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ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 689
Experience:  Business Consultant/Accounting Manager
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New rules have me confused. In May my husband will turn 70

Customer Question

New rules have me confused.
In May my husband will turn 70 and start collecting social security. In May I will turn 66. We are both retiring at the end of 2016.
Our plan was for my husband to collect his full SS and for me to suspend my collecting and receive spousal until I turn 70. Is this still allowed under the new rules.
Submitted: 8 months ago.
Category: Social Security
Expert:  ABC Accounting Group replied 8 months ago.

Hi. Great Questions. It can be very confusing. You are eligible to receive a spousal benefit when your husband files for his own benefit. The key is that he has to apply first for his benefits.

Customer: replied 8 months ago.
should he and I both file and suspend now and when he turns 70 and starts receiving benefits I also apply for spousal benefits. OR, should we both just wait until we are actually 66 and 70. I thought the new rules did away with this loophole
Expert:  ABC Accounting Group replied 8 months ago.

You can do either one. The new law notes that he can still voluntarily suspend benefit payments in order to earn higher benefits for delaying. But during a voluntary suspension, other benefits payable on his record, such as benefits to you, as his spouse, are also suspended. So, you an either both or both get paid the benefits. Before, he could of suspended and you could have collected on his social security - that is the difference. If you both wait until he is 70, his benefit will be greater.

Expert:  ABC Accounting Group replied 8 months ago.

If you have any questions, let me know.

Customer: replied 8 months ago.
Thank you!
Customer: replied 8 months ago.
One more thing. If we are turning 70 and 66 in May, when should we apply for social security? Do we need to apply exactly three months before our birthdays? Or Can we both suspend today? Should I wait a week after my husband applies since I will want to keep my suspension and take a spousal when 66
Expert:  ABC Accounting Group replied 8 months ago.

You should wait after your husband applies and then take the spousal at 66.

Expert:  ABC Accounting Group replied 8 months ago.

Let me know if you have any questions. Thank you.

Expert:  ABC Accounting Group replied 8 months ago.

If you have any questions, let me know. Thank you.