THINKING RETIREMENT – ANDY LANDIS – There are numerous birthdays throughout your life that are significant Social Security milestones. Don’t overlook one or you might get short-changed. I’ll bet you anything you have a birthday sometime this year. If you’re near my age, any birthday is worth celebrating, especially if you’re upright and can get out of bed unassisted…no matter how many times you have to do that at night.
There are some special years when Social Security might say “happy birthday” with a valuable gift…a Social Security payment. Could this be the year? Be sure to check the following chart and web links to see if your Social Security status changes.
No matter your age – Note that you might be eligible for Social Security or Supplemental Security Income (SSI) at any age if you become disabled or if a family member passes away. Restrictions apply, so check with SSA in every case. Don’t leave money on the table!
Eligible for SSI payments if disabled and needy. www.ssa.gov/pubs/EN-05-10026.pdf
Parent’s Social Security payments stop when youngest child reaches 16, unless parent is otherwise eligible. www.ssa.gov/kids/#ht=1
Child’s Social Security payments stop unless child is in elementary or high school, or disabled. www.ssa.gov/pubs/EN-05-10085.pdf
Disabled individual can get SSI independently, without counting parent’s income and resources. www.ssa.gov/pgm/ssi.htm
Child’s Social Security payment stops even if in elementary or high school, unless disabled. www.ssa.gov/pubs/EN-05-10085.pdf
Child” must be disabled by age 22 to receive Disabled Adult Child Social Security payments on a parent’s work record. www.ssa.gov/pubs/EN-05-10026.pdf
Eligible for Social Security payments as a Disabled Widow(er) (reduced payment amount). www.ssa.gov/survivorplan/ifyou2.htm
Eligible for Social Security payments as a Widow(er) (reduced payment amount). www.ssa.gov/survivorplan/ifyou2.htm
Remarriage after 60 does not bar Social Security Widow(er)’s or surviving divorced spouse payments. www.ssa.gov/survivorplan/ifyou5.htm#other
Eligible for Medicare. www.ssa.gov/pgm/medicare.htm
Eligible for SSI Aged payments. www.ssa.gov/pgm/ssi.htm
Full Retirement Age (FRA). Exact FRA, currently 66, is determined by birth year. www.ssa.gov/pubs/ageincrease.htm
Eligible for unreduced Social Security retirement payments. www.ssa.gov/pubs/EN-05-10147.pdf
Earned income no longer reduces Social Security payment. www.ssa.gov/pubs/EN-05-10077.pdf
Retirement payments automatically increase if earlier payments were withheld due to work. www.ssa.gov/pubs/EN-05-10077.pdf
Able to voluntarily suspend payments to receive Delayed Retirement Credits (DRCs). www.ssa.gov/retire2/suspend.htm
Maximum retirement payments. www.ssa.gov/pubs/EN-05-10147.pdf
Voluntarily suspended payments automatically resume. www.ssa.gov/retire2/suspend.htm
There are rules and restrictions that govern each of these dates. Always check with Social Security [ www.ssa.gov] for details that might affect you. And as always, keep on planning!