Ask Social Security Questions and Get Answers ASAP
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--for any one that has not turned age 62 by the end of December 2015.