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Question: 1
When will a policy trace report a rule processing result of âN/Aâ? (Choose the best answer.)
A. When the layer containing the rule is disabled
B. When the rule is not reached during evaluation
C. When the rule makes no sense for the specific transaction being processed
D. When the rule is contradicted by a subsequent rule
Answer: C
Question: 2
What is a component of a proxy service listener? (Choose the best answer.)
A. Encryption hash
B. Source IP address
C. Proxy mode
D. Proxy type
Answer: B
Question: 3
Which service is provided by the ProxySG? (Choose the best answer.)
A. Virus scanning
B. Strong authentication
C. Edge routing
D. Sandboxing
Answer: B
Question: 4
Which best describes BCAAA? (Choose the best answer.)
A. An intermediary between the ProxySG and an authentication server
B. An application that sends sysinfo snapshots to Symantec support
C. Symantecâs internal authorization and authentication service
D. A utility that allows a direct connection between the ProxySG and an authentication domain.
Answer: A
Question: 5
Which two (2) categories of traffic are typically left encrypted? (Choose two.)
A. Gambling
B. News Media
C. Social Media
D. Financial Services
E. Health
Answer: A,D,E
Question: 6
When must BCAAA be used? (Choose the best answer.)
A. When an administrator needs to establish more than one Schannel to increase performance.
B. When more than one ProxySG are deployed
C. When the ProxySG is unable to directly utilize APIs that require traditional operating systems.
D. When Basic credentials are used
Answer: C
Question: 7
Which type of object is a Notify User object in the VPM? (Choose the best answer.)
A. Destination
B. Action
C. Track
D. Source
Answer: B
Question: 8
Which two (2) situations might require a reverse DNS lookup? (Choose two.)
A. If the access log is enabled and a field in the access log requires a hostname
B. If both the primary and alternate forward DNS servers go down
C. If primary authentication fails
D. If a policy trigger event requires it
E. If a forward DNS lookup fails
Answer: A,D
Question: 9
What is the default TCP port for HTTP? (Choose the best answer.)
A. 20
B. 443
C. 80
D. 43
Answer: C
Question: 10
What is typically the biggest load on a CPU when managing encrypted traffic? (Choose the best answer.)
A. Emulating certificates
B. Using the SHA-2 hash function
C. Using RSA encryption
D. The need for redirection
Answer: A
Question: 11
How does an administrator create a single group in policy that includes multiple client addresses? (Choose the best
A. Create a combined policy object.
B. Include the addresses in a layer guard.
C. This can only be done using CP
D. Use a dedicated layer.
Answer: A
Question: 12
In which caching technique does the ProxySG open multiple server connections to retrieve objects referenced on a
web page before the client actually issues the requests for those objects? (Choose the best answer.)
A. Popularity contest
B. Cost-based deletion
C. Asynchronous adaptive refresh
D. Pipelining
Answer: D
Question: 13
Which service setting determines whether the traffic is passed to the SSL proxy or the HTTP proxy when a browser is
configured to use an explicit proxy connection to the ProxySG? (Choose the best answer.)
A. Enable SSL/TLS
B. Detect protocol
C. Authenticate-401
D. Forward client cert
Answer: B
Question: 14
Which two (2) locations is the WebFilter database stored in? (Choose two.)
A. At several data centers around the world
B. In the WebPulse data cache
C. On clientsâ mobile devices
D. On a properly licensed ProxySG
E. Symantec Management Center
Answer: A,D
Question: 15
What should an administrator utilize in policies to specify which traffic should be decrypted? (Choose the best
A. Listeners
B. URL categories
C. The SSL Proxy
D. All proxy services
Answer: A
Question: 16
Which log format is associated with the main log facility by default? (Choose the best answer.)
A. http
B. elff
C. main
D. bcreportermain_v1
Answer: D
Question: 17
Which two (2) errors are the most common certificate errors? (Choose two.)
A. The server does NOT recognize the ProxyS
B. The client does NOT trust the server.
C. The client does NOT trust the ProxyS
D. The ProxySG does NOT trust the server.
E. The server does NOT trust the client.
Answer: A,B,C
Question: 18
How does the ProxySG handle a rule that contains a syntax error when the ProxySG processes installed policy as part
of a client transaction? (Choose the best answer.)
A. The ProxySG changes the transaction status to Deny and makes an entry in the event log
B. The ProxySG stops processing of the layer containing the rule and continues with the next layer, if any
C. This is NOT possible; rules with syntax errors are unable to be installed.
D. The ProxySG skips the rule and does NOT change the accept or deny status of the transaction
Answer: A
Question: 19
How can an administrator determine the serial number of the ProxySG in the Management Console? (Choose the best
A. This information is not visible from the Management Console
B. Go to Statistics > Advanced
C. Go to Configuration > Network
D. The serial number is contained in the top right Management Console banner
Answer: D
Question: 20
Which kind of authentication credentials might Schannel congestion in IWA direct realms be an issue with? (Choose
the best answer.)
B. Surrogate credentials
C. Kerberos
D. Basic
Answer: B

Symantec Administration benefits - BingNews Search results Symantec Administration benefits - BingNews How Are Social Security Spousal Benefits Calculated?

If you're eligible for Social Security spousal benefits, how much you'll receive depends on a number of factors, including your age, the amount of your spouse's benefit, and whether you have other retirement benefits available to you. Who's eligible? Anyone whose spouse, ex-spouse, or deceased spouse was or is eligible for benefits, once you have reached the age of eligibility, is eligible.

The maximum amount you can receive is 50% of your spouse's full benefit. That's straightforward enough, but the precise amount you'll get and when you'll get it depends on several circumstances, including your spouse's age and work history, your own age and work history, and more. That leaves some room for you to maximize the amount you receive. And, remember, if that amount is less than the amount you'd get based on your own work history, you'll automatically get the higher amount.

Below, you'll find out if you qualify for Social Security spousal benefits and how to find out the amount you'll get. And, you'll learn the fate of a couple of once-popular spousal benefits loopholes in the Social Security rules. (Hint: It's not good news.) Nevertheless, if you know the rules highlighted in this article, you'll be able to maximize your Social Security spousal benefits.

Key Takeaways

  • The maximum spousal benefit is 50% of the other spouse's full benefit.
  • You may be eligible if you're married, formerly married, divorced, or widowed.
  • You can collect spousal benefits as early as age 62, but in most cases, the benefits are reduced permanently if you start collecting early.
  • If your own work history earns a higher benefit, you'll receive that amount rather than the spousal benefit.
  • In 2015, the federal government changed the rules on filing for Social Security spousal benefits, eliminating some claiming strategies that allowed couples to increase their benefits.

Who Qualifies for Social Security Spousal Benefits?

If your spouse has filed for Social Security benefits, you can also collect benefits based on the spouse's work record, if:

  • You are at least 62 years old.
  • Regardless of your age, if you care for a child who is entitled to receive benefits on your spouse’s record, and who is under age 16 or disabled.

When you apply for spousal benefits, you will also be applying for benefits based on your own work history. If you're eligible for benefits based on your own earnings, and that benefit amount is higher than your spousal benefit, that's what you'll get. If it is lower, you'll get the spousal benefit.

Image by Sabrina Jiang © Investopedia 2020

How Spousal Benefits Are Calculated

Spousal benefits are based on how much the other spouse would receive if that person began collecting benefits at the full or "normal" retirement age.

The Social Security Administration has an online calculator that can show you what percentage of your spouse's benefits you will be eligible for depending on your own age when you start receiving benefits.

The short answer to the calculation is this: You're eligible for half of your spouse's benefit amount as long as you wait until your full retirement age to apply. The earlier you file, the less you'll get.

Full Retirement Age

As you might expect, the "normal" retirement age is becoming later in life, but the changes to the Social Security rules are being phased in. It is age 66 for those born between 1943 and 1955. It increases gradually to age 67 for those born from 1955 to 1960. For those born after 1960, it's 67.

A Social Security online calculator shows you the percentage of your spouse's benefits you will get, based on your age when you apply.

No matter when your spouse actually retires, or if your spouse dies, that person's "normal" benefit amount is relevant to you in calculating your spousal benefit entitlement.

Claiming Early or Late

Your spousal benefit is based upon your partner's "normal" benefit amount. But the amount you receive will depend upon when you begin to claim it.

You can claim spousal benefits as early as age 62, but you won't receive as much as if you wait until your own full retirement age. For example, if your full retirement age is 67 and you choose to claim spousal benefits at 62, you'd receive a benefit that's equal to 32.5% of your spouse's full benefit amount.

The amount increases with each year you delay. At your full retirement age (67 in this example) you'd be eligible for the maximum, which is 50% of your spouse's full benefit.

Notably, spousal benefits are not reduced if the spouse is caring for a child who qualifies under the age or disability rules. Spousal benefits can never exceed 50% of the other spouse’s full benefit. So, there is no incentive to file for spousal benefits later than your own full retirement age.

An ex-spouse may be eligible for spousal benefits even if the former spouse hasn't retired yet.

If You're Receiving Other Retirement Benefits

The calculation gets a bit more complicated if you are eligible to receive benefits from a government pension or foreign employer that is not covered by Social Security. In that case, you may still be eligible, but the amount will be reduced.

For example, if you have a government pension for which Social Security taxes are not withheld, the amount of your spousal benefit is reduced by two-thirds of the amount of your pension. This is known as a government pension offset.

For example, suppose you are eligible to receive $800 in Social Security spousal benefits and you also get $300 from a government pension each month. Your Social Security payment is reduced by two-thirds of $300, or $200, making your total benefit amount from all sources $900 per month ($800 - $200) + $300).

Same-Sex Married Couples

Same-sex married couples have enjoyed the same rights as all other couples since the 2015 Supreme Court ruling affirming their constitutional rights to marriage recognition. And that means they're eligible for Social Security spousal and dependent benefits.

Social Security also recognizes some non-marital legal relationships such as civil unions and domestic partnerships.

The Social Security site urges spouses to apply for benefits if they think they may be eligible.

Divorced and Widowed Spouses

The rules for Social Security spousal benefits for divorced and widowed people are complex in order to cover all conceivable circumstances.

Spousal Benefits for Divorced Spouses

If you're divorced, you may be eligible for spousal benefits based on your ex-spouse's work record. The rules are much the same, plus:

  • Your marriage must have lasted for at least 10 years.
  • You must currently be unmarried.

If your former spouse hasn't filed for benefits yet, you can still file for spousal benefits if you have been divorced for at least two years.

If your ex-spouse is still living, in most cases you must be at least 62 years old and your spouse must be old enough to qualify for benefits. (Whether the ex-spouse is actually taking benefits or not doesn't matter.)

If your ex-spouse has died, your benefits are similar to those of a widow or widower.

Spousal Benefits for Widows and Widowers

A widow or widower can receive up to 100% of a spouse's benefit amount. That's if the survivor has reached full retirement age at the time of the application.

The payment is reduced to somewhere between 71% and 99% of the deceased's entitlement if the widowed person is at least 60 but under full retirement age.

Disabled people can apply as early as age 50. The agency has a streamlined application process to avoid delays in the first payment.

You may be eligible for benefits even if your spouse died long before reaching retirement age. Every employee racks up annual Social Security "credits" for working. If your spouse earned credits for at least 10 years, a spousal benefit has been earned.

It's important to note that it pays to hold off until you reach your "full" retirement age to maximize the amount you will receive.

Also, if you are receiving spousal benefits and your spouse dies, you need to notify Social Security. Your spousal benefit of 50% of your partner's benefit will convert to a survivor benefit of 100%.

And do it promptly. It's not usually retroactive.

Spousal Benefits Loopholes

You may hear or read about other ways to increase the amount of your spousal benefit. Unfortunately, under new Social Security rules, two popular strategies have been abolished.

The File and Suspend Strategy

Prior to 2016, workers could file for benefits (making their partners eligible to claim spousal benefits), then suspend their own benefits in order to maximize their credits for deferred filing. This so-called file and suspend strategy meant that a lower-income partner could take advantage of spousal benefits while the primary earner accrued delayed retirement credits, thereby increasing their benefit amount.

However, this "have your cake and eat it, too" loophole was closed with the Bipartisan Budget Act of 2015, which took effect in April 2016.

While it is still possible to file for benefits and then suspend payments temporarily, any other benefits that would normally be available on your account (such as spousal benefits) are no longer payable during such suspensions.

Deemed Filing

The 2015 law also stopped people born after Jan. 1, 1954, from double-dipping by claiming spousal benefits while accruing delayed retirement credits on their own accounts.

Previously, it was possible for those eligible for both types of benefits to claim spousal benefits first, while delaying a claim on their own account, a process sometimes called a restricted application. This allowed taxpayers to benefit from the earlier spousal payment while maximizing their own benefits through delayed retirement credits.

Under current law, spouses born after Jan. 1, 1954, are deemed to have filed for any and all benefits for which they are eligible as soon as they file for any of them. The payments they receive are based on whichever benefit amount is the highest.

Strategies for Maximizing Spousal Benefits

Every married couple has to figure out the best way to maximize their benefits depending on their own circumstances.

The three strategies below will help you make the most of your Social Security spousal benefits, depending on your circumstances. However, keep in mind that, regardless of your circumstances, the most a spouse can get is 50% of the amount that the higher-earning partner is entitled to at full retirement age.

1. Strategy for Late Claimers

If one partner has little or no earnings history, the best strategy is for the wage earner to postpone applying for Social Security retirement benefits until age 70 to get the highest amount possible. Full retirement age is 66 for most baby boomers and 67 for everyone born in 1960 or later, but by delaying claiming benefits until age 70, the wage-earner will accrue delayed retirement credits that will increase the monthly payments by 8% for each year of delay.

Keep in mind that this won't affect the spousal benefit amount. Spousal benefits differ from personal benefits when it comes to delaying payments. If you delay claiming for personal retirement benefits past full retirement age, the benefit increases over time, as explained above. However, that will have no impact on your spouse's benefits, since they max out at full retirement age (66 to 67). In other words, there is no benefit for your spouse in delaying the spousal benefit claim past your full retirement age.

On the other hand, if both partners work, and their earnings are more or less equal, their individual Social Security benefits will each be greater than the spousal benefit, so the best strategy for both is to postpone applying for benefits until age 70.

2. Strategy for Divorced Spouses

If you have been divorced for at least two years, you can apply for spousal benefits if your marriage lasted 10 or more years. If, on the other hand, you are still married and considering a divorce, and are near retirement age, try to apply for spousal benefits before your divorce is final. If you have been married and divorced multiple times, you can choose to receive whichever spousal benefit is highest. Saving your ex-spouses’ Social Security numbers and dates of birth will make the enrollment process easier.

3. Strategy for Widowed Spouses

Widows and widowers may receive full benefits at their full retirement age or reduced benefits as early as age 60, as explained in the sections above. Remarrying after age 60 will not affect your eligibility for survivors benefits. However, it may be more convenient for you to forego your widow or widower spousal benefits depending on your circumstances.

If your current spouse is also eligible for Social Security benefits and earns more than your former spouse, you may wish to apply for spousal benefits based on your new spouse’s record instead.

If you are collecting a survivor benefit, but also qualify for a benefit on your own, you may wish to collect a survivor benefit in the early years of retirement and leave your own Social Security benefits to accrue delayed retirement credits. Then, you can switch to your own retirement benefit as late as age 70.

How Do Social Security Spousal Benefits Work?

You're eligible for spousal benefits if you're married, divorced, or widowed, and your spouse is or was eligible for Social Security. Spouses and ex-spouses generally are eligible for up to half of the spouse's entitlement. Widows and widowers can receive up to 100%.

You can claim benefits based on your own work history or on that of your spouse. You'll automatically get the larger amount. (It's one or the other. You don't get both.)

If you are no more than three months away from age 62, you can apply online or by phone. If you plan to put off applying to get the largest payment possible, wait until you're no more than three months from full retirement age. That's 66 or 67, depending on your year of birth.

Can I Collect Half of My Spouse's Social Security at 62?

Not quite. The percentage of your spouse's Social Security that you receive starts at 32.5% at age 62 and steps up gradually to 50% at your full retirement age, 66 or 67, depending on your year of birth. The amount is based on your spouse's benefit at full retirement age.

The important point is this: Don't bother delaying past your full retirement age. The amount you receive won't grow beyond that age.

What Is the Maximum Spousal Social Security Benefit?

The maximum spousal benefit is 50% of the amount that the spouse is eligible to receive at full retirement age. That's a cap, by the way. If your spouse delays retiring until 70, the spouse gets more, but you don't.

Survivors may receive up to 100% of the deceased person's Social Security amount. There's a complicated formula for families in which more than one dependent is eligible for benefits. It caps the maximum.

How Can I Switch From My Social Security Benefit to a Spousal Benefit?

You can only switch from your benefit to the spousal benefit if your spouse has begun receiving retirement benefits and you are at least 62 years old (or are caring for a qualifying child).You can claim your benefit based on your work history until your spouse files, and then you can switch to the spousal benefit. However, if you're not at your full retirement age, you'll get paid a reduced spousal benefit, which can be as low as 32.5% of your spouse's primary insurance amount.

To monitor your benefits or change them, you can create an account on the Social Security site. It contains a wealth of information, and it allows you to make some changes online, although others require a phone call.

The Bottom Line

Maximizing your spousal Social Security benefits is all about the timing, and the timing is determined by your circumstances as a couple.

If both partners work, they should investigate what each partner's individual benefit will be. Unless one partner earns massively more than the other, it will probably pay for both to file individually, waiting at least to full retirement age, if not to age 70, if possible.

Correction—Feb. 14, 2022: A previous version of this article misstated the amount of the spousal benefit for a spouse retiring early at age 62.

Correction—Oct. 4, 2022: A previous version of this article misstated the timing of benefit eligibility for a spouse.

Thu, 08 Dec 2022 13:27:00 -0600 en text/html
Military and Veteran Benefits 2024 Military Pay Charts

Military pay will increase 5.2% for 2024, compared to 2023 levels, now that President Joe Biden has signed the new rate into law. These military pay tables apply to active members of the Navy, Marine Corps, Army, Air Force, Coast Guard and Space Force.

Sat, 01 Jan 2022 19:41:00 -0600 en text/html
Benefits Administration Software Market 2024 With Top Key Players is thriving worldwide


Published December 21, 2023

Benefits Administration Software Market Size 2024 | New Report (113 Pages) | In This Reports Benefits Administration Software Market and its business scene, significant issues, answers for relieving the upgrading risk, methodologies, future lookout, and possibilities, Other than the standard design reports, Top Benefits Administration Software Companies, with the best facts and figures, definitions, SWOT and PESTAL analysis, expert opinions and the latest trends around the world.

To know How COVID-19 and Russia-Ukraine War Influence Will Impact This Market/Industry – Request a sample copy of the report-:

Moreover, the Benefits Administration Software Market Report includes data on research and development, New product launches, product feedback from global and regional markets by key players. This structured analysis provides a graphical representation and strategic breakdown of the Benefits Administration Software market by region.

Who are the key players in the Benefits Administration Software market?

List of TOP KEY PLAYERS in Benefits Administration Software Market Report are: –

  • ADP
  • Workday
  • WEX Health
  • Benefitfocus
  • bswift
  • Namely
  • Zenefits
  • Paycom
  • EmpowerHR/Pay
  • Ceridian
  • PlanSource
  • Paycor
  • Gusto
  • BambooHR
  • BreatheHR
  • Zane Benefits

Get a sample PDF of the Benefits Administration Software Market Report [2024]



Benefits Administration Software Market Analysis and Insights

This report aims to provide a comprehensive presentation of the global market for Benefits Administration Software, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyse their position in the current marketplace, and make informed business decisions regarding Benefits Administration Software.

The Benefits Administration Software market size, estimations, and forecasts are provided in terms of and revenue (USD millions), considering 2024 as the base year, with history and forecast data for the period from 2017 to 2031. This report segments the global Benefits Administration Software market comprehensively. Regional market sizes, concerning products by types, by application, and by players, are also provided. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the Benefits Administration Software companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, product type, application, and regions.

What segments are covered Benefits Administration Software Market report?

Global markets are presented by Benefits Administration Software type and by application along with growth forecasts through 2031. Estimates on revenue are based on the price in the supply chain at which the Benefits Administration Software are procured by the companies.

This report has studied every segment and provided the market size using historical data. They have also talked about the growth opportunities that the segment may pose in the future.

Segment by Type – Benefits Administration Software Market

Segment by Application – Benefits Administration Software Market

  • Small Business
  • Medium-Sized Business
  • Large Business

Enquire before purchasing this report –

What is the Benefits Administration Software Market Share?

Benefits Administration Software Market Share by Company Type Report is designed to incorporate both qualify qualitative and quantitative aspects of the industry with respect to each of the regions and countries involved in the study. This report also provides a balanced and detailed analysis of the on-going Benefits Administration Software trends, opportunities/high growth areas, Benefits Administration Software market drivers which would help the investors to device and align their market strategies according to the current and future market dynamics.

The Global Benefits Administration Software Market Share report is provided for the international markets as well as development trends, competitive landscape analysis, and key regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analysed. This report additionally states import/export consumption, supply and demand Figures, cost, price, revenue, and gross margins.

Which region has the largest share in Global Benefits Administration Software Market?

Regional Outlook

This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue and sales data of each region and country for the period 2017-2031.

The market has been segmented into various major geographies, including North America, Europe, Asia-Pacific, South America, Middle East & Africa. Detailed analysis of major countries such as the USA, Germany, the U.K., Italy, France, China, Japan, South Korea, Southeast Asia, and India will be covered within the regional segment.

Regional Segmentation- Benefits Administration Software Market

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • The Middle East and Africa

Purchase this report (Price 3660 USD for a single-user license) –

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  • Strong qualitative and quantitative market analysis based on the segment breakdown within the consideration of both economic as well as non-economic factors.
  • Market evaluation based on market value (Data in USD Billion) for each segment breakdown.
  • Indicates of the region and segment breakdown that is expected to witness the fastest growth rate and acts as market dominant.
  • Analysis of geography highlighting, the region vice consumption of the product/service and an indication of the factors that are affecting the market within each region.
  • The competitive landscape encompasses the market ranking of the major market competitors, new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
  • The company profiles section provides an understanding of the company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
  • Current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions).
  • In-depth analysis of the market through Porter’s Five Forces Analysis.
  • Provides insight into the market through Value Chain.
  • The understanding of market dynamics scenario, growth opportunities of the market for the period of forecast.
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Wed, 20 Dec 2023 10:00:00 -0600 en text/html
Social Security Benefits

With another four years of Bidenomics, you can be certain that, at the individual and corporate level, a perpetuity tax on Social Security will become front and center.

Social Security beneficiaries are set to receive a 3.2% payment bump in 2024, but many recipients say the increase is not enough to offset high inflation.

Social Security checks are increasing next year thanks to the annual cost of living adjustments (COLA). However, the standard monthly cost of Medicare Part B will increase by $9.80, or 6%, to $174.70 in 2024, according to the Centers for Medicare and Medicaid Services (CMS).

Five Republican presidential candidates sparred during the third debate in Miami on Wednesday over how best to Excellerate the solvency of Social Security.

The Great Recession diminished the retirement savings potential of late Boomers, a study found. And cost adjustments to Social Security could be smaller next year.

Open enrollment is an annual period during which people can sign up for health insurance or change their plans.

A new ranking of world retirement systems conducted by Mercer gave the U.S. a C+ grade, citing concerns over its efficacy and long-term sustainability.

The 2024 Social Security cost of living adjustment (COLA) increase aligns with early estimates based on inflation figures for the previous three months.

The Social Security Administration on Thursday announced the cost-of-living adjustment for 2024 as retirees continue to confront unusually high inflation.

The Social Security cost-of-living adjustment for 2024 is expected to be announced this week, and beneficiaries may be in store for a smaller increase.

Social Security could run out of money to make full benefits payments in 2033, spurring as much as $23,000 in benefits cuts for retirees, a study found. Here’s what you need to know.

Social Security's trust funds are projected to be depleted by 2033, at which point retirees would see a significant cut to their benefits if the program isn't reformed.

The Social Security cost of living adjustment could increase to 3.2% in response to high inflation. But it’s far from the 2023 record raise and many Americans still struggle to generate retirement income.

Social Security recipients will soon find out what their cost-of-living adjustment is for 2024 – and the bump may be bigger than previously projected.

The average price of 25 prescription brand name drugs with the highest Medicare D spending increased by 226%, AARP reported. But provisions in the Inflation Reduction Act aim to lower the costs of Medicare coverage for retirees.

The 2024 Social Security COLA could rise to 3%, according to a Senior Citizens League estimate. That would be a drop from the 2023 adjustment of 8.7%. But retirees have options to reach a comfortable retirement.

Older Americans that retired before 2000 would have to earn an extra $516.70 more per month to maintain the same level of buying power as in 2000, according to a recent The Senior Citizens League study.

Most Americans (88%) said it is critical to have another source of guaranteed income beyond Social Security benefits to have a comfortable retirement, according to a recent Allianz Life survey.

The Social Security cost-of-living adjustment could be 3% in 2024, a big drop from last year, amid signs that high inflation is beginning to moderate.

A recent poll found that the majority of American adults are opposed to cutting Medicare or Social Security benefits. More than half are against raising monthly premiums for Medicare.

Mon, 18 Jun 2018 02:42:00 -0500 en-US text/html
New Leaders for VA Benefits Administration Mon, 21 May 2018 06:23:00 -0500 en text/html Social Security Payment Schedule 2023

When it comes to managing your life as a retiree, it almost goes without saying that you’ll need to keep abreast of the yearly Social Security tweaks and adjust your budget accordingly. However, with so much new information to keep track of, it can be easy to forget some of the smaller details, such as when benefit payments are distributed—especially considering that this answer isn’t exactly clear-cut and varies from person to person. As such, we have put together a Social Security benefits payment schedule for 2023, which can be found below.

Key Takeaways

  • Fifty percent of all older Americans reside in households where Social Security benefits account for at least half of their income, while one-quarter depend on their monthly payment for most or all of their earnings.
  • Depending on the day when a retiree was born, Social Security retirement, disability, and survivor benefits will be distributed on either the second, third, or fourth Wednesday of each month. Beneficiaries who received benefits before May 1997 will instead have their payments distributed on the third Wednesday of each month.
  • Approximately 64 million Americans began receiving an 8.7% cost-of-living adjustment (COLA) to their Social Security retirement, disability, and/or survivor benefits beginning in January 2023. Supplemental Security Income (SSI) benefits also will be affected by COLA. This is the largest cost-of-living adjustment since 1981 when it was 11.2%. The largest ever was 14.3% in the 1980s.
  • The 2023 COLA adjustment raised the total average benefit to $1,827 per month for individual retirees and to $2,972 per month for couples. The average disability benefit payment increased to $1,483 per month. Disabled workers with a spouse and one or more children will experience an increase to $2,616 per month. Widows and widowers will receive an increase to an average of $1,704 per month. Widowed mothers with at least two children will receive a much larger $3,520 per month on average.
  • Other major changes include the maximum amount of earnings subject to the Social Security tax will increase to $160,200. The earnings limit for still-employed beneficiaries who are younger than their full retirement age increases to $21,240. The earnings limit for beneficiaries who will reach their full retirement age in 2023 increases to $56,520.

Understanding Social Security Payments

Social Security, officially known as the Old Age, Survivors, and Disability Insurance (OASDI) program, provides monthly monetary benefits to qualified workers and their dependents (if any). It’s considered an entitlement program wherein employees, employers, and the self-employed finance these benefits with their Social Security taxes, which are then put into two Social Security trust funds. Eligibility and benefit amounts are based on an individual’s contributions to Social Security and work history (or that of their spouse/parent(s)).

The Social Security Administration (SSA) offers three types of Social Security benefits:

  • Retirement: This is the best-known variety of Social Security benefits. It's available to individuals age 62 or older who have worked a minimum of ten years. The amount someone receives in retirement benefits is dependent on their pre-retirement salary and the age at which they begin collecting benefits. Additionally, a retiree’s spouse (whether currently married or divorced) also may be eligible for Social Security retirement benefits, regardless of whether or not they have paid into the program.
  • Disability: People who are unable to work due to a disability are eligible for Social Security Disability Insurance (SSDI) benefits as long as they have worked a certain number of years beforehand. The amount of work required varies based on an individual’s age, while the monthly payment depends on their pre-disability salary. Like retirement benefits, SSDI also may be available for a retiree’s spouse (whether current or former).
  • Survivor: Survivor benefits are typically available for widows and widowers, qualifying divorced spouses, and the children of a deceased worker/retiree following their passing. The benefit amount varies based on the worker’s salary and age at death, in addition to the survivor’s age and relation to the deceased individual. An additional death benefit is also available, which is a one-time payment of $255 that is distributed to the spouse or children of a deceased retiree.

Supplemental Security Income

There is a fourth kind of benefit made available by the SSA, though it isn’t part of Social Security. Financed by general tax revenues, Supplemental Security Income (SSI) is a needs-based program designed to help those with limited income and resources who are unable to earn sufficient wages on their own.

Adults and children with disabilities, as well as individuals age 65 or older, are eligible to receive SSI benefits. The amount retirees are given depends on federal and state laws, which take into account their place of residence, who lives with them, and their other sources of income. No work credits are required, and those with enough work history may be eligible for both SSI and Social Security benefits.

Cost-of-Living Adjustments

Social Security benefit rates rise in tandem with the cost of living, as measured by the U.S. Department of Labor’s Consumer Price Index (CPI-W). This index is boosted by increased inflation rates that raise the cost of goods and services. To offset these costs and ensure that the purchasing power of Social Security benefits isn’t eroded by inflation, the SSA will issue what’s known as a cost-of-living adjustment (COLA).

According to a formula outlined in the Social Security Act, COLAs are based on increases in the CPI-W. Specifically, a COLA is equal to the percentage increase in the CPI-W from the average for the current year’s third quarter to the average for Q3 of the prior year in which a COLA was enacted. Increases must be rounded to the nearest tenth of 1%. Should there be no increase, or if the end result rounds to zero, no COLA is issued for that year.


Managing retirement benefits is an ongoing part of retired life. Therefore, it’s important to understand what you’re entitled to, stay up to date on program changes, and make certain that the SSA has your current information.

Payment Schedule for 2023

Approximately half of older Americans reside in households where Social Security benefits comprise a least 50% of their income, and 25% of this group depend on their monthly payment for the majority (if not all) of their earnings. As such, it’s important for retirees to be aware of when they will receive their benefits. While this is especially crucial to the 0.8% of beneficiaries who need to be on the lookout for a physical check each month, the remaining 99.2% still ought to know when their Social Security income is being direct deposited to ensure that they aren’t spending more money than they actually have.

Social Security retirement, disability, and survivor benefits are distributed on one of three Wednesdays each month for beneficiaries who began receiving benefits after May 1997. When a beneficiary receives their payments depends on their birth date, as described below:

  • If you were born between the 1st and the 10th, you will receive your Social Security payments on the second Wednesday of each month.
  • If you were born between the 11th and the 20th, you will receive your Social Security payments on the third Wednesday of each month.
  • If you were born between the 21st and the 31st, you will receive your Social Security payments on the fourth Wednesday of each month.

SSI benefit payments follow a different schedule. Specifically, SSI benefits are distributed on the first of each month. Should the first of the month fall on a weekend, then the new payment date will be the last Friday of the prior month. For 2023, there will be no SSI benefit payments in January, April, July, and October, while beneficiaries will receive their payments at both the beginning and end of March, June, and September.

Exceptions to the Payment Schedule

There are several cases where the default payment schedule isn’t followed, and Social Security benefits are paid at a different time. The current exceptions include:

  • Payment to children or spouses who receive benefits based on someone else’s work record will be paid on the same day as that primary beneficiary.
  • Benefits to individuals who also receive SSI due to disability, age, or blindness will be paid on the 1st of each month.
  • Individuals whose payment date falls on a federal holiday or weekend will be paid on the weekday immediately prior.

In addition, Social Security payments will automatically be issued on the 3rd of each month to individuals who:

  • Filed for benefits before May 1, 1997
  • Also receive Supplemental Security Income payments
  • Have their Medicare premiums paid for by the state where they live
  • Live in a foreign country

Getting Your Payments

The SSA began phasing out paper checks roughly a decade ago. Social Security benefits are now issued electronically. Individuals receiving benefits have a few digital options.

First, Social Security benefits can be distributed via direct deposit. Individuals can visit their local branch or contact their Social Security office to sign up. Individuals should be prepared to present their Social Security number, their financial institution’s routing number, their account number, and their account type (checking or savings).

Social Security benefits can also be awarded via a Direct Express card. A Direct Express card is a debit card that can be used to access benefits without the use of a bank account. Monthly benefits are deposited directly to the card, and individuals can use the card to make purchases. The Direct Express card can also be used at ATMs, banks, or credit unions to get cash.

The 8.7% COLA also applies to the approximately 8 million SSI payments that began being distributed on Dec. 30, 2022. Some beneficiaries will receive both Social Security and SSI benefits.

What If Your Payment Hasn’t Arrived Yet?

For several reasons, Social Security payments may sometimes be late. Those reasons can include but are not limited to:

  • Delays for initial Social Security benefits
  • Process slowdowns at the SSA
  • Updates to your personal information, such as your mailing address
  • Changes to your payment information, such as a new checking account
  • Inclement or severe weather

If your Social Security payment is late, contact the SSA immediately. For delays potentially caused by changes in your personal information, contact your local SSA office.

The SSA often issues notices of delays that collectively impact a region or a number of individuals. For example, the SSA may post updates on delayed payments in areas affected by severe weather. For delays potentially impacting other individuals, monitor SSA communication and media channels.

Consider waiting a few business days for nonemergency delays. Benefits, though not yet received when they should have arrived, may already be in transit and late due to the post office, bank, or SSA. Contact the SSA when you feel it’s appropriate, recognizing that it may request that you wait longer to ensure payment has truly gone missing.

Workers who have reached full retirement age or older for the entire year are not subject to a limit on earnings.

What Beneficiaries Can Expect in 2023

The SSA announced its annual changes to the Social Security program for 2023 on Oct. 13, 2022. More than 65 million Americans began receiving an 8.7.% COLA increase to their Social Security benefits beginning on Jan. 1, 2023. This represents the largest cost-of-living adjustment since 1981 and it is primarily due to a spike in inflation resulting from ongoing economic difficulties partially caused by the COVID-19 pandemic. The increase was 5.9% in 2022 and before that COLA averaged just 1.65% per year over the previous ten years while inflation remained low.

This increase amounts to more than $140 for the average retired worker, according to estimates released by the SSA. It raises their total benefits to $1,827 per month in 2023. Couples will experience an average benefits increase of $238 to $2,753 per month.

Disability benefit average payments increased by $119 to $1,483 per month. Disabled workers with a spouse and one or more children experienced an average $133 increase to $2,972 per month. Widows and widowers found that their average benefits increased by $209 to $2,616 per month. Widowed mothers with a minimum of two children received an average $282 increase to $3,520.

In addition to the COLA, several other major Social Security changes went into effect beginning in 2023:

  • The maximum amount of earnings subject to the Social Security tax, also known as the taxable maximum, increased to $160,200.
  • The earnings limit for workers receiving benefits who are younger than their full retirement age increased to $21,240. Recipients who go above this limit will have $1 of benefits deducted for every $3 earned above $21,240.
  • The earnings limit for still-employed beneficiaries who reach their full retirement age in 2023 increased to $56,520. Recipients who go above this limit will have $1 of benefits deducted for every $3 earned above $51,960 until the month they reach their full retirement age.
  • The retirement age for Social Security increased by two months each year until it reaches 67 for those born in 1960 or later. The full retirement age for anyone who turns 64 in 2023 is 66 and ten months.
  • The credit-earning threshold increased by $130 to $1,640 in earnings per credit for 2023.

What Is the Social Security Payout Schedule for 2023?

Social Security benefits will be paid on either the second, third, or fourth Wednesday of each month. Which of these three is chosen will depend on the day of the month when a retiree was born.

What Will the 2023 Cost-of-Living Adjustment (COLA) for Social Security Be?

Beginning in January 2023, an 8.7% COLA will increase Social Security benefits for more than 65 million Americans. Skyrocketing inflation amid ongoing economic difficulties caused by the COVID-19 pandemic have resulted in the largest cost-of-living adjustment in 41 years.

How Much Will Social Security Disability Insurance (SSDI) Be in 2023?

SSDI benefit payments increased an average of $119 to $1,483 per month for all disabled workers beginning in 2023. Those with a spouse and one or more children are benefitting from an average $209 increase to $2,616 per month.

When Does the Social Security Administration (SSA) Distribute Supplemental Security Income (SSI)?

Individuals who were born before May 1997—or who receive both Social Security and SSI—will receive a payment for Social Security on the third day of each month. Should the third of the month be a weekend, payments will instead be issued on the first Friday of that month. Payments for SSI (if applicable) will arrive on the first day.

Does Social Security Pay a Month Ahead or a Month Behind?

Social Security benefits are paid in the month following the month in which they are due. For example, Social Security benefits awarded in January are paid in February.

The Bottom Line

When it comes to Social Security, there are many rules and much detailed information to be mindful of. Even minor mistakes can have a noticeable impact on your life in retirement. Accidentally overspending on your weekly budget because you thought your monthly Social Security benefits had already been deposited shouldn’t be something you have to worry about, so consider marking the appropriate dates listed above on your calendar.

Wed, 15 Feb 2023 18:06:00 -0600 en text/html
Social Security Administration burdens seniors with push for clawbacks, lawmakers say

FIRST ON FOX: Lawmakers want to know why the Social Security Administration has reportedly erroneously overpaid benefits to millions of Americans and then hit beneficiaries with demands for repayment to the tune of thousands of dollars. 

A bipartisan letter sent by House members in the Ohio delegation presses Dr. Kilolo Kijakazi, the acting commissioner of the Social Security Administration (SSA), for answers on its efforts to claw back overpayments from Americans, many of whom did nothing wrong. Those affected are elderly or disabled people on a fixed income who may have their benefits frozen or cut until their debt is paid off. 

Rep. Mike Carey, R-Ohio, one of the lead authors, told Fox News Digital that for nearly a decade the Social Security Administration has hounded Americans impacted by errors made by the government as if they committed fraud on their end. 

"Seniors and disabled Americans living on fixed incomes are not criminals, and they don’t deserve to be treated like criminals by the federal government over a mistake — and I can’t stress this enough — that is not their fault, but rather the result of a bureaucratic mistake on the part of the federal government," Carey said. 


A Social Security card is displayed. Millions of Americans are contacted by the Social Security Administration each year and told they must repay benefits that were distributed in error by the government.  (AP Photo/Jenny Kane / AP Newsroom)

He shared that an Ohio constituent received a letter from the SSA in December 2021 saying their retiree benefits were miscalculated. 

"That constituent not only started receiving more money monthly, but the Social Security Administration sent them a check to cover what was retroactively owed through 2017," said Carey. "Then in August of this year, that constituent received a letter from the Social Security Administration saying that the initial miscalculation of their benefits was wrong. This constituent was told they now owed the Social Security Administration more than $7,500 in overpaid benefits, and they had only 30 days to pay it off." 


Lawmakers say that more than one million Americans are contacted each year about Social Security funds disbursed by mistake. In Congressional testimony in November, SSA Acting Commissioner Kijakazi said 986,912 Americans were reached with clawback letters in fiscal year 2023. 

However, a KFF Health News and Cox Media Group report based on a Freedom of Information Act request to the SSA found that Kijakazi understated the problem. The report said more than 2 million Americans annually are informed their Social Security checks were too big — more than two times the number Kijakazi told Congress. Beneficiaries have found out they owe the government tens of thousands of dollars, CBS reported, and are given a short window, often just 30 days, to pay it all back. 


Rep. Mike Carey, R-Ohio, told FOX Business that one of his constituents received a letter from the Social Security Administration demanding $7,500 in overpaid benefits be paid back within 30 days.  (Bill Clark/CQ-Roll Call, Inc via Getty Images / Getty Images)

Those impacted include the retired, disabled and people who rely on Social Security as their sole source of income. 

"Older and disabled Americans who have done everything correctly when filing for Social Security benefits but received overpayments through no fault of their own should not be penalized for erroneous mistakes made by the Social Security Administration," said Rep. Emilia Sykes, D-Ohio, the lead Democrat on the letter. 

"Our seniors rely on these payments to pay their bills and put food on the table — they can’t afford for the SSA to be making life-altering errors. This letter seeks to hold the SSA accountable and ensure all seniors receive the correct payments they deserve," she said. 

A spokesperson for Sykes said one of her elderly constituents recently reached out about an overpayment letter from SSA and that her office intervened to get the woman a refund. 

Rep. Emilia Sykes, D-Ohio, speaks during House Minority Whip Katherine Clarks news conference with freshman women of the 118th Congress at the House Democrats 2023 Issues Conference in Baltimore, Md., on Thursday, March 2, 2023. (Bill Clark/CQ-Roll Call, Inc via Getty Images / Getty Images)

In a statement to FOX Business, SSA spokeswoman Nicole Tiggemann said the administration does not have an exact figure for how many of the 67 million Americans who receive Social Security are impacted by overpayments. 

"Our overpayment systems were not designed to easily determine this information.  As part of the review directed by the Acting Commissioner, we are looking at how best to inform the Agency, the public, and Congress about this workload," Tiggemann said.


The Social Security Administration acknowledges that overpayment notices can be "unsettling" for beneficiaries. When a mistaken disbursement is detected, "We inform people about the fact and amount of the overpayment, their right to appeal, and the options to repay or, in some cases, receive waivers of the debt," she explained. 

"People have the right to appeal the overpayment decision or the amount. They can also ask Social Security to waive collection of the overpayment, if they believe it was not their fault and can’t afford to pay it back. We do not pursue recoveries while an initial appeal or waiver is pending," Tiggemann said.  

SSA reviews overpayments on a "case-by-case" basis and provides beneficiaries with "flexible repayment options" as low as $10 per month, Tiggemann added. She noted that overpayments represent only "one half of one percent" of the total $1.4 trillion in benefits Social Security will pay this year, an "extremely low percentage." 

While SSA has discretion to waive recovery of an overpayment if it is "against equity and good conscience," lawmakers expressed concern that beneficiaries who spoke to "60 Minutes" were unable to obtain a waiver.

"We have concerns that each of the beneficiaries who were interviewed for the 60 Minutes segment had requested an overpayment waiver from the SSA and were either continuing to appeal or had been paying the debts," the letter states. "However, after the 60 Minutes segment aired, all the debts for each of the recipients were waived. The system for who does and does not receive a waiver should not be based on national media coverage of their claims." 


The Social Security Administration initiated a comprehensive review of its overpayment process on Oct. 4, 2023. Tiggemann told FOX Business that the review is currently in its fact-finding stage and could not provide a time frame for its completion. 

"We will examine our policies and procedures — including our regulations — to determine where administrative updates to the overpayment recovery and waiver process may reduce the complexity and burden for the people we serve," she said. 

Fri, 15 Dec 2023 07:39:00 -0600 Chris Pandolfo en-US text/html
Can I Switch a Social Security Benefit to a Spousal Benefit?

can i switch from my social security benefit to a spousal benefit

Social Security benefits can provide you with a stream of retirement income that is reliable. Deciding when to take benefits is an important question, especially if you’re married and hope to qualify for spousal benefits. If you’re already taking Social Security, you might be wondering if it’s possible to switch to a spousal benefit later. The answer depends on whether your spouse is receiving Social Security benefits yet.

A financial advisor can help you figure out what you qualify for and when the best time is for you to start taking benefits as part of your full retirement plan.

How Do Social Security Spousal Benefits Work?

Calculating Social Security benefits as a married couple is a bit different than doing it as a single person. When someone files for Social Security benefits, their spouse may be able to claim a spousal benefit. The benefit is based on their spouse’s contributions to Social Security and is capped at 50% of their benefit amount at full retirement age. For example, if they were to receive $2,200 per month at full retirement age, their spousal benefit would max out at $1,100 per month.

In order to receive spousal Social Security benefits, you must:

  • Be at least 62, the earliest age at which you can receive Social Security benefits OR

  • Be a caretaker for a child under age 16 or a child who’s receiving Social Security disability benefits

  • Be married for at least one year to someone who has filed for their retirement benefits

When you apply for spousal benefits, the Social Security Administration calculates your benefits based on your own work and earnings record as well. If you’re eligible to receive your retirement benefit as well as spousal benefits, then you’d get the higher of the two.

If your spouse hasn’t filed for retirement yet, then you can’t get spousal benefits. You can, however, file for your own retirement benefits if you’re at least 62 years old.

Taking Social Security at age 62 will reduce your benefit amount, below the amount you’d be entitled to if you had waited until you reached full retirement age. Delaying benefits until age 70, on the other hand, increases your benefit amount.

If you’re claiming spousal benefits and filing before your full retirement age, then your benefit amount would be roughly 30% instead of 50%. The only exception is if you’re claiming spousal benefits and you’re a caretaker for a child under 16 or a child with disabilities.

Can I Switch My Social Security Benefit to a Spousal Benefit?

Switching from your regular retirement benefit to a spousal benefit is something you might be interested in if you’re hoping to maximize Social Security benefits. Whether you can make this switch is determined by whether your spouse is already receiving benefits.

If your spouse is not receiving any retirement benefits yet, then you could technically take your regular Social Security benefit as early as age 62. When your spouse files for their benefit later you could switch to spousal benefits. That could potentially increase the total amount of benefits you receive as a couple if they’re waiting until age 70 to start taking benefits.

What if your spouse is already receiving their Social Security benefits? In that situation, the deemed filing rule applies. That rule dictates that when someone applies for their regular retirement benefit, they’re also approved for spousal benefits if they’re entitled to receive them. So again, you’d get the higher amount of the two.

If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.

Deemed Filing and Spousal Benefits

can i switch from my social security benefit to a spousal benefit

The Social Security Administration implemented the deemed filing rule to prevent double-dipping. Prior to the rule, if spousal benefits were higher than an individual benefit, the person could receive a combination of benefits equal to the higher benefit. Deemed filing keeps spouses from receiving one type of retirement benefit while also benefiting from delaying another type of benefit.

There are some exceptions to this rule, which would still allow you to apply for spousal benefits independent of your own retirement benefit. You might be eligible for an exception if you:

  • Were born before January 2, 1954

  • Are caring for a child under 16 or a child with disabilities

  • Are eligible for Social Security disability benefits

If you’ve already taken your retirement benefits and your spouse is receiving a spousal benefit, they can opt to switch over to their retirement benefit instead if they were born before January 2, 1954. In that situation, you could then apply for an additional spousal benefit on top of your regular benefit once their benefits kick in.

When Should You Claim Spousal Benefits?

Timing matters when deciding when to claim spousal benefits. Again, taking benefits before full retirement age can reduce the number of benefits that you’re eligible to receive. However, delaying spousal benefits beyond full retirement age won’t increase the benefit amount, the way that it would regular retirement benefits.

When deciding how to time spousal benefits or retirement benefits, it helps to look at the bigger picture and consider:

  • Life expectancies and how long you and your spouse anticipate relying on Social Security benefits

  • Health and the possibility of one or both of you needing long-term care at some point

  • Other income sources, including investments, a 401(k) or IRA or money earned from part-time work or side jobs

  • Retirement budget and estimated expenses

Living longer, for example, might make delaying Social Security benefits more attractive. On the other hand, if you don’t have sufficient savings and investments then you might need the additional income that Social Security can provide sooner rather than later.

If you’re confused about when to take spousal benefits or whether you can switch your retirement benefit to spousal benefits, talking to a financial advisor can help. An advisor who’s well-versed in Social Security planning can help you to decide on the right time to claim those benefits.

The Bottom Line

can i switch from my social security benefit to a spousal benefit

It’s possible to switch your Social Security retirement benefit to spousal benefits if your spouse hasn’t filed yet. Whether it makes sense to do so can depend on your current ages and the ages at which each of you filed for benefits.

As a general rule of thumb, the longer you can delay filing for Social Security the better, as it can result in a larger benefit amount.

Retirement Planning Tips

  • Consider talking to your financial advisor about switching from your retirement benefit to spousal benefits if your spouse has plans to claim their own benefits. If you don’t have a financial advisor yet, finding one doesn’t have to be difficult. With SmartAsset’s free tool, matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

  • Talking to your advisor can also help you to come up with a strategy for coordinating Social Security alongside other sources of income, such as a pension plan, annuity, 401(k) or government retirement benefits. Deciding when to tap into each income stream can affect your tax situation so it’s important to understand the best order for drawing down assets. An advisor can also offer advice on how to claim Social Security benefits as an ex-spouse if you’re now divorced.

©, ©, © Stanojkovic

The post Rules for Switching Social Security Benefits appeared first on SmartAsset Blog.

Fri, 29 Dec 2023 21:12:00 -0600 en-US text/html

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