Social Security Benefits/Retirement Lesson

[middleagecrisis]

If this helps even one person in our aging hobby, this post will be worth it. I'm planning on retiring for good, as I turn 65 in January and I've only got so much time left to "enjoy" life. Yes, that means working on my Duster and I know my username implies I'm younger, just shows how long I've had it, lol. Anyways, I had planned on retiring on my ~ birthdate, 26 Jan. however dealing with the Social Security Administration (SSA) has changed those plans slightly. To log in to SSA and initiate the retirement benefit, you must use Login.gov or ID me. To establish your Login.gov account, a driver license picture is used to capture your name for the account. If DL name doesn't exactly match (e.g. Tom vs. Thomas) your SSA records, you can't authenticate with SSA. This hasn't been an issue with any other agency, only SSA. Your only option at this point is to schedule a telephone interview, mine was 6 weeks out from the original request. On the current schedule I won't receive my first benefit deposit until late February. Since I'll need the SSA benefit to supplement our household income, I'll have to wait to give my current employer notice until med-February. When you've mentally made the decision (for me about a month ago), working a couple of more months kind of sucks. My recommendation FWIW, ~6 months before you plan to retire, create you're Login.gov account and try and access SSA to create an account. If successful submit, your retirement application 2-3 months out, with a requested benefits begin date. If unsuccessful (like me), then you can request the phone appointment which will be 6-8 weeks out based on my experience. Just one of those things I would have liked to know beforehand.

 

[One Bullet Barney]

Good information.
I'm not going to move this to N and P unless the conversation moves that way.

 

[middleagecrisis]

Good information.
I'm not going to move this to N and P unless the conversation moves that way.

It would be unfortunate if someone took it that way, but if they do, you have my thumbs up to lock it and let it move on.

 

[YY1]

I'm going to have to go through this, too.

Not looking forward to it.

 

[skep419]

I'd take the hit and be done on your birthday. I can't imagine a couple months breaking you. Congratulations

If it caused you enough mental stress in MN you could just take leave.......

Minnesota's new Paid Family and Medical Leave (PFML) program launches January 1, 2026, providing most workers up to 12 weeks of paid leave for medical needs (self/family) or family bonding/safety, capped at 20 weeks total per year, funded by payroll deductions, offering job protection, and ensuring partial wage replacement (55-90% of wages) with benefits administered by DEED.

 

[mbaird]

Your first payments will also be delayed a few months . So factor that into your timing .

 

[mopar head]

They must have recently changed it. I filed a couple years ago and didn`t have to show a pic. but boy you have to give out your life's history. Good luck

 

[ProjectBazza]

Good information.
I'm not going to move this to N and P unless the conversation moves that way.

I think "intent" is what matters here, and since the OP is trying to be helpful (and I thank him for that!), perhaps if the conversation starts to "go south", only those responses that "cross the line" should be deleted, leaving the original post.

But not my playground, not my decision.

 

[ProjectBazza]

I'd take the hit and be done on your birthday. I can't imagine a couple months breaking you. Congratulations

If it caused you enough mental stress in MN you could just take leave.......

Minnesota's new Paid Family and Medical Leave (PFML) program launches January 1, 2026, providing most workers up to 12 weeks of paid leave for medical needs (self/family) or family bonding/safety, capped at 20 weeks total per year, funded by payroll deductions, offering job protection, and ensuring partial wage replacement (55-90% of wages) with benefits administered by DEED.

That's causing my employer a TON of grief!

Much like the OP I'm "this close" to retiring, and due to some recent health issues that just popped-up, my employer is all over me like white on rice to see if I'm going to take advantage of this. (Answer: Oh, hell no!)

 

[Bodyperson]

I could get this to the political forum really fast. I'll try not to do that. Your birthday doesn't matter after 62. It goes on a monthly bases. Once you make contact they should retro to that day.

 

[mbaird]

I could get this to the political forum really fast. I'll try not to do that. Your birthday doesn't matter after 62. It goes on a monthly bases. Once you make contact they should retro to that day.

IIRC seems like there was a 2 month wait period . I turned 62 in July and the 1st payment came in September.

 

[ProjectBazza]

I could get this to the political forum really fast. I'll try not to do that. Your birthday doesn't matter after 62. It goes on a monthly bases. Once you make contact they should retro to that day.

I know you were responding to the OP, but can you clarify:

I just received my SS Statement, and in there it breaks down my SS "income" based on the age in which I plan on using the benefit (62, 63, 64, etc). My assumption is that the "bumps" in pay are annual, ONLY, and that, for example, if I were to retire at 62 years and 11 months, I would only receive the 62 year old rate. If I'm understanding you correctly, it sounds like the benefit's may be based on a "pro rata", or monthly, basis, if you will, instead of one annual "jump".

I hope that makes sense.

Is this correct?

 

[Bodyperson]

That's causing my employer a TON of grief!

Much like the OP I'm "this close" to retiring, and due to some recent health issues that just popped-up, my employer is all over me like white on rice to see if I'm going to take advantage of this. (Answer: Oh, hell no!)

Take advantage of what?

IIRC seems like there was a 2 month wait period . I turned 62 in July and the 1st payment came in September.

Ya, they do pay in arrears.

 

[ProjectBazza]

Take advantage of what?

Minnesota's new Paid Family Leave law that goes into effect on 1/1/26.

 

[Bodyperson]

I know you were responding to the OP, but can you clarify:

I just received my SS Statement, and in there it breaks down my SS "income" based on the age in which I plan on using the benefit (62, 63, 64, etc). My assumption is that the "bumps" in pay are annual, ONLY, and that, for example, if I were to retire at 62 years and 11 months, I would only receive the 62 year old rate. If I'm understanding you correctly, it sounds like the benefit's may be based on a "pro rata", or monthly, basis, if you will, instead of one annual "jump".

I hope that makes sense.

Is this correct?

Yes, that is correct. every month And if you were looking from a disability stand point, it would take longer than just going strait to SS

 

[ProjectBazza]

Yes, that is correct. every month And if you were looking from a disability stand point, it would take longer than just going strait to SS

No disability here, just nice to know I can leave whenever I damn well please!

Thanks!

 

[Bodyperson]

Check out DR. Ed Weir. wealth of info on SS

 

[Bodyperson]

But... think about this. Every year is an 8 % increase. Pretty good investment until 70.

 

[middleagecrisis]

I could get this to the political forum really fast. I'll try not to do that. Your birthday doesn't matter after 62. It goes on a monthly bases. Once you make contact they should retro to that day.

What matters after 62 is the payment amount. Every year you wait, your monthly benefit increases. When I retired from my first career after 36 years, I decided to work until 67 as a consultant contractor for my employer. My wife and I agreed the extra pay and increased benefit amount was worth it. Without going into the details, I'm not getting the same job satisfaction that I previously enjoyed, mainly because I was placed as a consultant in a new department. My health issues are starting to increase and get worse from the last 36 years I served my country. Just like when I knew it was time to retire from my previous position, because my career had run its course, it's time to retire full time from this one. Per SSA, once I file (27 Jan. date of phone interview), my payment will be the 4th Wednesday of the next month (late Feb.). So they say....

 

[middleagecrisis]

But... think about this. Every year is an 8 % increase. Pretty good investment until 70.

Yes, but at what point do you say, a couple hundred bucks extra isn't worth it to me personally anymore? Mine went from 67 last March to 65 last month.

 

[Bodyperson]

Yes, but at what point do you say, a couple hundred bucks extra isn't worth it to me personally anymore? Mine went from 67 last March to 65 last month.

It is a total personal decision for sure. Everybody is different. Invest that money or wait if you have a spouse that may get your survivor benefit. Thats my plan. My wife will be 62 in 2 years. We will draw off of hers then and wait for me so there is more for her if I die before her. Survivors get the higher insurance.

 

[ProjectBazza]

It is a total personal decision for sure. Everybody is different.

Bingo!

Yes, but at what point do you say, a couple hundred bucks extra isn't worth it to me personally anymore? Mine went from 67 last March to 65 last month.

Our financial advisor has been very helpful in helping us determine when I can (my wife says "should") retire. Have them run the numbers, and then balance this against your desire to leave, your health (physical as well as psychological), your budget (can you make it smaller?), etc. Only you can make that call.

 

[Bodyperson]

And as you all well know, there is a limit on how much you can make and not be penalized up until your full retirement age and after that there is no limit.

 

[trapster]

Any chance you could just fix your name on your drivers license ?

 

[Rick@Laysons]

I just went thru this a couple of months ago.

My Full Retirement Age(66yrs 8mos) was April 1st of this year.

I tried to do the "myaccount" BS on their website with no luck(comments withheld!!!!!!).

Long story short.......after about four months of trying with no luck, I dialed up the 800 number, got my appointment(phone call appointment) set, and waited for them to call me.

I will say that they did call EXACTLY when they said they would.

The lady on the other end of the line was VERY helpful and understanding. When it was all said and done, I got all "back-pay" from April 1 plus my cuurent month that was owed. She also got me all signed up for the Medicare as well....all in one fell swoop.

This was THE MOST POSITIVE experience with any gov't agency in the 67+ years I've been on this earth!!!!!