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lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 28084
Experience:  Taxes, Immigration, Labor Relations
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I am going to receive social security benefits of $3568

Customer Question

I am going to receive social security benefits of $3568 starting on 9/2/16. my wife has not worked for many years. She will claim social security stating in September of next year. she will get halh of mine using the PIA. What is my PIA and what is half of my PIA starting next September?
Submitted: 6 months ago.
Category: Social Security
Expert:  lev-tax replied 6 months ago.

The maximum benefit depends on the age you retire. For example, if you retire at full retirement age in 2016, your maximum benefit would be $2,639. However, if you retire at age 62 in 2016, your maximum benefit would be $2,102. If you retire at age 70 in 2016, your maximum benefit would be $3,576.

Expert:  lev-tax replied 6 months ago.

So - based on your information - you delayed your benefits after your full retirement age - and the amount $3568 includes that increase.

The "primary insurance amount" (PIA) is the benefit (before rounding down to next lower whole dollar) a person would receive if he/she elects to begin receiving retirement benefits at his/her normal retirement age.

Your spouse's benefits would be determined based on YOUR benefits at your full retirement age (without considering that increase because of delay).

Then - these benefits may be reduced if your spouse will start before her full retirement age.

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