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Tougher rules for Social Security claiming strategies

Sunday, November 15, 2015

With the signing of the Bipartisan Budget Act of 2015, two popular Social Security claiming strategies have been affected. Going forward “file and suspend” will be severely limited and “restricted application” will be phased out.

If you have clients that are nearing retirement, now is a great opportunity to reach out to those individuals and schedule some time to discuss their options. For 180 days following the date the bill was enacted, up until April 30, 2016, you can still implement restricted application and file and suspend strategies under current rules. After that date you will need to revisit your strategies for developing retirement income for your clients.

For more information click here.