Social security - Bipartisan Budget Act Of 2015 Flashcards
How did the BBA15 affect the File and Suspend rules.
Completely eliminated it. No spousal or family benefits are available on the primary’s PIA until the primary files for and starts collecting benefits.
Under the new BBA15 rules, who is eligible for file and suspend?
No one. File and suspend is no longer available to any one.
How did the BBA15 affect rules for Claim Now, Claim More Later?
It is still available to those born in 1953 and earlier. For those born in 1954 and later it is not available.
Note - Some born in 1953 will reach age 64 in 2017.
In what year will the CNCML strategy phase out?
The final year would be 2023. This is year that those born in 1953 will all turn 70.
With this strategy, a person born in 1953 or earlier would claim a spousal benefit as soon as they eligible (assuming they are 62 or older, would occur as soon as their spouse starts benefits).
