oliverdickens
Recycles dryer sheets
- Joined
- Sep 23, 2006
- Messages
- 69
I was just listening to the Today show this am, and if I understand it correctly, there is a well hidden rule within SS benefits that one can ask for and get. They said admistration might fight it, but it is legal to do. I am hoping someone knows more on the forum.
Here is what they said:
There is such a thing as deferal of benefits by higher income wage earner which allows that person to defer his/her benefit until normal retirement age, such as 66, while his/her spouse can claim and get the 50% of that spouses benefit beginnng when that higher incomce spouse hits 62, or for full four years of that deferal time.
So our example might help:
My wife is three years older than me and will start getting her benefit starting at 62. She earned less over the years.
When I hit 62, would ask for deferal on my benefits until 66, but request that wife get 50% of mine starting when I hit 62. It would be much more than her own.
Than when I het 66, begin getting my benefits, which I assume would be 100% due since I deferred?
Would my wifes 50% than increase to 50% of my full 100% at this point?
Is there such a option out there or did I just hear wrong or was their explaination way off, as it has been in the past by the experts on the Today Show.
Sounds way to good to be true, but never hurts to ask.
Thanks
Here is what they said:
There is such a thing as deferal of benefits by higher income wage earner which allows that person to defer his/her benefit until normal retirement age, such as 66, while his/her spouse can claim and get the 50% of that spouses benefit beginnng when that higher incomce spouse hits 62, or for full four years of that deferal time.
So our example might help:
My wife is three years older than me and will start getting her benefit starting at 62. She earned less over the years.
When I hit 62, would ask for deferal on my benefits until 66, but request that wife get 50% of mine starting when I hit 62. It would be much more than her own.
Than when I het 66, begin getting my benefits, which I assume would be 100% due since I deferred?
Would my wifes 50% than increase to 50% of my full 100% at this point?
Is there such a option out there or did I just hear wrong or was their explaination way off, as it has been in the past by the experts on the Today Show.
Sounds way to good to be true, but never hurts to ask.
Thanks