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The states for which the SSP is administered by the Social Security Administration are the following: California, Hawaii, Michigan, Montana, Nevada, New Jersey, and Vermont. In these states, only one payment is made to include both the SSI and the SSP, combining federal and state benefits. In some states, SSP is dually administrated.
These benefits can substantially influence your retirement income, and becoming familiar with their ins and outs is crucial. The post How to Calculate Spousal Social Security Benefits appeared ...
If you haven’t reached the full retirement age yet, the SSA will deduct $1 from your benefit amount per every $2 you earn above the yearly limit — currently $22,320.
One other important factor to consider is how Social Security will fit into your retirement plans. A whopping 60% of current retirees say their benefits are a major source of income, according to ...
For individuals who decide to accept benefits before their retirement age, $1 in benefits is deducted for each $2 that is earned above the annual limit ($16,920 for 2017). In the year of an individual's full retirement age, up until the precise month of full retirement, $1 of benefits is deducted for every $3 that is earned over the annual ...
My husband began drawing his Social Security at age 62. He is 68 now (born in 1955), while I am 62 (born 1961). If I begin to draw my Social Security now it will be reduced, of course.
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