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I'm planning to retire in September 2018, when I turn 65. I…

I'm planning to retire...

I'm planning to retire in September 2018, when I turn 65. I was married for 22 years, divorced in 1994, and never remarried. My ex husband's benefit, he says, would be around 1800; mine will be around $1000. If I want to "work off of" his benefit, about how much more would I get, if anything?

Accountant's Assistant: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Is there anything else important you think the Retirement Accountant should know?

I do have several questions; retiring from State of California through CalPERS; want to know if that makes any difference in my SS amount.

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Customer reply replied 1 month ago
May I ask about Medicare to? I will have health benefits through my retirement from the state as secondary insurance and that insurance covers medications do I still need Part D?
Customer reply replied 1 month ago
While I'm waiting, will also ask: When should I apply for SS if I'm retiring from my job on Sept 7, 2018? What should I bring to SS office? I don't have my marriage license or divorce decree - lost in a flood. I do know my ex's SSN. Will that be enough for them to determine whose benefit amount I should go with? Is SS income taxed in California? How and when do I apply for Medicare?
Answered in 1 day by:
3/12/2018
taxmanrog
taxmanrog, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,030
Experience: Licensed CPA, MA, MST with 31 years' experience. Teach Accounting and Tax courses at Masters level.
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Welcome to Just Answer! Thank you for giving me the opportunity to assist you! I will do my best to help!

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When you retire, you will receive the greater of 50% of his benefit, or your own benefit. So if you are entitled to $1,000, and he is currently getting $1800, then you would only get $900 if you collect based on his benefits.

One strategy (and the SSA can go over this with you) is to collect based on his benefit, and let yours continue to accumulate. It grows by a few percent per year if you are eligible to collect but do not.

If you collect based on your own record, you won't need anything like marriage certificates. With his SSN, they can tell you how much you would collect. However, to actually start collecting you will need to get a marriage license. I don't know where you live, but I was married in Cook County, IL, and I can go to any of the court houses, and for $15 they will give me a certified copy. I can also get a copy of my divorce decree from my former wife.

I hope this answers your question. If you have any more, please feel free to ask and I will be happy to answer.

Thanks! Have a great week!

Roge

taxmanrog
taxmanrog, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,030
Experience: Licensed CPA, MA, MST with 31 years' experience. Teach Accounting and Tax courses at Masters level.
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Experience: Licensed CPA, MA, MST with 31 years' experience. Teach Accounting and Tax courses at Masters level.

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