Social Security Question
Is it still possible to file for Social Security at the FRA but defer payments while the spouse takes the spousal benefits until she reaches her FRA? Then at 70 years old, take the full retirement.
Is it still possible to file for Social Security at the FRA but defer payments while the spouse takes the spousal benefits until she reaches her FRA? Then at 70 years old, take the full retirement.
Permalink Submitted by [email protected] on Mon, 2017-03-06 21:23
File and suspend in order to allow spousal to claim spousal is no longer available if they did not file/suspend prior to 4/30/2016. Once someone suspends, all that are on claim under that record will also suspend. What is available is for one to claim benefit and the other to file restricted for spousal only, provided the one filing restricted was 62 or over by end of 2015. So, if the lower income earning spouse files for own benefit at FRA, then the higher income earning spouse could file restricted for spousal and let their own benefit earn DRC to age 70. Once they claim their own at 70, the lower income earning spouse would then get a spousal add-on. This strategy requires that the person filing restricted was 62 or over at end of 2015. -m
Permalink Submitted by Richard Partin on Tue, 2017-03-07 14:19
This looks good. I was born in 1953. My wife can take her FRA at 66 and I can take spousal benefits then/. When I become 70, then I will take mine. Her benefits may be more than her spousel benefits at that time. Thanks for the reply. I just want to make sure this is right?
Permalink Submitted by [email protected] on Tue, 2017-03-07 16:16
You’re saying she will file for her own benefit at FRA (66), at which time you will File Restricted in order to claim spousal only. Then, when you reach age 70, you will file for your own benefit. She may or may not get more due to now being eligible for spousal. If her own benefit is more than 1/2 your PIA, she will not get a spousal add-on.