At 54, I was recently riffed from a career that I've spent 30 years in; one that paid poorly, will result in a low Social Security payout and that I have no desire to return to. As my husband and I plan for retirement, I'm trying to make sense of recent changes in Social Security retirement rules. My husband has always made significantly more than myself and I'm debating whether returning to work will be of benefit, based on his earnings.
I was born in September 1963 and my husband was born in September 1962.
My question is if I file at my FRA, will my benefit be based on my husband's record or my own? If my husband waits to draw until age 70 will my benefit be adjusted to include the difference between my benefit and his?
Thank you

Hi,

Assuming that your husband is receiving his Social Security benefits when you reach full retirement age (FRA), if you file for benefits then you would receive the higher of a) your own full retirement age rate (PIA) or b) 50% of your husband's PIA. If your husband files later than you, you could potentially start out drawing your own retirement benefits and then receive additional spousal benefits when he files if 50% of his PIA is higher than your own PIA.

You may want to consider using the maximization software available on this website to obtain an accurate estimate of your and your husband's future benefit rates. The software will allow you to enter future years of projected earnings, which should enable you to gauge their potential effect on your future benefit rates.

Best, Jerry