Filing for retirement Social Security

[natureman]

In my case, Csrs, i will get medicare A and decline B. I will b 65 nxt month and made an appt on the phone to sign up for A. I was told not to go to the ss office. I will carry fehb/pshb till death

That is what I did. I retired from federal service 14 years ago.

 

[Lukikus2]

Great thread. Should be a sticky as I will probably be asking the same question in a couple of years.

 

[trial&error]

If you were on active duty bring your dd214 when you file you can get an extra $12,500 credit for your active duty years. Thats not 12500 in your check, it bases the calculations on a higher income.

 

[oldfella1962]

If you were on active duty bring your dd214 when you file you can get an extra $12,500 credit for your active duty years. Thats not 12500 in your check, it bases the calculations on a higher income.

Whoa! Thanks for the info - Odds are they would have never told me about that unless I asked them about it.

 

[hipster dufus]

Just signed up for Medicare A and B this past thurs. Found out I will b getting a small ss check, more then enough to cover the B premium. Wiil apply for ss as soon as I get my Medicare card. Im receiving a Csrs pension and was quite surprised, I will ask about the veterans credit. Was relatively painless.im also fortunate to get a reimbursement on my B premium from my fehb/pshb insurance.

 

[Glenn2399]

The Veteran's Credit is supposed to be automatic. Not sure how to check if you are getting it.

 

[Oldstick]

Just signed up for Medicare A and B this past thurs. Found out I will b getting a small ss check, more then enough to cover the B premium. Wiil apply for ss as soon as I get my Medicare card. Im receiving a Csrs pension and was quite surprised, I will ask about the veterans credit. Was relatively painless.im also fortunate to get a reimbursement on my B premium from my fehb/pshb insurance.

I am glad to hear that HD. Sounds like you are in the green from now on as far as health insurance and medicare is concerned.

 

[oldfella1962]

The Veteran's Credit is supposed to be automatic. Not sure how to check if you are getting it.

Here is some info I found just now. As typical of all gub'mint info, it contains a level of ambiguity. It displays two different time periods, then it talks about the year 1980 (and month of September) which doesn't factor into either of these categories as far as I can tell. I began active duty in June of 1980 for whatever that means. Regardless, the maximum credit is 1,200 dollars per year, or a 100 a month in other words. I will bring my DD-214 to the SS office the day after my 62nd birthday and find out.

Benefits Planner: Retirement | Special Extra Earnings for Military Service | SSA

Military service members who spent time on active duty (or active duty for training) from 1957 through 2001 may have extra Social Security wage credits added to their earnings record. Read to learn more about eligibility.

www.ssa.gov

 

[Glenn2399]

Here is some info I found just now. As typical of all gub'mint info, it contains a level of ambiguity. It displays two different time periods, then it talks about the year 1980 (and month of September) which doesn't factor into either of these categories as far as I can tell. I began active duty in June of 1980 for whatever that means. Regardless, the maximum credit is 1,200 dollars per year, or a 100 a month in other words. I will bring my DD-214 to the SS office the day after my 62nd birthday and find out.

Benefits Planner: Retirement | Special Extra Earnings for Military Service | SSA

Military service members who spent time on active duty (or active duty for training) from 1957 through 2001 may have extra Social Security wage credits added to their earnings record. Read to learn more about eligibility.

www.ssa.gov

That doesn't mean you are going to get an extra 100 bucks a month. Your benefit is based on your lifetime earnings. That 1200 dollars is added to your lifetime earnings. It turns out to be not much of an added benefit but I guess every little bit helps.

 

[gahunter33]

Had to hit up the SS office myself after an early retirement. I brought along my ID, Social Security card, some military paperwork, our marriage certificate, and last year’s tax stuff. They didn’t warn me about needing some of those, but luckily, I overpacked. Turned out smoother than expected, but yeah, patience is key.

And if you're eyeing that semi-retired life, definitely give a Barista FIRE calculator a whirl. It was a game-changer for me, helped map out exactly how much part-time work or passive income I needed to keep the financial ship steady without burning through my savings too fast.

 

[oldfella1962]

That doesn't mean you are going to get an extra 100 bucks a month. Your benefit is based on your lifetime earnings. That 1200 dollars is added to your lifetime earnings. It turns out to be not much of an added benefit but I guess every little bit helps.

Oh I see. Thanks!

 

[oldfella1962]

Had to hit up the SS office myself after an early retirement. I brought along my ID, Social Security card, some military paperwork, our marriage certificate, and last year’s tax stuff. They didn’t warn me about needing some of those, but luckily, I overpacked. Turned out smoother than expected, but yeah, patience is key.

I agree - I bring everything any clerk would possibly want to see. I don't know how many times in my life I heard a clerk say "oh no, we need to see and Y. That other clerk told you wrong!"

 

[Glenn2399]

I applied for Social Security 14 years ago. I applied online in about 15 minutes. I was never asked for a single document. It appeared the government knew everything about me that they needed to know to start my benefits. Maybe things have changed.

 

[Dr. Strangelove]

You must apply within 60 days of your first becoming eligible or you will be penalized for the rest of your life when you do sign up.

It's a long time in the future (or not really, guess, I'm 50) but how does this work? When should one sign up for Medicare and what/why is the penalty?

 

[trial&error]

I think 65 is the mark and if your 50 it may very well change in 15 yrs. There is one part (C if I remember) that the rate you pay goes up the longer you delay. Keep talking to those that are retiring.

 

[Lukikus2]

I am at least looking for what I paid them back. In gold standard. That’s what I would have done with the money and be sitting pretty..,

 

[elfiii]

It's a long time in the future (or not really, guess, I'm 50) but how does this work? When should one sign up for Medicare and what/why is the penalty?

You become eligible for Medicare when you turn 65. You have 60 days from that date to apply or you will be penalized for life. The exception is if you are still working at age 65 and are covered by an employer sponsored health insurance plan. That stops the 60 day clock from running until you are no longer employed and covered by the employer sponsored plan.