Spousal Benefits 101 – A Primer - CNBC & AMAC
Social Security is a complex program, and the myriad of rules and regulations are beyond confusing to a great many people. Throw in the issue of spousal benefits, and we get to the almost incomprehensible. But, Sarah O’Brien of CNBC breaks the topic down here, making it easier to understand. Key points are spousal benefits in general are capped at 50% of the benefits your husband or wife would get at their full retirement age, and you cannot qualify for them unless your spouse is already receiving Social Security. Further, if your spouse dies, you would file for survivor benefits, not spousal benefits. This is explained more thoroughly in the piece. Finally, if you were born before the 1954 cutoff date, you may have other strategies available to you as a spouse that those born after 1954 no longer have due to a change in the law in 2015. Full article here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.