I filed for my DOE on June 17th 2017. I was inform by my SSA claims specialist that since I am at full retirement age (DOB: 9/12/48) I could change my DOE to 1/2017 and receive a retro active lump sum benefit of $9200.00. Is That true? Why not wait another 15 months and file then or just filer now. I am in good health. Or just file get the process going. I could die tomorrow!!!

Hi,

Yes, if you file 6 or more months after reaching full retirement age (FRA), you have the option to request of to 6 months of retroactive benefits when you do apply. However, you would then not receive delayed retirement credits (DRC) for those months (https://www.ssa.gov/planners/retire/delayret.html). DRCs add 2/3rds of 1% per month to your retirement benefit rate, so electing 6 months of back pay comes at a cost of a 4% lower benefit amount.

Your best strategy may be to wait until age 70, which would provide you with the maximum number of DRCs and your highest potential monthly rate. But your best strategy also depends on factors such as your health, and past and present marriages. You should strongly consider running the maximization software available on this website before deciding when to start drawing your benefits.

Best, Jerry