social security benefits from both parents??

[fac]

Hi Everyone,

I tried to google but am not able to find a definite answer...I think someone on this board may know the answer....
Say if a parent retires, his/her child will receive child benefit which can range from 50% to no more than 150% to 180%. But what if both parents retire, will the child receive social security benefits from the father and mother ?? or just one parent?

thanks

 

[barkley]

his/her child will receive child benefit which can range from 50% to no more than 150% to 180%

this is my understanding from the social security website as well as what happened w/ours when dh started drawing ss (I was already receiving)-a child's benefit is no more than 50% of the parent's unreduced benefit. if both parents receive s.s. the child will get the 50% figure from whichever of their parent's has the highest unreduced benefit.

the 150-180% figure is for a maximum family benefit-so if there is more than one child (or a child and an eligible spouse drawing from one person's record) their combined benefit cannot exceed 150-180% of the unreduced benefit.

as an example-

dad retires w/2000 unreduced benefit. w/one child-child receives $1000. w/2 children (or a child and an eligible spouse whose drawing from 'dad's' record) both would be eligible to $1000, but $1000 x 2 = $2000 which combined with dad's benefit of $2000 exceeds 150-180% so kid/mom would get a reduced amount each to keep the maximum family benefit under the threshold.


there's a calculator on the social security website-"formula for maximum family benefit" that can give you a rough idea of how much any beneficiaries will draw.

 

[fac]

thank you. that means a child cannot get 50% from dad and 50% from mom, right?
Say what about if there are two children, and for the example above, when dad retires, both children each cannot draw 50% (that will mean $1000 each for a total of 200% for the family), but what about both parents retire, can one child draw 50% from dad and the the second child draw 50% from mom?

 

[Alexle2007]

No

 

[seasheller]

Now I will have to go check this out. I thought children only got social security benefits when the parent dies.

 

[fac]

Now I will have to go check this out. I thought children only got social security benefits when the parent dies.

you should. In fact, based on some financial advisors, it is a reason why sometimes it makes financial sense for a person to draw SS at 62 (or 63??) instead of 66

 

[DawnM]

Are you talking about minors?

http://www.ssa.gov/planners/retire/yourchildren.html

 

[barkley]

thank you. that means a child cannot get 50% from dad and 50% from mom, right?
Say what about if there are two children, and for the example above, when dad retires, both children each cannot draw 50% (that will mean $1000 each for a total of 200% for the family), but what about both parents retire, can one child draw 50% from dad and the the second child draw 50% from mom?

correct-the child cannot draw 50% from each parent at the same time.

not according to my experience-when I retired my kid's benefit was just based on mine, then when my dh retired b/c he had a higher unreduced benefit the kid's benefits were shifted so they drew based on dh's. if both parents are receiving social security retirement or ssd-disability the kids will draw from the parent w/the higher unreduced benefit-you can't choose to put one child under one parent and the other under another to draw a larger total family benefit.

Now I will have to go check this out. I thought children only got social security benefits when the parent dies.

a minor (and in the case of an 18-19 year old who is still in f/t high school but will graduate w/in a certain time period) can draw based on their parent's receiving social security retirement or social security disability (ssd NOT ssi). when someone applies for either they are asked during the process if they have any children (at least it was part of the process when i applied and dh subsequently applied) so that children's benefits can be set up upon granting of the application.


there are a number of calculators on the social security website where people can find out what they/their spouse/an ex spouse who meets the criteria to draw/their eligible children can draw under a number of different scenarios.

 

[tvguy]

So much has changed with Social Security and Children. I didn't get a penny when my dad retired, but did get benefits until age 21 after he died because I was still in school.
Now those benefits end at age 18.
Both Parents would have had to been pretty old when their had (or adopted) their kids for the kids to have both parents retired while the kids are still minors.

 

[barkley]

So much has changed with Social Security and Children. I didn't get a penny when my dad retired, but did get benefits until age 21 after he died because I was still in school.
Now those benefits end at age 18.
Both Parents would have had to been pretty old when their had (or adopted) their kids for the kids to have both parents retired while the kids are still minors.

I was a late in life baby for both my parents (dad was almost 50 when I was born). I think when he retired he received via his ss check an amount that was designated for my benefit b/c I remember in high school him and my mom telling me they got x amount of money from ss for me each month. I never got an actual check in my name until he passed away when I was 19-and I was among the last group of beneficiaries to get it beyond high school. the rules changed sometime after I was 21 b/c prior to the change I was eligible (if I was attending college) until age 22 but with the change my benefits stopped during my 21st year.

these days it's all kept separate-parent's allotment, spouse's (if eligible), each kid-all individual checks or direct deposits.