Retirement bottom line: Many will have to work until 70

[happyslug]

26. May or may not, depends on 20 CFR § 404.403 (d)

20 CFR § 404.403 (d) simply state that the numbers used in 20 CFR § 404.403 (c) is the base for the mandated increase in Social Security due to inflation. Thus I am listing 20 CFR § 404.403 (c) to show the MAXIMUM amount the survivor's benefit can be.

(c) Eligible for old-age insurance benefits or dies in 1979. If an insured individual becomes eligible for old-age insurance benefits or dies in 1979, the monthly maximum is as follows—

(1) 150 percent of the first $230 of the individual's primary insurance amount, plus

(2) 272 percent of the primary insurance amount over $230 but not over $332, plus

(3) 134 percent of the primary insurance amount over $332 but not over $433, plus

(4) 175 percent of the primary insurance amount over $433.

These are the maximum total outlays can be. In the Regulations it is possible to have several survivors who are entitled to benefits, but if the total exceeds what is permitted under 20 CFR § 404.403 (d), all will be reduced to keep the total below that max.

For a complete copy of the actual regulation see:
20 CFR Part 404, Subpart E, 20 CFR § 404.401 et seq.

http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr;sid=0ad68dbfda5cb91ad7fa4faeab224e61;rgn=div6;view=text;node=20%3A2.0.1.1.5.5;idno=20;cc=ecfr