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The Social Security Restricted Application
Tom Hager explains the goals of the restricted application: maximize the high earner benefit, coordinate the benefits between the spouses, and maximize the survivor benefits. To take advantage of the restricted application one must have been born before January 2, 1954 and reached full retirement age. General guidelines include these: Spouse #1 needs to be receiving their worker benefit in order for Spouse #2 to be collecting a spousal benefit. As of today, in order for one spouse to be receiving a spousal benefit, the other spouse must be receiving their worker benefit. Also, both spouses cannot be receiving a spousal benefit at the same time. Read more 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.