I turned 66 in Dec. 2017, I have an 18 year old child graduating high school in June 2018. I have not yet enrolled to take any benefits. I would like to retroactively take my benefits and child benefits and then suspend, letting my benefit compound until I am 70. Considering my child graduates in June, when and how should I file and for how many months will we be paid. Thanks

Hi,

It won't do you any good to file for and suspend your benefits if your intent is for your child to receive benefits on your record. Due to the 2015 Social Security amendments passed into law by Congress, your child couldn't be paid child's benefits while your benefits are suspended (https://www.ssa.gov/planners/retire/claiming.html?intcmp=AE-RET-PLRT-REL...).

You could claim benefits retroactively to December 2017 for both you and your child and then suspend your benefits after he or she graduates, but in that case you won't receive delayed retirement credits for the months that you receive benefit payments. Still, you may feel that receiving 7 months of benefits for both you and your child is an acceptable trade off for sacrificing roughly 4.66% in your eventual benefit rate. If your child isn't disabled and is age 18 and graduates from high school in June 2018, then June would be the last month for which he or she could be paid. You may want to consider using our maximization software to run your numbers and see which strategy you consider to be best in your situation.

If you do decide to apply, you'll need to file your applications no later than the end of June 2018 in order to be able to claim retroactive benefits effective with December 2017. You may be able to file online at ssa.gov, but if not you can file either by phone or in person at a Social Security office. You can make an appointment to file by calling 1-800-772-1213.

Also, if you do file and then want to suspend your benefits effective with July 2018 you'll need to tell Social Security no later than June 2018.

Best, Jerry