Social Security take-back -- RIP

[JPKlesmith]

Quote:

Originally Posted by Rich_in_Tampa Loophole has been closed for a re-do on SS. You can no longer pay back your benefits and reset your SS payments after 12 months of receiving them.

Thanks Rich...that's pretty clear....but the SSA article begs another question -- can a person suspend his/her payments going forward until he/she is ready to re-retire, and are there any financial benefits to doing so (e.g., higher monthly benefits at final retirement)??

John

[MasterBlaster]

Quote:

Originally Posted by JPKlesmith Thanks Rich...that's pretty clear....but the SSA article begs another question -- can a person suspend his/her payments going forward until he/she is ready to re-retire, and are there any financial benefits to doing so (e.g., higher monthly benefits at final retirement)?? John

I believe that the "file-and-suspend" rules are still in place.

If you are married, you can file-and-suspend your benefits is that your spouse can start collecting spousal benefits on your record before you do. Then when you actually retire you'll get the higher benefit do to retiring later for yourself.

[JPKlesmith]

Thanks Master Blaster......

Unfortunately, my wife is not old enough for benefits for another 4 years....

With a better economy, I would like to go back to work, and hopefully collect a larger SSA amount at a later date, due to additional credits and an older retirement age. Does SSA allow anything like that, and if so, how would I go about doing so??

Thanks for all your help!!

John K.