At age 63, you can begin to draw Social Security benefits based on your ex-husband's record, but the amount will be reduced since you are claiming before your full retirement age. Generally, you can receive up to 50% of his full retirement benefit if you wait until you reach your own full retirement age. However, if you take benefits early, the amount will be less than 50%. To get the exact figures, it’s best to consult the Social Security Administration or use their online calculators.
Social Security retirement checks are subject to FICA taxes (Social Security and Medicare taxes) unless an individual has already reached the maximum taxable earnings limit for the year. Once the maximum limit is reached, no further FICA taxes are deducted from the retirement checks.
The amount of money you can make while collecting Social Security depends on your age and whether you have reached full retirement age. If you are under full retirement age, there is a limit to how much you can earn before your Social Security benefits are reduced. Once you reach full retirement age, there is no limit on how much you can earn while collecting Social Security.
Your best bet would be to go to the source and access the governments website on social security. It can be reached at www.ssa.gov.
No, you do not pay Social Security tax on your retirement benefits.
Yes. Having a retirement account such as a 401k or an IRA will not affect your ability to draw social security benefits.
No, you do not pay Social Security tax on your retirement benefits once you start receiving them.
The Social Security Retirement Planner, website www.ssa.gov/retire2/, is a government-run website that has everything you need to know about social security retirement. The site helps you plan and know how much you will be getting for retirement.
No. Social Security retirement (vs. SSI) is not based on income or assets.
social security is not impacted by other retirements. they are separate. Your military retirement will not affect or change your wife's retirement from the railroad. you will each have your own retirement and at age 62 or older you each will also have your own social security. however, your wife many not have any input to social security benefits if she has not paid into social security during her work span. best to check with social security to see where she stands with social security
Can you draw social security and teachers retirement and change from your social security to my wife who passed away a short time ago?
Yes. If you work after retirement, you will still have contributions to Social Security and Medicare (FICA) withheld from your paycheck at the same rate as before retirement.
Yes. If you work after retirement, you will still have contributions to Social Security and Medicare (FICA) withheld from your paycheck at the same rate as before retirement.