Hi, I would like your recommendation for our situation:
My husband, Tom is 60 (will be 61 next month), I am 59 (will be 60 in two months)
Here are the retirement benefits for Tom: 62/$1,358, 66.6/$1,862, 70/$2,384
Here are my retirement benefits: 62/$1,110, 66.6/$1,540, 70/$1,951
We are looking at retiring at 70. How and when can I draw half of Tom's retirement amount? What would my amount be?
We have spoken about getting a divorce and remarry after age 70. If we do this, what age should each of us be when we divorce (Tom is exactly one year older than me)? If we remarry at 70, do we both have to be 70 first?
I want to know how we can receive the most benefits!
Thank you,
Marilyn

Hi Marilyn,

Based on the benefit rates cited in your question, you would never be able to draw 50% of your husband's retirement benefit as a spouse. Due to the Social Security amendments passed by Congress in 2015, since you were born after January 1 1954 you'd be required to file for your own retirement benefits whenever you applied for spousal benefits (https://www.ssa.gov/planners/retire/deemedfaq.html). And, since your own full retirement rate is well over half as much as your husband's, you would only be eligible for your own retirement benefits.

Neither a divorce nor divorce and remarriage would change your options, except for eliminating your ability to possibly receive future survivor benefits if you divorced prior to having been married for at least 10 years.

The best option may simply be for both you and your husband to wait and file for your own retirement benefits at age 70. However, there are many other options available to both of you, so you may want to strongly consider using our maximization software to compare your options and determine which option you believe is best.

Best, Jerry