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Jonathan Tierney
Jonathan Tierney, Certified Public Accountant
Category: Social Security
Satisfied Customers: 322
Experience:  Tax Accountant at Praxair, Inc.
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What are offerings of lump sum cash that are being advertised

Customer Question

What are offerings of lump sum cash that are being advertised at this time
Submitted: 1 year ago.
Category: Social Security
Expert:  Jonathan Tierney replied 1 year ago.
Hi, my name is ***** ***** I can help. If you are past your full retirement age, Social Security will pay up to six months of benefits all at once, provided you are at least that many months past your full retirement age. Another option is the file and suspend approach which is also only available to those who are past their full retirement age. Once you reach your full retirement age, which lets say is 66 for example, you can choose to file and suspend your benefits so you can continue to earn delayed retirement credits which would increase your future monthly benefit. However, at age 69 you are in need of extra cash you can choose to receive the three years of suspended benefits all at once, though you lose all your delayed retirement credits. This article may help you: I hope this answers your question. Please let me know if I can clarify anything or answer any additional questions.Thanks, Jonathan