Social Security’s Lump-Sum Payment Provision
Marcia Mantell, RMA®, NSSA®, in a post on thestreet.com, provides a bit of history associated with Social Security’s often misunderstood lump-sum benefit provision. Her post explains the 6-month lump-sum payout available to claimants electing to start their benefits at (or just after) their full retirement age, and also explains how this provision can be less than desirable for those filling at their maximum benefit age (70). Check out Ms. Mantell’s post here.
If you need any additional information on your Social Security benefits, know that the AMAC Foundation offers a free-to-the-public Social Security Advisory Service. Learn more about this service and how to access it here…