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The debt limit deal includes a provision to end the option to File and Suspend. It can be found under the section addressing "Closure of Unintended Loopholes".
Personally, I don't believe the statute, as written, is clear regarding for whom the various provisions, i.e. dual entitlement, deemed filing and the "file and suspension" apply. Those younger than 62? All new claimants filing 180 days after the enactment?
Nevertheless, the summary found on the House website suggests the "file and suspend" prohibition will be effective for ALL "benefits payable" beginning six months after enactment of the statute.
I can't say I'm surprised. I think if I go back and check my old posts I will find that I predicted that this would happen.
File and suspend IIRC is rather a new invention to SS and was mainly put into place (surprise, surprise) to benefit (mostly) non-working spouses (usually women). Fast forward to 2015 many more women work outside of the home and have SS work records of their own.
F&S is one of the biggest "free lunches" in SS that could generate a nice "extra" sum for some married couples. http://www.cnbc.com/2015/08/13/
File and suspend IIRC is rather a new invention to SS and was mainly put into place (surprise, surprise) to benefit (mostly) non-working spouses (usually women). Fast forward to 2015 many more women work outside of the home and have SS work records of their own.
F&S is one of the biggest "free lunches" in SS that could generate a nice "extra" sum for some married couples. http://www.cnbc.com/2015/08/13/
Could you post the title of the article so I can google it? That link does not work for me. Thanks.
The debt limit deal includes a provision to end the option to File and Suspend. It can be found under the section addressing "Closure of Unintended Loopholes".
Personally, I don't believe the statute, as written, is clear regarding for whom the various provisions, i.e. dual entitlement, deemed filing and the "file and suspension" apply. Those younger than 62? All new claimants filing 180 days after the enactment?
Nevertheless, the summary found on the House website suggests the "file and suspend" prohibition will be effective for ALL "benefits payable" beginning six months after enactment of the statute.
I can't say I'm surprised. I think if I go back and check my old posts I will find that I predicted that this would happen.
I agree there is a tad of ambiguity when actually reading the bill. Using words like loophole can be misleading and inappropriate. When you write very long lengthy bills intending to do so much it is not a loophole for someone to read the bill and apply it in a way you didn't think of. That is why folks have lawyers and accountants to read, interpret and apply and that will continue. The problem with file and suspend was when it went mainstream. How when did congress determine what they wanted people to get in the way of benefits. There are formulas written and applied to economic data that determine. They do determine caps on contributions etc etc. They can change the benefit age etc etc etc. But complex laws are an invite to creative application.
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re: good bye to "File and Suspend"
