Ask Social Security Questions and Get Answers ASAP
Your question should be specifically addressed to both the social security administration and the Texas Teachers retirement system. They need to be addressed by him to these institutes. Unfortunately, these institutions are usually correct in their calculations. He withdrew the lump sum like 20 years ago? If you or he is interested in the calculation formula, fortunately, you or he can still make a request. For all the clients I know, it seems that SSA always wins (or being correct) in their calculations.
Fiona Chen, MPA, Ph.D., CPA, ABV, CFF, CITP
A different Professional here.
My 82yr old dad retired with social security benefits and Texas Teachers retirement benefits at 62. From the texas teachers fund he drew lump sum benefits with a subsequent adjustment to ssn benefits. My question is: Should not his ssn benefits been recomputed after a period (assuming lump sum amount divided by ssn benefit decrease equals x years) to see if an adjustment in entitlement is warranted.
Response: No. However, Social Security Administration always makes Cost of Living Adjustments ("COLA") for all recipients of Social Security benefits.
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