My wife of 25 years was born March 15, 1955. She began drawing benefits at FRA of $1150 per month. I was born 11/15/1955. My estimated benefits at full retirement are $2920. I do not intend to take my benefits until I am 70. My estimated benefits at 70 are $3820.

I am attempting to understand my wife’s spousal benefits. I understand my wife’s spousal benefits would be
half of $2920 or $1460. How does this work. When I draw at 70 will my wife be entitled to only $1460 or will she also be able to benefit from 4 plus years of COLA’s ( presuming COLA’s occurr)

Hi. When you start drawing your benefits your wife will be eligible for a benefit rate equal to 50% of your primary insurance amount (PIA). A person's PIA is equal to their Social Security retirement benefit rate if they start drawing their benefits at full retirement age (FRA). What will actually happen is that your wife will continue to receive her own benefit plus an excess spousal benefit equal to the difference in her PIA and 50% of your PIA. And, since your wife started collecting her benefits at FRA her combined amount including her excess spousal benefit will then add up to 50% of your PIA.

Both your PIA and your wife's PIA will be credited with any cost of living (COLA) increases that occur between now and when you start drawing your benefits, so the bottom line is that your wife's total monthly benefit rate should add up to 50% of whatever your PIA is when you start drawing.

Best, Jerry