Social Security Tips – February 2018

Brand New Flyer:

Your Retirement Checklist

When to start receiving retirement benefits is a personal decision. This 4-Page flyer will help your clients learn about factors to consider when deciding when to start Social Security retirement benefits.

Available for download and local print only!

https://www.ssa.gov/pubs/EN-05-10377.pdf

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Updated For Those Born in 1956:

Your Retirement Benefit:

How It’s Figured

The back of this factsheet has a worksheet for calculating the Social security monthly retirement benefit. The indexing factors change based on one’s year of birth. This one is for those born in 1956.

Available for download, audio, Spanish and ordering large quantities at www.ssa.gov/pubs

https://www.ssa.gov/pubs/EN-05-10070.pdf

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Update 2018 Factsheet

 This factsheet provides updates about Social Security taxes, benefits and costs for 2018. This one-page factsheet has updated information for people who are working, people who are receiving Social Security and SSI and people on Medicare.

Available for download, audio, 17-different languages and ordering large quantitites at www.ssa.gov/pubs

https://www.ssa.gov/pubs/EN-05-10003.pdf

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Updated Brochure: How Work Affects Your Benefits

 If any of your clients are receiving Social Security retirement, spouses, divorced spouses, and widow(er)s benefits, they all have earnings limits if they have not yet attained their full retirement age. This brochure explains how working affects those benefits along with the 2018 earnings limits.

The brochure provides examples of how the earnings limit rules affect benefits, explains what income counts and when it counts and the special rule in the first year of filing.

Available for download, audio, 17-different languages and ordering large quantities at www.ssa.gov/pubs

https://www.ssa.gov/pubs/EN-05-10069.pdf

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The Q&A for the month:

Question: I have a client who is currently drawing Social Security. He started drawing at age 70.  He is questioning why his wife is not getting exactly 50% of his Social Security.

Answer: She would not receive 50% of his age 70 amount. She is only eligible for 50% of his full retirement amount which is then reduced if she files before her full retirement age. She can only receive the increased benefit if he passes away. She would need to call 1-800-772-1213 between 7 am and 7pm to speak to a representative if she didn’t feel she was receiving the right amount.

https://www.ssa.gov/planners/retire/applying6.html

 

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