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Old 12-13-2015, 05:11 AM
 
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yes age does not play a part . my wife is 2 years older then me too .

she is already collecting her early benefit , she started at 62 .

i am 63 and as soon as i file she will get 4200 bucks added to her early benefit .

it does not matter what age i file for her to get the bump up , only that i file .

we have an appointment monday at fidelity with our team . we will run all different scenario's with their new social security tool (in house only ) that integrates with our actual investments and situation .

i think no matter what though i won't delay past 65 . i don't want the hassle of being open ended with medicare increases by not being covered under hold harmless .
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Old 12-13-2015, 05:27 AM
 
Location: RVA
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Now you have it Dave. Basically ALL your only option is to delay filing for a larger benefit, for both yourself and possibly your spouse later. What the SSA eliminated was allowing any way to allow your spouse to collect off of yours without you collecting. It makes the SS calculator much easier to use. I've already had a couple of people come to my office and ask about this, and like you, it really nuked their retirement dates by at least a year, usually more.
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Old 12-13-2015, 06:18 AM
 
Location: Mount Airy, Maryland
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Quote:
Originally Posted by Perryinva View Post
Now you have it Dave. Basically ALL your only option is to delay filing for a larger benefit, for both yourself and possibly your spouse later. What the SSA eliminated was allowing any way to allow your spouse to collect off of yours without you collecting. It makes the SS calculator much easier to use. I've already had a couple of people come to my office and ask about this, and like you, it really nuked their retirement dates by at least a year, usually more.
My wife is entitled to half of my FRA figure but only after I file and begin to collect. Prior to that she will get benefits on her own earnings. Got it. The part about my wife possibly getting a larger check later refers to her benefits should I die correct? If I delay past FRA she still gets only the bump to 1/2 of my FRA figure right, not 1/2 of my larger figure should I wait. Correct? If so we need to calculate the totals this bump would be for an entire year should I file at 65 vs the increase I would get if I waited until 66.

Sorry if this is obvious but what did you mean the new rules changed people's retirement dates, do you mean they were forced to work longer?
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Old 12-13-2015, 07:54 AM
 
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nooooooooooooooooo you are mixed up a bit . that is wrong .

your wife is never entitled to 1/2 your benefit , ever . all she gets forever as long as you are alive is her own as long as she has a qualifying work record of her own -period .

the same goes for you , you only get your own . that is regardless of age ,you never ever get anyone else's benefit anymore .

the only thing that happens is when you both have filed , thy will check to see if 1/2 the full benefit of the larger earning spouse is more than the full benefit of the lessor earning spouse .

no matter what age you actually file the reference point is always both full retirement benefits .

if there is a difference left when they do the subtraction then that difference gets added on to whatever the lower earning spouse gets as their own .


so let say your wife files early . she will get that difference added to her own early benefit when you file for yours and that stays forever .

if she files for hers at fra and you file then she gets that difference added to her full benefit .

in no case does anyone get a benefit other than their own . they can only get an adder to their own .
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Old 12-13-2015, 08:03 AM
 
30,127 posts, read 47,361,961 times
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My understanding was that if anyone files prior to FRA and the spouse files for spousal at that same time or in future that the spousal amount will be reduced--permanently--because the other benefit being used as refereance was reduced from FRA amount...
Say someone's (person A) benefit was 2200 at FRA, max spousal (A2) amount possible would be 1100
but if person A files early and get 1900 then spousal (A2) will be 950--half of what A is receiving...
and surviving spouse portion (A2) would be reduced as well I believe
But I am not claiming expert status--if I am wrong I want to be corrected...

And I believe PerryinVA meant that people will be forced to file sooner than they would have if this claiming law was not changed in order to have that SS money coming into their budget and that MOST people will have no choice except to file on their own claim vs using restricted application for spousal only and letting their own benefit amount increase.


@Mathjak107--you mean your wife's annual/total benefit will go up 4200 with the supplement from the spousal benefit--and then her personal and her spousal together will equal 1/2 of your benefit -- correct?
But will her possible spousal amount be reduced if you are claiming early and taking a reduced amount from what a FRA benefit would be?

My understanding --
Basically under new rules--everyone will be forced to file for any personal SS benefits eligible under their own work history FIRST--either when they are first eligible before FRA or to delay until 70 when personal benefits max out.
Depending on age and marital status--some people MIGHT be eligible to receive a supplement to the personal benefit based on the spousal portion that person might qualify for...
IF THE SPOUSAL ENTITLEMENT is more than the personal benefit.. the difference is the supplement --
IF THE PERSONAL AMOUNT IS HIGHER THAN THE ELIGIBLE 50% SPOUSAL there is NO supplement applied.
So the TOTAL couple lifetime benefit amount is limited to ONLY individual streams plus supplement of one spousal entitlement.

Under the current rules--it was possible for married couples to receive more as total lifetime benefit than the new arrangement because by filing a spousal-only/restricted application, that person's personal SS benefit was able to grow until it maxed out at 70--when it might be be more than the spousal benefit but was definitely going to be larger than if taken at the initial filing --so that the total amounts the married couple received were more than what the current change will allow.

Under new rules, People can still delay their filing dates past first eligible or FRA to 70 and maximize the amount for individual benefits--but in any case/filing age NO SPOUSAL BENEFITS can be claimed until both parties file for their individual benefit amounts...
And the file/suspend is still possible but it stops both personal benefits and any spousal benefit derived from that SS benefit...

Last edited by loves2read; 12-13-2015 at 08:28 AM..
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Old 12-13-2015, 08:28 AM
 
71,655 posts, read 71,801,099 times
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my wife filed at 62 . her benefit can never ever equal 1/2 mine . it will be somewhere in between .

so lets look at an example , i will ballpark the numbers .

her early ss is 8200 . her full if she waited would have been 11,500.00

my full is 32,000 .00 so 1/2 is 16k .

regardless of what age we file all calculations work off our full benefit amounts , even if that isn't what we are actually getting because we both file early pre fra .

so 16,000 minus 11,500.00 equals 4500.00 .

so she gets 4500 added to her early benefit of 8200 which equals 12,700 . that is her benefit and it will always be less then 1/2 mine since she filed early . 1/2 mine would be 16k .

had she filed at her fra instead she would have gotten 11,500 plus the 4500.00 which would have equaled 1/2 my full . but because she filed early she will always work out to less than 1/2 my full .


that is the whole deal , there is no more taking each others benefits an switching .

Last edited by mathjak107; 12-13-2015 at 08:43 AM..
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Old 12-13-2015, 09:29 AM
 
1,577 posts, read 2,204,023 times
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Quote:
Originally Posted by mathjak107 View Post
my wife filed at 62 . her benefit can never ever equal 1/2 mine . it will be somewhere in between .

so lets look at an example , i will ballpark the numbers .

her early ss is 8200 . her full if she waited would have been 11,500.00

my full is 32,000 .00 so 1/2 is 16k .

regardless of what age we file all calculations work off our full benefit amounts , even if that isn't what we are actually getting because we both file early pre fra .

so 16,000 minus 11,500.00 equals 4500.00 .

so she gets 4500 added to her early benefit of 8200 which equals 12,700 . that is her benefit and it will always be less then 1/2 mine since she filed early . 1/2 mine would be 16k .

had she filed at her fra instead she would have gotten 11,500 plus the 4500.00 which would have equaled 1/2 my full . but because she filed early she will always work out to less than 1/2 my full .


that is the whole deal , there is no more taking each others benefits an switching .

Does this also apply to divorced spouses (married +10 years)? My ex has always made substantially more than myself. I'm 58 and he's 56. I have no clue when he will file but I plan to hang in there until FRA unless health gets in the way. I never remarried.
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Old 12-13-2015, 09:37 AM
 
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yes it still apply's . but right now i heard the way the new laws are written divorced spouses are in a bad place because they can't get the adder until the ex files .

a spiteful ex or an ex waiting until 70 can be a problem . i am not sure if this was fixed yet or ever will be fixed .
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Old 12-13-2015, 09:44 AM
 
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Thanks so much. I'll be following the conversations on here.
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Old 12-13-2015, 09:49 AM
 
30,127 posts, read 47,361,961 times
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Quote:
Originally Posted by mathjak107 View Post
my wife filed at 62 . her benefit can never ever equal 1/2 mine . it will be somewhere in between .

so lets look at an example , i will ballpark the numbers .

her early ss is 8200 . her full if she waited would have been 11,500.00

my full is 32,000 .00 so 1/2 is 16k .

regardless of what age we file all calculations work off our full benefit amounts , even if that isn't what we are actually getting because we both file early pre fra .

so 16,000 minus 11,500.00 equals 4500.00 .

so she gets 4500 added to her early benefit of 8200 which equals 12,700 . that is her benefit and it will always be less then 1/2 mine since she filed early . 1/2 mine would be 16k .

had she filed at her fra instead she would have gotten 11,500 plus the 4500.00 which would have equaled 1/2 my full . but because she filed early she will always work out to less than 1/2 my full .


that is the whole deal , there is no more taking each others benefits an switching .
BUT you said you are filing early--
is your wife still entitled to half your FRA benefit if you don't wait until then and file early and receive a reduced personal amount???
I thought both parties were penalized if one filed early--the individual and the spouse
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