I am assisting a couple (married for 30+ years) who are both 61 one years of age and trying to decide to take early benefits when they turn age 62. I have a question as I read Section 401 of the SS Handbook. http://www.ssa.gov/OP_Home/handbook/handbook-toc.html
I want to know if the husband (worked all his life) dies first, will the wife (didn't work much during her life) be entitled to receive his benefits.
Lets assume the husband dies when he is 75 and the wife does not remarry. Since the wife is over age 60 and doesn't remarry, she would be eligible for his benefits, correct?
What happens if she does remarry? (Probably receives 1/2 of her new husband or her own benefit?)
Last question: The rules for benefit reduction by claiming benefits before full retirement age (FRA) still apply correct? If the husband earns $14,000 when he is age 62 and $2,000 is considered excess earnings, then he loses $666 in benefits correct (2,000 / 3).
Then when he is age 63 and assuming excess earnings is still $2,000, he would lose $1,000 in benefits, correct? (2,000 / 2)
Given that his full retirement age is 66 and if
Thanks,
Glenn
