What is the best month to apply for delayed retirement credits and why. Thanks for your advice.

Hi,

If you file for your retirement benefits effective with the month you reach age 70, you are immediately credited with the maximum possible number of delayed retirement credits (DRC) regardless of what calendar month that is. However, if you file for benefits between full retirement age (FRA) and age 70, DRCs are initially only credited through December of the year prior to your month of entitlement to benefits. You would still eventually still get credit for any additional partial year DRCs, but not until effective with the following January. So, filing with effective with the month of January if you're filing between FRA and age 70 may be considered at least temporarily advantageous, but wouldn't necessarily be advantageous for the long term.

You may want to strongly consider using our maximization software to compare your options and determine your optimal filing strategy.

Best, Jerry