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The "restricted benefit" is being eliminated by the new legislation passed last year. If you turned age 62 be the end of December 31, 2015, you would be grandfathered in and at full retirement age you will still be able to restrict your benefit. This means that if you or your spouse would like to elect to take only the spousal benefit as opposed to your normal retirement benefit, you can restrict your election to ONLY the spousal benefit. This would allow you to collect the 50% spousal benefit while still gaining credits to your normal retirement benefit from ages 66-70 (the credit increases your benefit approximately 8% per year). After the law changes, at full retirement age, you would have to take the higher of the spousal benefit and your retirement benefit. You can no longer choose just the spousal benefit and let your normal retirement benefit grow while still take the spousal benefit.
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