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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Social Security
Satisfied Customers: 17513
Experience:  B.A.; M.B.A.; J.D.
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How will H.R.1314 will affect my ss retirement benefits?

Customer Question

How will H.R.1314 will affect my ss retirement benefits?
JA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Please tell me more, so we can help you best.
Customer: How to get the needed forms to file?
JA: Is there anything else the Retirement Accountant should be aware of?
Customer: I have retired. Iam 67 and single.
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Retirement Accountant about your situation and then connect you two.
Submitted: 9 months ago.
Category: Social Security
Expert:  Phillips Esq. replied 9 months ago.

Could you explain a little more?

Are you now receiving benefits?

How old are you?

Are you married?

Kindly provide proper foundation for your question.

Thank you for your cooperation.

Customer: replied 9 months ago.
I am single. I am 67. I am retired but I still work.
Expert:  Phillips Esq. replied 9 months ago.

Thank you for the information.

The new Social Security law essentially deals with two strategies some retirees were using to maximize their benefits namely: file and suspend and restricted spousal application.

File and suspend deals with when both husband and wife have reached their full retirement age. One would file and suspend his benefits so that the other would apply for spousal benefits only. Then the other spouse would apply for benefits when he reaches age 70. This would maximize their benefits. Under the new law, this loophole has been closed. So, when a spouse files and suspends, all benefits would be suspended preventing his spouse from applying under his earnings.

The other one is restricted spousal application where one spouse can elect just to apply for spousal benefits only and then apply for her own benefits later. This would no longer be allowed for any one turning age 62 or older after December 31, 2015.

So, the new law does not affect you and there is nothing for you to do.