|
Special Extra Earnings for Military Service
09-01-2008, 10:09 PM
|
#1
|
Recycles dryer sheets
Join Date: Jul 2008
Location: ENE MO - near STL
Posts: 424
|
Special Extra Earnings for Military Service
Has anybody here dealt with this? I'd never heard of it before seeing this at military.com
Veterans Report - Extra Social Security Benefits
SS site: Special Extra Earnings for Military Service
The SS site says, " From 1968 through 2001, you do not need to do anything to receive these extra credits. The credits were automatically added to your record."
But the military.com article says, "The DD-214 can establish eligibility for up to $1,200 per year of earnings credited at time of application."
My SS statement does not reflect any such credits. I think the SS site info is misleading and/or insufficient.
Anybody with experience with this to help clarify?
Thanks
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
09-01-2008, 10:27 PM
|
#2
|
Recycles dryer sheets
Join Date: Jul 2008
Location: ENE MO - near STL
Posts: 424
|
Oops, sorry, Should have done a search first.
It looks like this has actually been touched on here before.
http://www.early-retirement.org/foru...earchid=526429
The one thing that occurs to me here is that the $1200 credit is actually worth more than that since it's indexed in the benefit calculation. It's still not a great amount but it should be 5-6 times that when indexed, if I'm understanding the process correctly.
I can use everything I can get in ER!
|
|
|
09-02-2008, 05:35 AM
|
#3
|
Thinks s/he gets paid by the post
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,635
|
You are understanding it correctly. You just need to furnish the SSA copies (original or with the raised seal of the military department on them). If you do not have them you can order them from the NPRC in St. Louis, MO ( http://vetrecs.archives.gov) or call them at (1-314-801-0800) and they will send you a set to use when you file with SSA.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
|
|
|
09-02-2008, 10:56 AM
|
#4
|
Recycles dryer sheets
Join Date: Jul 2008
Location: ENE MO - near STL
Posts: 424
|
Quote:
Originally Posted by OAG
You are understanding it correctly. You just need to furnish the SSA copies (original or with the raised seal of the military department on them). If you do not have them you can order them from the NPRC in St. Louis, MO ( http://vetrecs.archives.gov) or call them at (1-314-801-0800) and they will send you a set to use when you file with SSA.
|
Thanks. Now I just have to remember to do it when the time comes!
Do you know if this comes up in the application process for those who may forget or aren't aware of it? Just wondering.
|
|
|
09-02-2008, 01:58 PM
|
#5
|
Thinks s/he gets paid by the post
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,635
|
Quote:
Originally Posted by Gardnr
Thanks. Now I just have to remember to do it when the time comes!
Do you know if this comes up in the application process for those who may forget or aren't aware of it? Just wondering.
|
Yes, the current application process does ask you for your dates of military service that may qualify. Then later on they ask for you to mail the required documents in.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
|
|
|
09-02-2008, 02:16 PM
|
#6
|
Thinks s/he gets paid by the post
Join Date: Jul 2006
Posts: 1,901
|
The SS web site says "years 1968 though 2001 have already been added and credits applied to your record". I've looked at my earnings for those years and don't see anything added. Anyone else had a similar experience?
__________________
“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
|
|
|
09-02-2008, 04:35 PM
|
#7
|
Thinks s/he gets paid by the post
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,635
|
Quote:
Originally Posted by Bikerdude
The SS web site says "years 1968 though 2001 have already been added and credits applied to your record". I've looked at my earnings for those years and don't see anything added. Anyone else had a similar experience?
|
Not sure of this, but I think they are "credits" added to the calculation AFTER they use your earnings (not including the military earnings) and are not reflected as "additional earnings" in any way. Like all Government things it is never simple. Maybe you could solve the question by calling them at the 1-800 number.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
|
|
|
09-02-2008, 04:47 PM
|
#8
|
Thinks s/he gets paid by the post
Join Date: Jul 2006
Posts: 1,901
|
I wonder If they are as 'efficient' as the IRS with their 800 number.
I guess there's only one way to find out.
__________________
“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
|
|
|
09-03-2008, 05:58 AM
|
#9
|
Thinks s/he gets paid by the post
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,635
|
Call late in the week (and later in the month) and you should be able to get through in a reasonable amount of time. They say they are busy early in the week OR the first part of the month.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
|
|
|
09-03-2008, 10:16 AM
|
#10
|
Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
|
Quote:
Originally Posted by Bikerdude
The SS web site says "years 1968 though 2001 have already been added and credits applied to your record". I've looked at my earnings for those years and don't see anything added. Anyone else had a similar experience?
|
Before 2001, my annual statements didn't include the military wage credits.
After 2002, my annual statements suddenly included the wage credit. It wasn't reflected in the earnings data but it was included in the projected SS amounts.
When filing for SS, verify that they have your military service on record and be ready to provide a DD-214. And, of course, that's only necessary if you were in the military before 2002.
__________________
*
Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|