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Social security clawback

By Terry Savage on April 06, 2024 | Financial Planning / Retirement

Just an FYI per your conversation on WGN. My husband’s last social security payment was held back. SS did not do it, it was the bank. I had to get a document from SS stating they nor the Treasury Dept. Claimed any back. It was my husband’s payment from the month before he passed. The bank had to return the funds to me.

Terry Says

With Social Security, each payment received represents the previous month’s benefits. So if a person dies in January, the check for that month — which would be paid in February — would need to be returned if received.
Timing is everything!

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