Larry
I bought your book and read it and also gave it to my financial planner. My husband is 62 and will turn 63 in December and I turned 63 in April. I did not know of the file and suspend and we missed it. My financial planner is recommending I take social security now and then when my husband reaches his FRA take the excess spousal benefit. I am the low earner and my benefit is $511.00 at 62 and $628.00 at FRA. My husbands benefit is $2445.00 at FRA. He plans to wait and take his benefit at 70 when it will be higher. My accountant thinks I should wait until 66 to take my benefits. My financial planner says he's run the models and I should take it now. I am confused because I'm getting opposite views . Can I take my husbands excess benefit when he turns 66 even if he doesn't file?.Will I be forced to take my spousal benefit when I take my own retirement benefit? Does my husband have to file for his benefit for me to be eligible for the spousal benefit.? Can he file for spousal benefit on my benefit at 66 yrs without taking his benefit? Any advice or clarification would be greatly appreciated.
Thank you!

Hi,

I'll try to answer your questions one at a time. First off, neither you or your husband were old enough to beat the April 29 2016 file and suspend deadline in the new law. You would have to have been at least full retirement age by that date in order to be grandfathered.

You can't receive spousal benefits until your husband files and starts drawing. And, if you file for your own retirement benefits before your husband files for his, you will not be deemed to also be filing for spousal benefits.

Since your husband was born prior to January 2 1954, he is still permitted to file for spousal benefits only on your account at his full retirement age (FRA), which is 66. Of course, you must be drawing your benefits in order for him to do that, but based on the benefit rates you quoted, it would be advantageous for you to file on your own account no later than age 66 anyway.

My opinion is that you probably should start your retirement benefit at age 66. Then, when your husband reaches age 66, he should file a restricted application for spousal benefits only on your record. Finally, when your husband reaches age 70, he should switch to his own account and you should file for an excess spousal benefit at that time.

An argument could be made for starting your retirement benefits prior to age 66, but then your benefit rate would stay reduced for as long as both you and your husband are living. Also, some people might argue that your husband should file on his account before age 70 so that you can start your excess spousal benefit sooner. But, that would mean a lower widow's benefit for you if he dies first. You may want to run the maximization software available on this website in order to make sure that the filing strategy you choose is the one that makes you the most comfortable.

Best, Jerry