Three Ways to Correct Your Social Security Benefits Mistake in Glendale

Did you make a mistake while filing for your social security benefits?

Do you wonder if there’s some way to rectify it?

If yes, don’t despair; you have three options for rectifying your mistake.

These three options are pretty easy to understand and follow. However, if you have any doubts, you can always turn to your social security benefits attorney in Glendale for help.

1. Return All Social Security Benefits Received to Date

Thanks to the COVID-19 financial crisis, not just you. Many people have opted to receive their social security benefits to help them out. It works as a tremendous financial bridge in these difficult times.

However, things may change if and when you regain employment after a few months. You may then decide it’s better to withdraw your social security benefits and use them later.

If you opt for this, first ascertain how long you have been receiving your benefits. If it’s less than 12 months, then you have the option to opt to withdraw your benefits. You, however, will have to return all benefits received. Doing so makes it look like you’ve never received any benefits in the first place.

However, remember that you can only withdraw your claim once, so do it with care. You will also have to provide an explicit written request to cancel the claim and not just suspend payments.

Also, remember that all family members who were receiving benefits have to repay if you withdraw your application. As it includes your ex-spouse, be ready for negotiations if you opt for a withdrawal.

Of course, you can always continue collecting your benefits and stay retired if you can’t find employment.

2. Make a Voluntary Suspension

You have the option of suspending your benefits upon reaching your full retirement age (FRA). It’s a more viable option if you can’t withdraw your benefits as you have already received benefits for more than 12 months.

A suspension lets you earn delayed credits for your benefits received at 8% a year till you become 70. There’s no need to provide a written request for a suspension. You can convey it through a phone call, and there’s no need to repay your suspended benefits.

Just remember that once you suspend payments, all family members also stop receiving their benefits. But there’s an exception here.

A suspension doesn’t affect your ex-spouse’s benefits.

3. Return to Working

The third option you have for rectifying your mistake is returning to work if you can work. Social Security will withhold your benefits if you earn more than a fixed level and haven’t reached (FRA).

This level is called the retirement earnings test exempt amount and depends on your earnings. Social Security will accordingly adjust your reduced benefits for each month of not receiving a check because of your earnings test.

You can understand the system better through this example.

Imagine a single woman loses her job at 62 and thus claims her social security benefits. But she later gets a decent-paying job in January.

However, according to the earnings test, she loses all her benefits from January 2021 to December 2023.

But she has a second earnings test when she reaches (FRA) in 2024. The results state that she doesn’t lose that year’s benefits because she reaches her (FRA). Accordingly, the Social Security Administration increases her benefits to reflect all her lost benefits.

The first earnings test applied before she attained (FRA). However, because of the second earnings test, she could undo most of the damage done by shutting benefits early. It’s because she could suspend her benefits at (FRA) and restart the benefits at age 70.

All thanks to her returning to work.

Are you confused? Don’t worry.

Your social security benefits lawyer in Glendale will help clarify things for you. They have years of experience assisting people in rectifying the mistakes made while filing for their social security benefits. They will help you out too.