Telly
Thinks s/he gets paid by the post
- Joined
- Feb 22, 2003
- Messages
- 2,395
I was looking at SSA online at my estimated (future) benefits statement. I never really paid any attention to the Maximum Family Benefit dollar limitation, figured it really wouldn't apply to me. Now, I'm wondering...
Looking at a per-record case, there is a Maximum Family Benefit, which is computed using data from your record, via a formula with multiple bend points. SSA makes it easy by calculating the max and listing it on the statement.
Doing a search on SSA, and reading some of the items, I can't figure out if this limitation will apply to me/us (DW and I).
The scenario is this: I file and suspend when DW reaches her FRA @ 66, so she would get an equivalent 1/2 of my FRA (PIA) amount. I would wait and start my benefits at my age 70. If I add her estimated benefit on my record, plus mine at age 70, it exceeds the MFB.
First Question:
The few examples they have on SSA have more than 2 people involved getting benefits. Are DW and I, on my record, a "family"? Does MFB apply to us?
Second Question:
To fully describe DW's 1/2 of my FRA benefit, I need to add more detail.
She works at a non-SS job, and will be affected by GPO. The formula for her SS benefit on my record at her FRA with GPO is 1/2 of my records PIA, minus 2/3rds of her pension amount. (She gets 100% of her pension from the entity, and SSA pays according to the formula above). So the SSA would be paying out less than 1/2 of my PIA to her. If I add her expected SS with GPO on my record to my at 70 benefit, the result is below the MFB.
IF MFB applies to us, does it only use the dollars to be paid out by SSA as the basis in determining if MFB has been met/exceeded? Or do they add in some of her pension dollars to determine the MFB threshold?
I cannot find our situation described, at least where I could recognize it.
Looking at a per-record case, there is a Maximum Family Benefit, which is computed using data from your record, via a formula with multiple bend points. SSA makes it easy by calculating the max and listing it on the statement.
Doing a search on SSA, and reading some of the items, I can't figure out if this limitation will apply to me/us (DW and I).
The scenario is this: I file and suspend when DW reaches her FRA @ 66, so she would get an equivalent 1/2 of my FRA (PIA) amount. I would wait and start my benefits at my age 70. If I add her estimated benefit on my record, plus mine at age 70, it exceeds the MFB.
First Question:
The few examples they have on SSA have more than 2 people involved getting benefits. Are DW and I, on my record, a "family"? Does MFB apply to us?
Second Question:
To fully describe DW's 1/2 of my FRA benefit, I need to add more detail.
She works at a non-SS job, and will be affected by GPO. The formula for her SS benefit on my record at her FRA with GPO is 1/2 of my records PIA, minus 2/3rds of her pension amount. (She gets 100% of her pension from the entity, and SSA pays according to the formula above). So the SSA would be paying out less than 1/2 of my PIA to her. If I add her expected SS with GPO on my record to my at 70 benefit, the result is below the MFB.
IF MFB applies to us, does it only use the dollars to be paid out by SSA as the basis in determining if MFB has been met/exceeded? Or do they add in some of her pension dollars to determine the MFB threshold?
I cannot find our situation described, at least where I could recognize it.