An Important Note to Our Members on Social Security:
April 30, 2016 is the first day that the new Social Security laws take effect. Therefore, if any of your eligible clients would like to take advantage of the "File and Suspend" claiming strategy, they must request a suspension of their benefits by no later than April 29, 2016.
If your clients who were born on or before May 1, 1950 suspend their benefits before the April deadline, auxiliary benefits based on their work record (i.e. spousal and child benefits) will still be paid while their benefits are in suspension.
Beginning April 30, 2016, any person, regardless of age, will no longer be able to file and suspend their retirement benefits or suspend their benefits if they have already filed, and still receive auxiliary benefits based on their work record while their benefits are in suspension.