I am 61 and was divorced before the change requiring 'deemed filing' of spousal SS benefits. My divorce decree was obviously written based on the old law. It says at age 62 I am required to file for spousal benefits based on my ex's earnings. My alimony will be reduced by this amount. Then when I turn 70 alimony will be stopped altogether. Clearly the thinking at the time was that my SS benefits would accrue till I started taking my own at age 70 and that the extra SS accrual would replace the alimony.
I am 64 (DOB 8/20/53) and my wife is 60 (DOB 1/4/57). When my wife turns 63 (1/4/2020), I will be 66 and 4 months old. If she files for her Social Security benefit then, can I apply for spousal benefits and let my benefit grow until 8/2023 when I turn 70?
I have used several online tools including Maxifi and other than waiting until my wife and I turn 70 (which we cannot afford to do), this seems to be the best case scenario but I am unsure if it is still allowed after the Budget Act of 2015.
Thanks for your help,
I have read two editions of "Get What's Yours" (Social Security) - in view of recent changes to the law, I would like to clarify the point made about being "grandfathered" if older than 62 years of age on Jan. 1, 2016. Both my husband and I were older than 62 on that date.
I will have arrived at a qualifying FRA in October 2018. Does my husband have to apply for his Social Security Retirement benefits prior to my applying for spousal benefits, or can we still file and suspend, due to being older than 62 yrs. on Jan. 1, 2016? Thanks for your help.
Help! The new Republican government wants to privatize Social Security, and judging from the haste in which the last major SS law was passed, I feel major disruption is possible in short order. It seems wise to me to file now (I am 62) which might get me grandfathered in after the new laws are passed. If I have not yet filed, I might be out in the cold. What do you think?
My husband is 74 and only receiving $1260 per month social security. I will be 66 in November 2018- a year and a half from now. Under the new laws is it possible for me to file spousal benefits (50% of what he is receiving monthly) and not touch my working benefits until I am 70 in order to maximize my earnings benefits at that age? Does the new laws prohibit me from collecting spousal benefits if I wait to file for my own social security benefits until age 70?
Jerry - Am getting mixed guidance on whether my wife and I are eligible for file and suspend, or restricted application. We are both currently 63 and will reach FRA of 66 yrs old in June and August of 2019.
We thought that we were grandfathered for the file-and-suspend option since we both were age 62 as of 1 Jan 2015. We recall that criteria (being 62 on 1 Jan 2015) as allowing us to retain that Option when we get to our FRA. Therefore, we thought that we can still exercise that Option in 2019.
Are we mistaken?
I plan to start SS benefit at the end of 2017 when I turn 70.
is it possible that Trump will change anything that might affect my benefit amount?
I'd be shocked if anything changed that would justify you changing your filing plans. Probably the most likely future change that could affect you would be an adjustment in the formula for cost of living increases, but that would affect everyone the same regardless of when they started drawing benefits.
My wife turns 66 this month and I turn 66 in July, are we grandfathered in for the spousal deferment that was removed in the 2015 legislation?
Assuming that you're referring to the new law on deeming (https://www.ssa.gov/planners/retire/deemedfaq.html), the yes both you and your wife are grandfathered since you were both born prior to January 2 1954.
I turned 70 in June 2016 and filed for and have been receiving full SS benefits.
My wife turns 66 in March 2017.
Is she "grandfathered in" to be able to file and suspend her own benefits at that time and file to receive spousal benefits from me only?
She has prepared a letter like the one you suggest in your book. Should she send it? or make an appointment?
Hi Larry, Jerry, and Mike,
Thank you for responding to a question last year about the best time for me to take social security.