Ms.PacMan
Well-Known Member
https://www.kitces.com/blog/congres...untary-suspension-social-security-strategies/
This does not effect me but I want to post the info.
In a nutshell - the loophole allows retired spouses to collect a third marital social security benefit while allowing their individual social security benefits to continue to grow until age 70.
(Husband reaches FRA - full retirement age, 66 and files for SS but suspends the payments thereby allowing his SS to continue to grow at 8%/yr until 70. This allows the wife to file and collect spousal benefits, 50% of his benefit at FRA, while continuing to let her own SS grow 8% until age 70.) I think this might also be possible at age 62 with a spousal benefit of 30%?
The bill to close this loophole will give anyone who is eligible before the end of 2015, six months to take advantage of the file and suspend strategy.
This does not effect me but I want to post the info.
In a nutshell - the loophole allows retired spouses to collect a third marital social security benefit while allowing their individual social security benefits to continue to grow until age 70.
(Husband reaches FRA - full retirement age, 66 and files for SS but suspends the payments thereby allowing his SS to continue to grow at 8%/yr until 70. This allows the wife to file and collect spousal benefits, 50% of his benefit at FRA, while continuing to let her own SS grow 8% until age 70.) I think this might also be possible at age 62 with a spousal benefit of 30%?
The bill to close this loophole will give anyone who is eligible before the end of 2015, six months to take advantage of the file and suspend strategy.