good news is thatspousal benefitsare entirely dependent on when your spouse claims. If your spouse waits until their full retirement age, they can receive up...
However, there was significant moderation by AS, such that the loss of a spouse was associated with worse sleep health for those who experienced a decrease in AS since the spousal loss (Slope=0.19, SE=.09, p=.03), but not for those who experienced an increase or no change in AS. ...
This paper studies how the likelihood and timing of divorce are influenced by Social Security’s 10-year rule, which provides spousal benefits to divorced people if their marriages lasted at least 10 years. Bunching analysis indicates that approximately
Like many retirees (early and otherwise), we paid no Social Security tax in 2013 (and don’t plan to ever again*.) This raised a great question on the recent post where we shared our2013 taxes. “The one downside to not paying social security tax going forward is that your payout whe...
One interesting issue is that of spousal benefits. As far as I understand, a spouse claim the higher of two options: 1: their own benefits, naturally 2: 50% of their spouse’s To be eligible for the spousal benefits he/she must have at least 10 years worth of contributions, but the ...