I missed some of the info about the new social security changes, and my question is this. I am currentlly 59, born in 1956. My wife if 18years is only 42 at this time. I have always been the higher earner as of right now. Will the new law changes affect her being able to recieve any widow's benefits or spousal benefits if I should pass before she turns 55?

Hi,

No, the new law doesn't affect your wife's options if you die before she turns age 55. In that event, she would still retain the option of filing for reduced widow's benefits at age 60, then switching to her own account as late as age 70. Or, she could start reduced benefits on her own account at age 62 and then file for unreduced widow's benefits at her full retirement age. Those options were not changed by the new law.

What the new law did, however, was eliminate the ability for one member of a couple to file for just spousal benefits at full retirement age, while accruing delayed retirement credits on their own record until age 70. So, if you're still living when your wife is old enough to file for retirement benefits, her application will be deemed to be for both spousal benefits and for benefits on her own account.

One thing I should mention is that your choice of when to start drawing Social Security benefits could have a direct impact on your wife's future potential widow's benefit. If you draw reduced retirement benefits at age 62, it will have the effect of capping her highest potential widow's rate at 82.5% of your full retirement age benefit (PIA). If, on the other hand, you wait until full retirement age to file, she could get up to 100% of your benefit amount as a widow. And, if you wait until age 70 to apply, the additional delayed retirement credits you earn could be passed onto her as a widow. That would increase your monthly rate, and your wife's potential widow's benefit, to roughly 129% of your PIA.

Best, Jerry