Social Security And Other Government Benefits Flashcards

1
Q

When can an ex-spouse receive Social Security Benefits based on their ex’s earnings?

A
  1. Married 10 years or longer
  2. Ex is eligible for social security
  3. Own earnings are not greater than half of ex’s
  4. Age 62 or older
  5. Not currently married
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

True or False:
Receiving social security benefits based on the ex’ earnings reduces the amount the ex receives by half?

A

False

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

True or False:
You are not eligible to receive earnings on your ex’s earnings until they begin receiving social security benefits?

A

False

You can begin at age 62

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

When can an ex-spouse receive widow’s social security benefits based on their ex’s earnings?

A
  1. Married 10 years or longer
  2. Ex was eligible for social security
  3. Own earnings are not greater than half of ex’s
  4. Age 60 or older
  5. Not currently married
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

True or False:
A widow’s remarriage after age 60 will not prevent them from being entitled to widow’s benefits on their prior deceased spouse?

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

True or False:
The offset for a government pension that is not covered by social security is a reduction of $2 for every $3 of the government pension

A

True

Social Security - (2/3 x pension)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Social Security Tax Maximum Income

A

$168,600

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

When can you start collecting your own social security benefits

A

Not until age 62

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is the penalty for not providing your social security number for spousal support or other support

A

$50

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Monthly social security deduction calculation

A

(Gross salary x 26) /12 x 6.2%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Spousal social security

A

Half of ex-spouse benefit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly