The Benefits Blog

How is WEP reduced benefit computed if beginning SS prior to FRA?

When calculating a Social Security benefit that is subject to the Windfall Elimination Provision (WEP) and is being taken before Full Retirement Age (FRA), the reduction is a two-step process. First, the WEP reduction amount is appli...

I have a client that is being told to repay Dec 2022 Social Security payment. He did not work in Dec 2022 (the month he began SS). The SSA 561 doesn’t seem like the right form. But I can’t find anything else. How can he apply for this appeal?

If your client is being told to repay their December 202...

My client, Jan, retired March, 2022.  She was born 9/1956.  She earned $118k Jan-March, 2022.  She is a widow and planned to collect on her husband’s benefit until she turns 70 and will collect on her own benefit.  She met with Social Security last March and was told she was approved for her husband...

What do I need to know about the 2023 Trustees report?

The Social Security Administration (SSA) recently released the 2023 OASDI Trustees Report, providing important insights into the financial status of the Social Security Trust Funds. Here are the key highlights from the report:

1. Deficit Over...

We have a client who called SSA. My primary question is how could the client be getting the exact same amount of Benefit if he files in November compared to filing at FRA this past July. To me it doesn’t make sense but she swears she called three times. Three SSA representatives, and they all said t...

I just wanted to clarify my last email and I thank you so much for your expertise and help. I have a sixty-two-year-old woman who was married to a gentleman for over fourteen years they divorced ten years ago.  She never remarried, he did. He is now seventy-two and drawing Social Security retirement...

I have a potential client who has a 21-year-old with autism and will never be able to work. The question is if one or both parents were to die does any of their benefit go to pay the cost of his care? They both are 60 years old and have saved a good bit of money to be able to retire but they are con...

A client claimed her own benefit when she turned 62 last year. Her ex turned 62 this year which qualifies her for a greater spousal benefit. When she called Social Security to claim off her ex, the representative recommended she defer spousal for a larger future benefit. This doesn’t seem right cons...

Do Social Security statements include DRC’s?

Yes, Social Security benefit statements do include Delayed Retirement Credits (DRCs). DRCs are earned when you delay taking your Social Security benefits beyond your Full Retirement Age (FRA). For every month you delay taking benefits past FRA, your bene...

We emphasize Situational Social Security in the NSSA® Certificate program because all of your clients are unique. Your clients may be single, married with wide or narrow age differences, divorced, surviving spouses, eligible to file a Restricted Application, public employees, and more. Advisors—you—...