Opinion

Dear Rusty: Both my wife and I have worked our entire lives. When we retire, will we both be entitled to full benefit amount each, or will there always be a spousal factor in there? Also, how are those benefits calculated - based on your highest salaries throughout your career, or your ending salaries when you retire? Signed: Looking Ahead Dear Looking: Prior to retiring from work is a smart time to investigate how Social Security will fit into your golden years. To answer your second question first, each person’s personal SS retirement benefit is based on the highest earning 35 years over their entire lifetime, with earlier years adjusted for inflation. The person’s Average Indexed Monthly Earnings (AIME) - essentially the person’s lifetime average inflation-adjusted monthly earnings amount - is first determined. Using AIME, the person’s Primary Insurance Amount (PIA) is calculated using a special benefit formula which will yield a PIA of about 40% or less of the person’s AIME. The PIA is the amount received if benefits start in the month full retirement age or “FRA” is attained (as you can see, Social Security likes acronyms).

h A total of $18 billion in property tax cuts were approved by more than 80% of voters in the November general election and should be reflected in property tax bills that are due by Jan. 31.

Two long-time friends--Sue Gressett and Gary Dyer--regularly post items that are informative, encouraging, clarifying and amusing on Facebook. When I see their items, I read them carefully, knowing I will be the better for it.

Dear Rusty: I turned 65 earlier this year, and I still work full time. I was divorced four years ago after 38 years of marriage, but my ex-husband has been collecting Social Security for at least 10 years now. Can I start collecting Social Security and still work full time? And can I collect my ex-husband’s amount if it is more than mine (and what is the best way to achieve this)? When I went to my local SSA office, they said they had no way of knowing that. Signed: Working Divorcee Dear Working Divorcee: Although you are eligible to claim Social Security at age 65, because you are working full time you may wish to wait a bit longer to do so. That’s because Social Security has an “earnings test” which applies to anyone who collects benefits before full retirement age, and you have not yet reached yours.

The State of Texas is known far and wide for its citizens’ love of football. Taken a step further, names of school mascots can cause head-scratching and sometimes absolute disbelief when their plural names are discovered.

Dear Rusty: I started collecting Social Security at age 62 earlier this year. I had an opportunity to partner in a new business this year that will allow me to earn about $200,000 in 2024. Because this is significantly above the allowed earnings when collecting early benefits, I need advice on how I handle this with the Social Security Administration. Am I supposed to call them and advise them of my change in income for 2024? If so, am I going to be penalized in any way? I expect they will stop all payments in 2024 once I alert them to the change. Will I be eligible for Social Security payments when I retire again? This is planned to take place before I reach full retirement age of 67. For information, my 2023 income will not exceed the 2023 allowable income limit. Signed: Un-retiring Temporarily.

A half-dozen lawsuits challenging the 13 approved Texas constitutional amendments appear to be dead in the water, The Dallas Morning News reported. The secretary of state’s office last week declared the propositions approved and now a part of the Texas Constitution, while Gov. Greg Abbott canvassed the election and certified the results. One proposition that would have raised the retirement age of judges was rejected by voters.

Dear Rusty: My wife (born May 1962) and I (born April 1963) are retired and will soon be looking to start collecting our Social Security as we each hit 62. As this is new to us, I’m wondering what things we may need to be aware of or consider as we get closer to her 62 birthday in May. Any advice or information will be appreciated! Signed: Planning Ahead Dear Planning: If you and your wife are both retired from working and have decided to start your (reduced) Social Security as soon as you are eligible at age 62, then there is nothing you need to do in advance of applying. The Social Security retirement benefit amount for each of you will be determined by your individual lifetime earnings record and your age when you claim. If either of you will be eligible for a spousal boost from the other, that will be automatically applied when both of you are collecting.

h The Texas Supreme Court heard oral arguments last week in a case that could decide whether medical exceptions to the state’s abortion ban are written clearly enough to protect pregnant women who face serious health risks, the Austin American-Statesman reported. The 22 plaintiffs include women who contracted sepsis while waiting to terminate a nonviable pregnancy, and women who traveled hundreds of miles for abortions of a nonviable twin in order to protect the healthy fetus.

Irony’s definition has been stretched to the breaking point for me. Verily, Humpty-Dumpty’s nursery rhyme about his “wall fall” pales greatly when compared to the fallout of a deposed football coach who had a “falling out” with his employer.