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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Social Security
Satisfied Customers: 17447
Experience:  B.A.; M.B.A.; J.D.
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I was told that we were going to get nex month alone with we

Customer Question

I was told that we were going to get nex month alone with we already getting a check for $568 for those on a fix income because we have not been getting a raise every year Do you know anything about this just concern ?
JA: The Retirement Accountant will know how to help. Is there anything else important you think the Retirement Accountant should know?
Customer: can you answer the questin i just ask or you don t know about this ?
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: 7 months ago.
Category: Social Security
Expert:  Phillips Esq. replied 7 months ago.
There is no such thing. There is no Cost-of-Living Adjustment for Social Security recipients for 2016. For more information, click here. However, a new social Security Rule went into effect on April 30, 2016. The new 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 who has reached full retirement age 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 that has not turned age 62 by the end of December 2015. For more information, click on the links below: https://www.ssa.gov/planners/retire/suspend.html https://www.ssa.gov/planners/retire/applying6.html Kindly give a positive rating to my response so that I can receive credit for responding to your post. There is no additional cost to you for doing this. Thank you for your cooperation.

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