Restricted Application Strategy * The Bipartisan Budget Act of 2015 was signed November 2. This common filing strategies currently offered will no longer apply starting in 2016.

 

 

Currently: A spouse who is at or past FRA, and who has not received any benefits, can choose:
o A spousal benefit only (referred to as a Restricted Application).
o His or her own individual benefit.
Anyone 62+ by the end of 2015: Is grandfathered and retains the ability to restrict their claim to spousal benefits only if they wait to collect until they reach their FRA.
After year-end 2015: Individuals who are younger than 62 will not have the choice of which benefit they collect when they reach FRA. Regardless of their age, they will be “deemed” to have filed for the highest benefit. They will no longer have the option to restrict their benefit to their spousal benefit only.