A technical overview of every subject we cover. No prior knowledge required.
Your benefit is based on your Average Indexed Monthly Earnings (AIME) and converted to a Primary Insurance Amount (PIA) using a progressive bend-point formula. We explain how SSA calculates your top 35 years of earnings, why zeros hurt, and how delayed credits increase your PIA by 8% per year from Full Retirement Age to age 70.
Filing at 62 produces a permanently reduced benefit. Filing at 70 produces the maximum. The break-even point is typically age 78-82. We walk through the math for early, full, and delayed filing and discuss how health, spousal income, and tax exposure affect the optimal decision.
A non-working or lower-earning spouse may receive up to 50% of the higher earner's PIA. This benefit does not increase beyond Full Retirement Age. We cover eligibility requirements, the interaction between spousal and own-record benefits, and the elimination of File-and-Suspend strategies under the Bipartisan Budget Act of 2015.
A surviving spouse may collect up to 100% of the deceased's benefit, including any delayed credits earned. Survivor and own-record benefits cannot be collected simultaneously; we explain the sequencing strategy that maximizes lifetime household benefits.
If you were married for at least 10 years and are currently unmarried, you may claim a spousal benefit on your ex-spouse's record without affecting their benefit or their current spouse's benefit. Many divorced individuals are unaware this benefit exists.
If you claim Social Security before Full Retirement Age while still working, SSA withholds $1 for every $2 earned above $22,320 (2024 threshold). This is not a permanent penalty; withheld benefits are recalculated and credited after FRA. We explain how this affects early claimers who return to work.
Up to 85% of Social Security benefits are taxable depending on your provisional income (AGI + non-taxable interest + 50% of Social Security). We explain the 50% and 85% thresholds, how IRA withdrawals push benefits into taxation, and how strategic Roth conversions can reduce your taxable benefit permanently.
Income-Related Monthly Adjustment Amounts (IRMAA) add surcharges to Medicare Part B and Part D premiums for beneficiaries whose Modified Adjusted Gross Income exceeds threshold levels. A single large IRA withdrawal or Roth conversion in the wrong year can trigger a multi-thousand-dollar annual penalty. We cover how to plan around this.
SSI is a needs-based federal benefit for low-income individuals who are aged, blind, or disabled. The 2024 federal benefit rate is $943/month for individuals. SSI has strict asset limits ($2,000 individual/$3,000 couple), income exclusions, and in-kind support rules that determine eligibility. We cover how Social Security retirement benefits interact with and reduce SSI, and how to navigate the transition from SSI to Social Security retirement at age 62 or later.
SSDI beneficiaries under Full Retirement Age automatically convert to retirement benefits at FRA with no gap in payment. However, the Trial Work Period (TWP) allows SSDI recipients to test their ability to work for up to 9 months without losing benefits. Substantial Gainful Activity (SGA) limits apply. We explain the TWP, the Extended Period of Eligibility, and what earnings thresholds trigger benefit suspension.
The SECURE Act of 2019 eliminated the stretch IRA for most non-spouse beneficiaries. Inherited IRAs must now be fully distributed within 10 years of the owner's death. If the original owner was already taking Required Minimum Distributions (RMDs), the IRS requires the beneficiary to continue taking annual RMDs through year 9, with full distribution in year 10. Failure to comply triggers a 25% excise tax on the shortfall. This rule disproportionately affects middle-income heirs who do not realize they are sitting on a ticking tax obligation. We walk through the rules, the exceptions (spouses, minors, disabled beneficiaries, chronically ill individuals, beneficiaries within 10 years of the decedent's age), and distribution strategies to minimize tax exposure.
Public-sector employees who receive a pension from non-Social Security-covered employment (common in state and local government) face a modified benefit formula that reduces their Social Security PIA. The reduction can be as high as $587/month (2024). The Social Security Fairness Act of 2024, signed into law in January 2025, eliminated WEP and GPO for affected workers. We explain what this means for current and future retirees.
The Government Pension Offset reduced spousal and survivor Social Security benefits by two-thirds of a government pension from non-covered employment. Like WEP, GPO was eliminated by the Social Security Fairness Act of 2024. We explain who qualifies for retroactive benefit restoration and how to file for adjustments.
SECURE Act 2.0 raised the RMD starting age to 73 (rising to 75 in 2033). RMDs are calculated annually based on account balance and IRS Uniform Lifetime Table divisors. Missed RMDs trigger a 25% excise tax, reduced to 10% if corrected within 2 years. We explain how RMDs interact with Social Security taxation, IRMAA, and bracket management strategies.
All topics are presented as factual education. We cite SSA publication numbers, IRS regulations, and SECURE Act statutory references where applicable. We do not provide individualized tax, legal, or financial advice at workshops. When a question requires professional guidance, we say so and, where appropriate, may refer attendees to qualified CPAs, estate attorneys, or licensed financial advisors. All referrals are made at attendee request or where the Foundation believes a referral is genuinely in the attendee's interest.