The SS law has been changed several years ago for those who born later than 1953. So the option of deferring your own benefit while you withdrawing from spousal benefit for those who born later than 1953 is gone. When you claim social security benefit, it will automatically claim both benefits (from your own and spousal benefit). Then they will give you the higher amount between those two benefits. For an example, if you're eligible to get 800 from your own account, but if your spousal benefit is higher (let's say, 1000), then you will get 1000 per month (800 from your own account and 200 from your spousal benefit).
Before the law change, you could defer your own benefit (which would increase your benefit for later days) up to 70.5 years old while you claim your spousal benefit, but now that option is gone for those who were born later than 1953. Hope this helps…
From: TSP_Strategy@yahoogroups.com <TSP_Strategy@yahoogroups.com>
Sent: Sunday, July 21, 2019 5:38 PM
To: TSP_Strategy@yahoogroups.com
Subject: [Non-DoD Source] [TSP_Strategy] Re: Take Social Security Early?
Hi,
I'm completely confused by this portion of the article:
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If you were born before Jan. 2, 1954 and have already reached full retirement age https://www.ssa.gov/planners/retire/retirechart.html, you can choose to receive only your current or divorced spouse's benefit and delay claiming your own retirement benefit. If you were born later than that, the option to take only one benefit at full retirement age is no longer available. If you file for one benefit, you will be effectively filing for all retirement or spousal benefits
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What is meant by "The option to take only ONE benefit at full retirement age is no longer available."?
My wife is a widow born in 1958. she was married to her late husband for 30 years. His available monthly SS payment will be substantially higher that hers when the time comes for her to retire- so she was planning on taking his as a widow. It was our understanding that she had only one option- Choose Her SS, or His, and if she chose His she could not take Hers as well.. What does the above reference sentence mean?... That the option to take ONLY ONE is no longer available.
Thanks!
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