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Important Changes for Social Security


File & Suspend Strategy

The File & Suspend Strategy was first put in place during the Clinton administration to assist stay-at-home mothers or fathers. While the primary breadwinner in a family continued to work and accrue credits towards their retirement, the spouse was eligible to receive a benefit- usually between the ages of 66 to 70. These benefits could be up to $50,000. This filing option will no longer exist after April 29th, 2016.

Any family that files before this deadline will be grandfathered-in and will be able to receive these benefits.

Social Security offices across the nation have been flooded with questions about the File and Suspend strategy and the agency has not been able to disseminate the information. This has been partly because the law that removed the File and Suspend Strategy was part of the 2015 Bipartisan Budget Act and was signed into law on November 2, 2015. These laws usually have about 180 days to be put into effect. The agency has struggled to give field offices across the nation accurate information and the processing guidelines about how and who may take advantage of this strategy and how the deadlines work.

The deadline is fast approaching and with most field offices having a month-long wait time for appointments, we have to get any eligible families in the know about this strategy. The ideal candidates would be:

[One spouse at least 66 or older before April 29th, 2016, AND their spouse be at least age 62. If you or someone you know are in this category, they MAY be qualified candidates for these benefits. Feel free to share this information with everyone you know and please let us know if we may clarify or help with this strategy.]

Important Changes for Social Security