Dear Mr. Kotlikoff,
I will be turning 66 in November of 2019. My FRA Benefit will be $2,300/month($27,600/year). My wife will reach her FRA in July 2020 with FRA benefit $2,600/month ($31,200/year).
1. If I file for my FRA Benefit this November, can she claim half of mine and wait till her 70 to get the max?
2. Does she have to wait till her FRA (July 2020) to claim this Spousal Benefit?
3. Does she have to apply for her FRA benefit and suspend it in order to claim the Spousal Benefit?

Thank you so much for your time.

Hi,

The answer to your first question is no. Since your wife was born after January 1 1954 she could never file just for spousal benefits only without being deemed to file for her own benefits at the same time (https://www.ssa.gov/planners/retire/deemedfaq.html). And, if she files for benefits prior to full retirement age (FRA), her benefit rate will be reduced for age.

Based on the benefit rates listed in your question your wife could never qualify for spousal benefits on your record since her own benefit rate would be well over half of your rate. This would be true regardless of what age she tried to file for spousal benefits. Nor would she be able to qualify for spousal benefits if she filed for and suspended her own benefits (https://www.ssa.gov/planners/retire/suspendfaq.html).

On the other hand you would potentially be able to claim spousal benefits only at FRA or later while still allowing your own benefit rate to grow. But, your wife would need to be drawing her benefits in order for you to be able to receive spousal benefits on her record. You and your wife may want to strongly consider using our software to compare all of your various options in order to determine the claiming strategy that would likely be optimal in your case.

Best, Jerry