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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Social Security
Satisfied Customers: 19121
Experience:  B.A.; M.B.A.; J.D.
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I understsnd that certian S.S. Benefits that could be worth

Customer Question

I understsnd that certian S.S. Benefits that could be worth thousands of dollars will cease to be effective as of May 1,2016. Please comment on those changes. I feel I should pursue any lawful changes as it is clear that our Government does indeed pursue all taxes that can possibly be levied.
Thank you in advance,
Charles Degner
Submitted: 1 year ago.
Category: Social Security
Expert:  Phillips Esq. replied 1 year ago.

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.