When 1 Spouse Passes

[oldsmoboat]

Hi, trying to guesstimate retirement.

Assuming we are both retired and both collecting SS.

I will have a retirement package from my employeer as well as SS.

My wife has SS.

I asssume if one of us passes, the SS of the deceased stops coming in?

TIA

[GailL1]

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@oldsmoboat wrote:

Hi, trying to guesstimate retirement.

Assuming we are both retired and both collecting SS.

I will have a retirement package from my employeer as well as SS.

My wife has SS.

I asssume if one of us passes, the SS of the deceased stops coming in?

TIA

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Just a few more comments -

If the surviving spouse is already receiving their own benefits based on their own work record but their benefit as a survivor is greater, an adjustment will be made by SS for the surviving spouse to get the higher benefit amount.  It cannot be done online - a trip to the SS office is necessary.

I assume that your pension is coming from your employment at a private company - meaning one in which you paid SS payroll taxes during your 30 years or so working years.  If otherwise, there maybe some other important considerations.

[oldsmoboat]

Hi,

Yes, my wife is currently collectingbut she retied at 62.

My retirement will come from a defined benifits package from a state agency.  I also paid into SS.

My SS income will be higher than my wife's.

[GailL1]

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@oldsmoboat wrote:

Hi,

Yes, my wife is currently collectingbut she retied at 62.

My retirement will come from a defined benifits package from a state agency.  I also paid into SS.

My SS income will be higher than my wife's.

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So just to be clear -

Scenario #1:  YOU paid into the Social Security system while working at your state agency and they matched your contributions just as a private employer does under the SS system ?

OR

Scenario #2:  You had another job, before, during or after your state employment, where you paid contributions into the Social Security system ?  If this is the case, how long did you work under this scenario?

The above is important for your retirement planning.  I am asking because of the

Social Security Windfall Elimination Provision.

Another link of explanation:

Social Security.gov - Information for Government Employees 

For survivors benefits for your wife - the WEP would not apply.

AARP 10/18/2019 - Spousal Benefits based on the record of a deceased WEP affected Social Security Re... 

Details are very important when planning for retirement benefits - especially this detail.

[Brightpool]

That is correct. When one spouse passes, all SSA benefits terminate except for the lump sum payment of $255 to help with final expenses. That is not a misprint. It's $255, paid only once.

Even the benefit during the month of death must be returned to the Social Security Administration.

After that, you will receive only your own, single Social Security benefit.

For more information, search on ssa.gov or call your local Social Security office on the phone.

I found a couple pages that might help: https://www.ssa.gov/planners/survivors/survivorchartred.html or https://www.ssa.gov/planners/survivors/ifyou.html.

Enjoy!

[oldsmoboat]

Wow.  Thank you.