Last year the Obama administration signed a new law which does away with the file and suspend strategy for Social Security benefits. After the April 29, 2016 deadline couples will no longer be able to file and suspend their Social Security benefits. People who want to use this technique will need to act fast because the deadline is almost here. “The other technique impacted by the new law, known as “filing a restricted application,” affects anyone turning 62 on or after January 2, 2016. Before the new law, a married person (and some divorced persons) who reached Full Retirement Age could claim Social Security spousal benefits without also being forced to claim his or her own retirement benefits, allowing the person’s own retirement benefit to continue to grow.” This article explains how the new law will change that and many other aspects of Social Security.
See Judith Chipps, Prepare for the Deadline to Max Social Security Benefits, Next Avenue, April 7, 2016.
