Is This Information Accurate?

Category: 
Aug 13 2018 - 11:21am

This article just made its way onto Facebook. Is the date of 2015 correct? That would mean the bill was being considered under Obama.

https://www.pbs.org/newshour/economy/houses-proposed-budget-bill-will-de...

Hi,

Yes, that date is correct and the bill referenced in that column was passed into law by Congress shortly thereafter. The main effects of the new law are:
1) People born after January 1 1954 can no longer claim spousal benefits at their full retirement age (FRA) while allowing their own benefit rate to grow until age 70; and,
2) Auxiliary beneficiaries such as spouses and children can no longer be paid on the record of a worker whose benefits are voluntarily suspended unless the suspension was requested prior to April 30 2016.

For more information on these provisions, refer to this Social Security website: https://www.ssa.gov/planners/retire/claiming.html?intcmp=AE-RET-PLRT-REL....

The good news is that our software is fully updated to account for all of the changes in the Social Security regulations, so anyone who is considering filing for Social Security benefits would be well advised to use our software in order to determine their best strategy for claiming benefits.

Best, Jerry