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Sweeping Changes to Claiming Social Security Benefits

The budget bill signed on November 2, 2015 by President Obama included sweeping changes in the claiming of Social Security benefits. The changes ended two major Social Security claiming strategies for married couples.

No more file and suspend or restricted application.

If you have not filed for social security benefits within 180 days of the bill’s passage on November 2, 2015 you will no longer be able to use the program’s “file and suspend” rule. This claiming strategy has permitted one member of a married couple to file for Social Security, thereby enabling a husband or wife to file for a spousal benefit. The spouse, meanwhile, could suspend his or her own retirement benefit, which then could grow due to delayed retirement credits by 8% a year. Continue reading “Sweeping Changes to Claiming Social Security Benefits”