Title: Taking spousal benefits on wife's SS, then switching to my own benefits at 79.

I've bought your financial planning software but have a key SS benefit question that I seem to be getting different answers on. I hit FRA in a few months and expect to retire sometime in 2022 and begin taking my SS benefits when i am 70. My wife just hit her FRA and wants to continue in her part time job for the foreseeable future. My wife would like to begin taking her SS benefits now, since her current income from her part time job will not impact her SS. Her full benefit will be substantially less than mine. Can I take spousal benefits on her SS benefits until I am 70, then switch to my SS benefits, and my wife then stop taking her benefits and switch to spousal benefits off my payments, which is 50% of mine? I thought this strategy was phased out a few years back for those born after a certain year. My wife was born 11/1995, i was born 01/1956.

thank you.

Hi. No. Only people who were born prior to January 2 1954 are allowed to apply for spousal benefits without also being required to apply for their own benefits at the same time. So, there's no way that you could collect spousal benefits while letting your own benefit rate grow until age 70.

And, no, your wife will not be able to stop drawing her own benefits and collect spousal benefits instead. However, what your wife could do when you apply for your benefits is apply for an excess spousal benefit. She'll only qualify for an excess spousal benefit, though, if 50% of your primary insurance amount (PIA) is more than her own PIA. A person's PIA is equal to their Social Security retirement benefit rate if they start drawing their benefits at full retirement age (FRA).

For example, let's say Mary files for her Social Security retirement benefits at full retirement age (FRA). Mary's monthly benefit rate is then equal to her PIA, which in Mary's case is $1200. 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 $300 (i.e. $3000/2 - $1200). Mary would then be paid her excess spousal amount in addition to her own benefit, giving her a total benefit rate of $1500 (i.e. $1200 + $300).

Best, Jerry