0
Will the social security benefit when he reaches 62 of a retired veteran who is single now be reduced if he marries?
Wiki User
∙ 14y ago
A 58 year old widowed veteran was told that the amount of his social security benefit at 62 will be reduced if ever he marries now. Is this correct?
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
If a person receives Social Security Disability 680.00 per month can they work 20 hours a week 160.00 and still collect Social Security Disability?
Yes, but you must let social security know about the income. Your benefit amount may be reduced some to offset part of the income.
What is social security form SSA-25?
This is not an IRS form. SSA-25 is a form from the Social Security Administration that allows a spouse who is at least 62 years old, but has not yet reached full retirement age, to receive Social Security benefits based on the other spouse's income. Choosing to receive retirement benefits early results in a permanent reduction of the monthly payment, even after that person reaches full retirement age. Once the form is completed and signed, the spouse is bound by the terms of the agreement.The benefit reduction is calculated according to a formula noted in the SSA explanation, below.Form SSA-25 (01-2010) EF (01-2010) Certificate of Election for Reduced Spouse's Benefits"A spouse's insurance benefit may be payable for months between age 62 and full retirement age (FRA), even if you do not have in your care a child of the worker under age 16 or disabled entitled to a child's insurance benefit."Choosing to receive spouse's insurance benefits before FRA will result in a permanent reduction in your monthly benefits. Since such benefit will be at a permanently reduced rate and will continue at a permanently reduced rate even after FRA, the law requires that we obtain a certificate of election if you wish to receive the permanently reduced benefit."The amount of the reduction is 25/36 of 1 percent for each of the first 36 months from the start of the permanently reduced benefits to, but not including, the month you reach FRA."The reduction is 5/12 of 1 percent for each such month in excess of 36. In addition, if another beneficiary(ies) other than the wage earner (e.g., a student child beneficiary) is entitled to a monthly benefit on this Social Security number, election for a reduced spouse's benefit may cause a reduction in total monthly benefits. These reduced benefits may be paid for as many as 12 months before the month this certificate is filed. No reduced spouse's benefit may begin before the month you are 62. If you are eligible for retirement insurance benefits in the month this certificate takes effect, you will be considered to have applied for them."
Do civil service employees receive Social Security?
Yes this is possible BUT the benefits may be reduced because of provision of the law. For more information, go to the SSA.gov web site and use the search box for Windfall Elimination Provision (Publication No. 05-10045).If you receive a pension from employment in which you did not pay Social Security taxes and you also qualify for your own Social Security retirement or disability benefit, your Social Security benefit may be reduced, but not eliminated, by WEP. The amount of the reduction, if any, depends on your earnings and number of years in jobs in which you paid Social Security taxes, and the year you are age 62 or become disabled. In 2008, the maximum monthly reduction was $355.50.
What is the benefit of depriciation exp?
Reduced the velue of fixed asset
Can you draw social security at age 62 if born in 1950?
You can draw a reduced Social Security benefit starting between age 62 and your full retirement age. Someone born in 1953 has a full retirement age 66. You should become familiar with the Social Security website given in the related link.
How did consumers benefit from mass production?
The increased efficiency reduced the price.
Which of the following is NOT a benefit of using a variant?
Look-up times are reduced
Can you get incapacity benefit and reduced earnings allowance together?
No. you have no capacity to perform. Reduced earning allowance was inplaced if you were able to perform. your out of luck. STATED BY AUTHOR
What is a major benefit of implementing HACCP for a hospitality establishment?
increased profits and reduced waste
On Long Term Disability what is meant by the four types of social security integration Ex Primary Full Family Backdoor?
In general:Primary - means that the disabled person's Social Security benefit reduces the amount of LTD paid. Typically, the reduction is dollar for dollar - every dollar of SS benefit reduces the LTD benefit by one dollar.Full - means that both the disabled person's Social Security benefit and any spouse/child Social Security benefits reduce the amount of LTD paid. Typically the reduction is dollar for dollar.Family - usually means the same as Full above.Backdoor - means that the LTD plan looks at three different calculations and pays the lesser of the three:1. the benefit percentage (often 60%) of the disabled person's earnings, reduced by all of the reductions allowed by the plan EXCEPT for Family SS benefits; or2. a higher benefit percentage (often 70%) of the disabled person's earnings, reduced by all of the reductions allowed by the plan, INCLUDING Family SS benefits; or3. the maximum monthly benefit (whatever dollar limit or cap that is set by the plan).Please keep in mind that these are general definitions. Your plan could use different definitions or have unusual features that modify any of the above statements.
How much is social security reduced due to government pension offset?
58%
If a railroad worker had worked under Social Security before becoming a Railroad worker can they also receive Social Security benefits?
They can but that person's Railroad Retirement is going to be reduced. Here is a link to the Railroad Retirement Board's website that explains all the details about Railroad Retirement and Social Security Benefits. The tier I portion of a railroad retirement annuity is based on both railroad retirement and nonrailroad social security credits acquired by an employee and reflects what social security would pay if railroad work were covered by social security. Tier I benefits are, therefore, reduced by the amount of any actual social security benefit paid on the basis of nonrailroad employment, in order to prevent a duplication of benefits based on the same earnings. .
