Today’s column addresses whether to file and suspend before filing for spousal benefits, when divorced spousal benefits can be available, when spousal benefits become available, the calculation of divorced spousal benefits and potential effects of remarriage on widow(er)'s benefits. Larry Kotlikoff is the founder and president of Economic Security Planning, a company that markets Maximize My Social Security, a Social Security benefits calculator referred to in this post.
See more Ask Larry answers here.
Ask Larry about Social Security:
Will I Be Able To File And Suspend And Still Get Social Security Spousal Benefits?
Hi Larry, I am rereading your book Get What's Yours and I have a couple questions. My 69 year old boyfriend are considering marriage. I will be 65 in November. I understand that if I am married to him for one year when I turn 66, I can receive spousal benefit based on his work history. Does that mean I can file and suspend my retirement benefit or does it mean I should only delay filing for my retirement benefit till 70 where my payments will be higher? He is a much higher earner than me and has been receiving his Social Security retirement payments since 66. Thanks, Allyssa
Hi Allyssa, You wouldn't be able to file for and suspend your own benefits and be paid spousal benefits. Instead you could file a restricted application for spousal benefits only at your full retirement age of 66 simply delay filing for your own retirement benefits. As you mention, though, you would likely need to have been married for at least a year in order to qualify for spousal benefits. You could then switch to your own retirement benefits at age 70 if your benefit rate is higher at that time than your spousal rate. The filing strategy mentioned above might be the best in your case, you may want to double check using an expert Social Security benefits calculator as described in other answers. Best, Larry
Once We're Divorced Can I Claim 100% Of My Wife's FRA Benefit Amount?
Hi Larry, I will be 66 in 4 months. My wife will be 65 in 5 months. We are working on a divorce settlement which is not yet finalized. So at this point we are still married. My wife's Social Security retirement benefit at her full retirement age (FRA) will be higher than my benefit. Once we are divorced, can I claim receive a benefit at 100% of her FRA benefit amount? Or am I better off claiming before we finalize our divorce? Thanks, Matt
Hi Matt, Your spousal benefit could never be 100% of her benefit rate whether you're divorced or not. Both spousal and divorced spousal benefits top out at 50% of the worker's Primary Insurance Amount (PIA), which is equal to their full retirement age (FRA) retirement benefit amount. And if you are already drawing benefits on your own record, you could only qualify for additional spousal or divorced spousal benefits if your wife's or ex-wife's PIA is more than twice as much as your own PIA.
Assuming that you haven't filed for your own retirement benefits you could potentially claim spousal or divorced spousal benefits at your full retirement age (FRA) age 66 or older while letting your own benefit rate grow until 70. However, you could only qualify for spousal benefits if your wife is drawing her benefits, and unless your ex-wife is drawing her benefits you couldn't receive divorced spousal benefits until 2 years after your divorce is final. Bottom line, it sounds like you have a lot of possible options with regard to Social Security. You may want to strongly consider using an expert Social Security benefits calculator, such as my company's software or other proficient and comprehensive software, to compare all of your options and determine your best overall strategy. Best, Larry
When Can My Wife Claim The Full 50% Spousal Benefit?
Hi Larry, I am turning 65 and my FRA is 66 and plan on suspending until I am 67. If I retire at 67, when can she claim her 50% spousal benefit? She has been a stay at home mom and does not have enough credits to receive any benefit on her own. Thanks, Ken
Hi Ken, To receive a full spousal benefit equal to 50% of your full retirement age rate, your wife would need to wait until her full retirement age (FRA) to claim spousal benefits. And she can only be paid spousal benefits if you are drawing your retirement benefits. You may want an expert Social Security benefits calculator, such as Maximize My Social Security or another top rated program, to explore and compare your options in order to determine your best overall filing strategy. Best, Larry
Is Social Security Giving My Ex-Wife Wrong Information?
Hi Larry, My exand I were married over 10 years and have now been divorced for over 20. She began taking reduced early retirement benefits under her own earnings when she turned 62 at $950 per month. Now that I have reached full retirement age of 66, my benefits are $2,150 monthly. She is now 67. When my spouse inquired if she could claim divorced spousal benefits equal to half my benefit, she was told no. The reason given was she took her benefit early. Am I wrong? Because I've always read if ex-spousal benefit was higher, that is what she would get. Can you explain. Are they giving her wrong information? Thanks, Lloyd
Hi Lloyd, Social Security is probably correct about your ex-wife not being eligible for divorced spousal benefits. In order for her to qualify, 50% of your Primary Insurance Amount (PIA), which is equal to your full retirement age (FRA) retirement benefit amount, would have to be higher than your ex-wife's own PIA, not her reduced rate. If your wife filed at 62 and receives $950 then her PIA is likely around $1,250, which is apparently more than 50% of your PIA. Assuming that's correct, your ex-wife wouldn't qualify for divorced spousal benefits. Best, Larry
Would I Lose My Widow's Benefits If I Remarry?
Hi Larry, I am currently receiving widow's benefits through Social Security. Would I loose that benefit if I were to remarry at any point in the future? I am currently 61. My own retirement benefit is smaller than my survivor's benefit, which I've been receiving since I turned 60. Thanks, Ruth
Hi Ruth, Remarriages at 60 or later have no effect of a person's eligibility for widow(er)'s or divorced survivor benefits so getting married now won't end your widow's benefit. Best, Larry
To learn more about your Social Security options, visit Economic Security Planning, Inc.
