Will she lose late husband's Social Security?
A widow's Social Security benefit depends on her age when she takes it. Credit: iStock
My husband died at age 52 when I was 51. I thought at 60 I'd be entitled to a widow's benefit on his Social Security. However, the Social Security office said I wasn't eligible because I make too much money. How is this determined? My salary is $30,000, not a lot of money to run a household on my own. Now my question is if I marry, will I lose my husband's Social Security? At what age can I get it?
Your ineligibility to collect Social Security is temporary. After you turn 66 -- your full retirement age -- there's no limit on the amount of money you can earn while you collect Social Security. Younger people are subject to an "earned income test," which limits how much they can earn while simultaneously collecting a retirement benefit.
In 2015, if you collect Social Security while under your full retirement age, $1 is deducted from your benefit for each $2 you earn above $15,720. If you'll turn 66 in 2015, your benefit is reduced by $1 for each $3 you earn above $41,880 until your birthday month.
But when you reach your full retirement age, your benefit will be increased to make up for the money that was withheld earlier because of your earnings.
And you won't lose your late husband's Social Security benefit if you remarry. When a widow remarries after age 60, her new marriage has no effect on her entitlement to a survivor benefit based on her previous husband's work record. This is also true for widowers. All Social Security rules are unisex.
THE BOTTOM LINE If you haven't yet reached your full retirement age, there's an annual limit to the amount you can earn while simultaneously collecting a Social Security benefit.
WEBSITES WITH MORE INFORMATION nwsdy.li/earningstest and nwsdy.li/SocSec2015
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