A gift for DUers and others, who may not know.

[elleng]

Posted in Seniors, but many may benefit from this info:

Just learned that those who are eligible for Social Security, but have not yet signed up for it, are entitled to the amount you would have received had you signed up upon eligibility.

Husb in this situation, and even tho he's still working, and may continue so for a while, he's got some health type problems.

Soc Sec. sending him a pretty big check this week, for the 'arrears,' and will do so for those similarly situated.

[CaliforniaPeggy]

1. Thank you, my dear elleng!

That is good news, and important too.

[DURHAM D]

2. I am a little confused.

Are you saying that they are sending him a check to cover the date from his first eligibility (62 yrs of age) or from January of this year. I guess it would help if I knew how old he is.

[elleng]

3. Sending from age 62, first eligibility, and he's 68.

[DURHAM D]

4. Won't you end up paying a lot of taxes?

ETA: Also, taking it from 62 will lower the monthly amount over his life time by a large amount won't it?

[elleng]

8. We're separated, file 'separately,' and I don't think

(or care) about his tax obligations. His decision, if monthly amount lowered.

[DURHAM D]

10. His choice about lower monthly amounts could have an impact on you.

Were you married for 10 years or more? If so, would his SS amount be greater than yours? If not, you are right not to worry about it.

[elleng]

11. We're separated, not divorced,

but speaking w SocSec guy, I wouldn't receive anything from him anyway.
Thx.

[DURHAM D]

12. I assume that is because over your lifetime

you have made more money than your spouse. Otherwise it does not compute.

[elleng]

13. I did, during most of our years together;

since separation, things changed (coincidentally.)

[HiPointDem]

5. if they send him a check for what he would have got if he'd signed up at 62, his monthly payments

will also be the payments he would have received if he'd signed up at 62.

if he signs up at 68, his monthly payments are much bigger. why would he do that?

[DURHAM D]

6. I just edited my post to ask the same thing.

[elleng]

7. Its his decision, we're separated,

he's done quite well, so may or may not think too much about the amount of the SocSec feature of his entire retirement income.

edit: and he'll have a fair chunk to invest. Will see how his investments do, compared w SocSec.

[dkf]

9. This is not for everyone...you should consider life expectancy.

Longer life expectancy...try to delay if possible as break even age is 82 Iirc. So if you have a family history of longevity you will gain by waiting.

This is also key for spousal benefits. If the person passes, their spouse is entitled to their full benefit so they could be compromising their future benefit.

And yes, this can be relevant even if you eventually get divorced as long as you have been married over 10 years.