Anyone recommending Social Security claiming strategies – STOP!

The budget agreement by the House that is expected to pass the Senate and be signed by the President will end both “File and Suspend” and “Restricted Applications”, and anyone receiving spousal or dependent benefits based on these strategies will see payments end in 6 months.

So far it appears that Restricted Applications for widows and widowers are NOT included, while benefits for a divorced spouse who begins receiving payments while the former spouse delays their own benefits is not yet clear though we anticipate this will be resolved in favor of the divorced spouse.

Please advise your clients, family and friends to hold off on any decision until the final legislation has been signed by the President at which time we will provide a detailed update to our Social Security Roadmap.

In the interim, please contact Don Deans or John Carroll with any questions.