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This answer was rated:

I retired at 70 in. I retired at 70 in September, and I

I retired at 70...

I retired at 70 in

Accountant's Assistant: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.

I retired at 70 in September, and I figure I should be getting $300 more per month than they are giving me. Is there a process for disputing this amount?

Accountant's Assistant: Is there anything else important you think the Retirement Accountant should know?

I figured the amount using my earnings record and the form provided by social security. I would send it to you but I can't figure out how.

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Answered in 4 minutes by:
11/21/2017
emc011075
emc011075, Tax Adviser
Category: Social Security
Satisfied Customers: 3,697
Experience: Tax adviser IRS licensed Enrolled Agent and tax instructor
Verified

Hi. My name is ***** ***** I will be happy to help you.

We do not have access to social security accounts so we cannot verify your earnings. Have you checked with social security or your online security account to make sure that all of your earning had been correctly reported to social security?

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Customer reply replied 6 months ago
I have my earnings record from social security. That is what i used to calculate my benefit. I included it with my previous question. I will include it again. I am having trouble getting it to come out readable. Let me know.

Ok. It will take me some time to check your calculations. I can do it but would have to increase the fee. Let me send you an additional service offer.

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Customer reply replied 6 months ago
Ok I can understand that

I see no respond. Let me opt out and have somebody else help you.

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Customer reply replied 6 months ago
Don't forget, when you retire at 70, you multiply by 1.32
lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 32,857
Experience: Taxes, Immigration, Labor Relations
Verified

Hi and welcome top our site!

Different expert here

You are talking about Delayed Retirement Credits.

Social Security retirement benefits are increased by a certain percentage (depending on date of birth) if you delay your retirement beyond full retirement age.

The benefit increase no longer applies when you reach age 70, even if you continue to delay taking benefits.

Specifically in your situation - for those born in 1943 or later - Yearly Rate of Increase is 8%.

HOWEVER - if you start receiving benefits at age 70 in the middle of the year 2017 - these benefits will ONLY include the Delayed Retirement Credit up to January 1, 2017.

The credit for 2017 months of delay will be recalculated starting January 2018.

Let me know if that answered your question.

Be sure to ask if you need any help.

lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 32,857
Experience: Taxes, Immigration, Labor Relations
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lev-tax and 87 other Social Security Specialists are ready to help you
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Customer reply replied 6 months ago
Thank you. I think you are right

You might already receive a letter from the SSA regarding amount of your social security benefits starting 2018 - that amount should reflect FULL amount of Delayed Retirement Credits.

If you have not yet receive that letter - you should get it shortly.

.

I appreciate if you take a moment to rate the answer.

Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all Social Security / Tax related issues.
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lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 32,857
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Experience: Taxes, Immigration, Labor Relations

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