Jul
29
2009
By jukebox_judy
Can I receive benifits while working and then when I make up to the limit of $14,160 stop the benifit and restart it the following year?
Not affiliated with the US Social Security Administration
Can I receive benifits while working and then when I make up to the limit of $14,160 stop the benifit and restart it the following year?
Not affiliated with the US Social Security Administration
Stopping retirement benefits
I have not seen the ability to turn retirement benefits on and off as you are seeking.
There is a way to essentially rescind your decision to take early benefits by filing a "Request for Withdrawal of Application" SSA-521 form :
http://www.ssa.gov/online/ssa-521.pdf
With this you can "undo" your decision to receive early benefits, but you'll have to repay all the benefits you received (but without interest).
Here are some details on this :
http://www.kiplinger.com/features/archives/2008/02/krr-tactics-for-takin...
Here are a couple other links that may be useful for this :
http://www.ssa.gov/pubs/10069.html
http://www.ssa.gov/retire2/retcalc.htm
Do checks get issued retroactively?
Does a person's social security benefits start the first day of retirement? How are the checks distributed?
Receiving Social Security retirement benefits
You will need to apply for and qualify for SS retirement benefits. You can do this online, or visit a local Social Security office. You will need documentation such as birth certificate, last year's W-2 etc.
Your monthly benefit increases as you delay the receipt of benefits, so no, benefits do not start "the first day of retirement".
Direct deposit of monthly payments into your bank account is preferred to check mailings.
Here are some details :
http://www.ssa.gov/pubs/10035.html#know
http://www.ssa.gov/deposit/