I’m always amazed by the number of emails I get from people who have been getting benefits for 10 years, or 20 years, or even more — and now they are coming to me with questions about their benefit amount.…
are coming to me with questions about their benefit amount. Or to be more precise, they are telling me some version of this lament: “I think I’ve been paid incorrectly for all these years!”
So anyway, that’s the message I usually deliver to these “grudge-niks.” But it usually doesn’t mollify them. They’ve told themselves for years that they’re being cheated out of benefits, and a simple statement from me telling them they are being paid correctly isn’t going to change their minds. A: There is nothing to fix. A wife is due the 50% spousal rate if she waited until her full retirement age to claim benefits. But you said you took benefits at 62. And if you do that, the spousal rate is more like 30%. And I bet that’s what you’re getting.
If you’d like a much better explanation, spend 10 bucks and get my book, “Social Security: Simple and Smart.” It includes a whole chapter on WEP. As with the WEP issue mentioned in the prior Q&A, it would take me a whole column to explain this so-called “notch” business. For those of you interested, I’ve got a new book coming out this year called “Social Security: 100 Myths and 100 Facts.” The “notch” is one of the myths explained in that book.
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