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ShawnA
ShawnA, SS Expert, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS , Decades of experience helping clients..
Category: Social Security
Satisfied Customers: 2884
Experience:  SS Expert, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience helping clients..
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I was asked by my employers-Northrop Grumman Aircraft-to retire

Customer Question

I was asked by my employers-Northrop Grumman Aircraft-to retire when I was 62 yrs old. That was in 1994. After 2 months they rehired me. Then they laid me off after 8 months.(I was working as Sr. Industrial Engineer) That's when I started getting Social Security benefits. In Jan. 1997 I was hired by Boeing Aircraft CO. as Sr. Jndustrial Engr. at their Seattle, WA. plant. In Nov.1998 I was laid off due to the company losing business. My Social Sec. resumed then. Since I retired at the age of 62 I was not getting what people retiring at the age of 65 get. So my question is: is there any hope of my getting the same amount people retirng at the age of 65 get? If the answer is "yes" what should I do to get it? I am 83 now. My email address is:***@******.*** THANKS A LOT
Submitted: 1 year ago.
Category: Social Security
Expert:  ShawnA replied 1 year ago.
Hello. My specialty is focusing on YOUR Financial needs. Financial Planner/Business Owner for 20 years. CPA,PFS,QFP,GMMA.
I hate to be the bearer of bad news. What is happening is that you started to collect at age 62 and were "discounted" at 8% a year because you were not at FRA (Full Retirement Age).
Unfortunately this "discount" of 28% (4 years at 8%) stays with you no matter what your age.
I will offer you a call you explain in detail how it was cut, grew while you suspended it, etc.
What also makes it worse (sharing bad news) is that sometimes people get so angry they react emotionally and rate my service as bad.
The reality is that the answer to your question is very straightforward.
I wish I was able to supply a different answer, one along the lines you were probably hoping for but the facts are the facts.