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LawTalk
LawTalk, Attorney
Category: Social Security
Satisfied Customers: 35406
Experience:  I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.
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Im 73 years old and collecting SS since age 62. From age 62

Customer Question

Customer: Im 73 years old and collecting SS since age 62. From age 62 to 65.8 I worked part time to avoid the offset. Once I reached full retirement age I started working full time and contribute to SS. Is there any way I can recalculate my benefit for get a higher payout or lump sum
JA: Thanks. Can you give me any more details about your issue?
Customer: I took my SS early at age 62 My SS check is based on earnings at age 62. I continue to work FT and contribute to SS. I am now 74 and still working. Based on substantual earning increase since I started getting SS can I have my SS benefit recalculated or receive a lump sum based on continued SS contributions
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Submitted: 11 months ago.
Category: Social Security
Expert:  LawTalk replied 11 months ago.

Good evening,

I'm Doug, and I'm sorry to hear of the confusion. My goal is to provide you with excellent service today.

Social security benefits are based on only the top 35 years of income in your lifetime---regardless of how many years you worked. If you worked less than 35 years total, then those years less than 35 would be deemed a $0 year.

If when you took your retirement and continued to work you had less than 35 years of earnings or any of the years’ post-retirement income placed that year in the top 35 category, then social security automatically would have increased your benefit. The reality is that an extra year for most folks makes very little difference and the amount is often hidden by the annual cost of living that is usually granted.

For example, if you had a post-retirement year where you earned $50,000 and that was a NEW year of income because you had only 32 years, that $50,000 would translate to just about $17.00 per month increase to you. But if the $50,000year actually replaces a $30,000 year from 20 years ago, the amount of increase you would realize would be only about a $7.00 per month increase.

If you believe that social security has not increased your benefits when you believe you did have a top 35 year or you earned more than one of the years already in the top 35, you can contact social security and ask them to recalculate your benefits. But because this is all done automatically each year by social security computers, there is only rarely an increase that is missed.

You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.

Please be so kind as to rate my service to you. That is the only way I am credited for assisting you.

I wish you and yours the best in 2016,

Doug

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