I frequently get questions from soon-to-be retirees who have heard about a “family maximum” that applies to Social Security benefits, and they are afraid that rule will reduce the benefits they are due as a couple.
So, here is the message of this column: The family maximum rules do not apply to a husband and wife getting Social Security benefits all by themselves. These maximum rules only come into play when children are involved. That usually means cases involving children getting benefits on a deceased parent’s account. Or it can mean limiting benefits to families of someone getting Social Security disability benefits. But it also can occasionally apply to retirees who still have minor children at home.
But again, the focus of today’s column is the scenario of a husband and wife with no minor or disabled adult children at home.Listen now and subscribe: Apple Podcasts | Google Podcasts | Spotify | Stitcher | RSS Feed | Omny Studio Q: I am waiting until age 70 to take my Social Security so I will get 132% of my Social Security benefit. Then my wife, who was a homemaker all her life, will file on my record and she will get 50% of my benefit.
A: Don’t worry. You’ll note the rulebook section your accountant sent you refers to a “primary insurance amount,” which is essentially your full retirement age amount. That amount can never be more than a 100% rate. You are going to get a higher monthly benefit amount because you are delaying filing for Social Security until age 70. But your PIA remains at that 100% rate.
Your wife is going to get a 50% rate. So, the most a husband and dependent wife can get in basic combined benefits is 150%. And that 150% rate does not exceed the lowest family max rate . If you have a Social Security question, Tom Margenau has a book with all the answers. It’s called “Social Security: Simple and Smart.” You can find the book at creators.com/books. Or look for it on Amazon or other book outlets. To find out more about him and to read past columns and see features from other Creators Syndicate writers and cartoonists, visit www.creators.com. Subscribe to stay connected to Tucson.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
David Brooks: Why your social life is not what it should be'We’re an extremely social species, but many of us suffer from what some call undersociality. We see the world in anxiety-drenched ways that cause us to avoid social situations that would be fun, educational and rewarding,' writes an NYT columnist.
Read more »
Jennifer Garner Wins The 'Teenage Dirtbag' Social Media TrendThis one goes out to the band nerds and theater kids.
Read more »
How Much Could You Get From Social Security? Here's How to Check, Even If You're Decades From RetirementChecking on your Social Security benefit now can give you a better idea of how much to save for retirement, along with a chance to correct any mistakes.
Read more »
Student accused of making social media threat aimed at Atlantic Coast High SchoolOn Friday morning, the principal of Atlantic Coach High sent students’ families a message, saying school officials were informed of a social media post from a student threatening a shooting at the school.
Read more »
Trump's Social Network Apparently Owes $1.6 Million in Hosting FeesFormer President Donld Trump's social media outlet, Truth Social, has allegedly stiffed its host company RightForge more than $1.6 million in unpaid bills.
Read more »