r2i forum

Posted: **Fri Jan 26, 2007 4:14 pm**

Link to original thread: Question on 40 SS credits

From: gujju (Original Message)Sent: 6/16/2005 6:00 PM

When we r2i I will have completed 40 SS credits but my wife will not have. What is the difference in the SS payments between only the husband completing the 40 credits vs. both husband and wife completing 40 credits ?

If our lifetime earnings are the same after finishing 40 credits, does it mean that the SS payouts for one spouse alone will be half of what both spouses get when we turn 67 ?

gujju

Standard disclaimers of SS not surviving for long apply and have been taken into consideration.

Posted: **Fri Jan 26, 2007 4:15 pm**

From: rasiSent: 6/16/2005 8:43 PM

Very little of the soc security money is going to come to the averae desi software engineer.

Sorry to disappoint you.
They are raising the retirement age

Don't base your R2I on it.

Posted: **Fri Jan 26, 2007 4:16 pm**

From: bmukherjiSent: 6/17/2005 1:10 AM

#1
01. Spouse H has 40 credits and gets X amount of social security at retrement age
02. Spouse W has 40 credits and gets Y amount of social securoity at retrement age
03. Per current rules and assuming X>Y, W would be eligible for Max(Y, X/2) even with 0 credit
04. In a 1040NR fuling,income tax@ 30% on 85% of the SS payment

Posted: **Fri Jan 26, 2007 4:16 pm**

From:

Action_Jackson8710Sent: 6/17/2005 9:27 AM

bmukherji,
Isn't point 03 only true after spouse H has died? Or does the spouse get the benefits even while H is alive?

Posted: **Fri Jan 26, 2007 4:16 pm**

From: melSent: 6/17/2005 10:40 AM

Talking about SS credits or lack there of, could we set up one's own company that pays both the employers and employees part of SS after R2I'ing. That way you can add some more credits after you R2I, in case you don't have the 40 or if US govt raises the requirement of credits. Basically this will be a US company, paying US taxes but you work in India. I think this should be possible especially for USC or am I just totally on a different planet.

- Mel.
PS: Standard disclaimers of SS being a useless ponzi system and is there any point in contributing to such a useless system applies.

Posted: **Fri Jan 26, 2007 4:17 pm**

From: bmukherjiSent: 6/17/2005 10:44 AM

#4
No. Need to be at the retirement age for full benefit.
Partial benefit available as early as age 62.
A widow or widower is eligible to receive benefit as early as age 60

Posted: **Fri Jan 26, 2007 4:17 pm**

From: pjigarSent: 6/17/2005 11:21 AM

#5, I know poeple who has done this for their parents and their parents are now getting SS benifits!! Parents lived in US just to maintain their GCs!!

And offcourse the company does not have to be yours, you can have "any" company that can pay SS taxes. (Friends, relatives, body shoppers, ...) ;)

Posted: **Fri Jan 26, 2007 4:18 pm**

Sent: 6/17/2005 1:14 PM

This message has been deleted by the manager or assistant manager.

Posted: **Fri Jan 26, 2007 4:18 pm**

From:

return_2_indiaSent: 6/20/2005 1:49 AM

If India signs the social security agreement with US ( like many European countries), then even your Indian service could be counted to reach the required 40 credits.

But ultimately, seriously even USC or GC or NRA should not count on SS benefits to really live it...

Posted: **Fri Jan 26, 2007 4:19 pm**

From:

return_2_indiaSent: 6/20/2005 1:50 AM

also taking benefits at 62 is often poor idea ( unless your family history has an exceptionally low life span

) .