An Introduction

Hi. Welcome to BourGroup and my blog. Phil

Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.

I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.

"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.

Tuesday, March 13, 2007

Social Security deferrals

If a husband, for example, delays retirement past his NRA (FRA) (that is, normal retirement age or full retirement age) – say age 66, then the spouse only gets 50% of his benefit at the age of 66 – not 50% of the benefit at age 70 or whatever the delayed time was.
READ ON:
She only gets half his Primary Insurance Amount (his pension at his Full Retirement Age), assuming that she waits until her FRA. She never gets more than 1/2 (as a spouse) even if he gets delayed retirement credits.HOWEVER, she will benefit from his delayed credits as a WIDOW, if he predeceases her. In that case she gets his current benefit (but gives up the spousal benefit).
Jean Fullerton

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The SS representative was right on this. While your client is alive, the spouse can only collect 50% of his benefit at his FRA. However, when he dies, her benefit will be increased to his full delayed benefit. The spouse only benefits from his deferral of receipt after he dies.

Robert Frey
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