Retirement

A person holding a Social Security card.

Understanding How Deductions are Made in Social Security Benefits, § 404.423

Leave a Comment / Uncategorized / April 26, 2023

Social Security benefits are an essential part of many people’s retirement plans. However, certain events can lead to deductions from these benefits. In this blog post, we’ll explore how deductions are made, as outlined in §404.423 of the Social Security regulations. Understanding these rules can help ensure you’re aware of any potential reductions in your …

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Social Security benefits statement with highlighted text and calculator

Understanding Social Security Deductions Due to Excess Earnings, § 404.415

Leave a Comment / Reductions / April 26, 2023

The Social Security Administration (SSA) enforces an annual earnings test for those receiving benefits who have not yet reached full retirement age. This test ensures that benefits are reduced if an individual earns above a certain threshold. In this blog post, we will discuss the three main types of deductions due to excess earnings, as …

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Social Security adjustments for age reduction

Understanding Social Security Benefit Adjustments after Reduction for Age, § 404.412

Leave a Comment / Reductions / April 26, 2023

If you’re receiving Social Security benefits, you may be wondering how reductions due to age are calculated and when adjustments may be necessary. In accordance with § 404.410, benefits are reduced based on the number of months prior to full retirement age that you become entitled to benefits. However, certain months are excluded from consideration when …

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An illustration of a calculator with the Social Security logo on it.

Understanding How Social Security Benefits are Reduced for Age When Entitled to Multiple Benefits, § 404.411

Leave a Comment / Reductions / April 26, 2023

Navigating the complex world of Social Security benefits can be challenging, especially when you’re entitled to multiple benefits. In this blog post, we’ll break down the rules and scenarios under which benefits are reduced for age when a person is entitled to two or more benefits. This information is based on § 404.411, which outlines how …

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A chart illustrating Social Security benefit reductions for old-age, spouse, and widow/widower benefits based on months before full retirement age.

Understanding Social Security Benefit Reductions Before Full Retirement Age, § 404.410

Leave a Comment / Reductions / April 26, 2023

Social Security benefits can be reduced if entitlement begins before reaching full retirement age. The reductions are different for old-age, spouse, and widow/widower benefits. In this post, we’ll explain how the Social Security Administration (SSA) reduces these benefits and provide examples to help you understand the calculations. Old-Age Benefits Reduction The SSA reduces old-age benefits …

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Full Retirement Age table based on birth date

Understanding Full Retirement Age and Its Impact on Your Benefits, § 404.409

Leave a Comment / Reductions / April 26, 2023

Full retirement age is a crucial factor when planning your retirement and understanding your social security benefits. It is the age at which you become eligible to receive unreduced old-age, wife’s, husband’s, widow’s, or widower’s benefits. Previously set at 65, the full retirement age is gradually being increased to 67 for people born after January …

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Social Security benefits for a family with a worker and three dependents.

Understanding the Reduction of Social Security Benefits When Exceeding Maximum Family Benefits, § 404.403

Leave a Comment / Reductions / April 25, 2023

The Social Security Act sets a limit on the amount of monthly benefits that can be paid based on an individual’s earnings. When the total benefits for all persons entitled to one earnings record exceed the maximum amount prescribed by law, the benefits must be reduced to comply with that maximum. This article provides an …

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Social Security benefits chart

Understanding Deductions, Reductions, and Nonpayments of Social Security Benefits, § 404.401

Leave a Comment / and Nonpayments / April 11, 2023

Navigating the Social Security system can be complex, and it’s essential to understand how certain conditions can affect your benefits. In this blog post, we’ll discuss the various scenarios that may result in deductions, reductions, nonpayments, or adjustments to your monthly Social Security benefits or lump-sum death payments. Reductions in Monthly Benefits Your monthly Social …

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Understanding Wife’s and Husband’s Social Security Benefit Amounts, § 404.333

Leave a Comment / Wife's or Husband's Benefits / April 7, 2023

The Social Security Administration provides benefits to spouses and divorced spouses of insured individuals. Knowing how these benefit amounts are calculated is essential for planning your financial future. This blog post will explain the method for determining wife’s and husband’s benefit amounts as outlined in § 404.333. How Benefit Amounts Are Calculated: Your wife’s or husband’s …

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Understanding When Wife’s and Husband’s Social Security Benefits Begin and End, § 404.332

Leave a Comment / Wife's or Husband's Benefits / April 7, 2023

The Social Security Administration provides benefits to spouses and divorced spouses of insured individuals under certain circumstances. Understanding when these wife’s and husband’s benefits begin and end is essential for navigating the benefits system. This blog post will provide an overview of the rules governing the start and end of these benefits as outlined in …

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