frayne
Thinks s/he gets paid by the post
I have a married friend who took early retirement from Ford Motor Company. He was an hourly employee and took a type of annuity where he gets a set amount of $3000 a month. If he dies before his wife, she gets the same amount until she would die. He is required to notify social security when he turns 62, even though he will not be getting any social security because it is a component calculated into his annuity. The question I have concerns his wife as it pertains to spousal social security. She has never worked and would she be entitled to any spousal social security when she turns 62 ? I know that if she would it would be reduced because of taking it before FRA. But the real question is if she would be eligible at all or would it depend on how the annuity contract is written.
Appreciate any and all replies in advance.
Appreciate any and all replies in advance.