Larry, I am still employed and my full retirement date isn't for another year. My anticipated monthly benefit at full retirement is $3,334 per month. My wife hasn't worked for 30 years. She has reached her full retirement age of 66 yrs 4 months. My understanding was since she is at full retirement age, she could file for spousal benefits now (even though I am not retired yet) and secure the 50% of my anticipated benefit at my full retirement (or $1,667 per month now). We received her first benefit and it was only $810. First, is she in fact entitled to the $1,667? Second, if the answer is no, then is it possible to rescind the filing for benefits and wait until a later date? Thank you.

Hi. No, not if you aren't yet drawing your benefits. Your wife can't get spousal benefits from your record until you start drawing your Social Security retirement or disability benefits.

To answer your question, your wife could withdraw the application she filed on her own account, but that would almost certainly be disadvantageous. Since your wife's own benefit rate is apparently well below half of your full retirement age rate, her best filing strategy is likely to claim her own Social Security retirement benefits at her full retirement age (FRA), and then claim spousal benefits when you claim your benefits.

Here's an example of how that works. Let's say Mary files for her Social Security retirement benefits at her FRA. Mary is then paid a monthly benefit rate equal to her full primary insurance amount (PIA) of $800. Several years later, Mary's husband applies for his benefits and his PIA is $3000. Mary's excess spousal benefit would then be calculated by subtracting her PIA from 50% of her husband's PIA, which in Mary's case amounts to $700 (i.e. $3000/2 - $800). That excess spousal amount would then be paid in addition to Mary's own benefit, giving her a combined benefit rate of $1500 (i.e. 50% of her husband's PIA). If Mary had waited to claim her own benefits until her husband applied for his benefits, she would have simply lost out on drawing her own benefit rate of $800 per month for several years.

You and your wife may want to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully compare and analyze all of your various options so that you can determine the best overall strategy for maximizing your benefits.

Best, Jerry