Hi Larry! My husband and I both reach full retirement age (66) this year, he in April, me in September. My social security monthly benefit is less than one-half of my husband's. We are trying to decide who should file for the spousal benefit for 4 years, while the other waits until age 70 to file. Also, if my husband takes the spousal, does he need to wait until September when I'm eligible to apply for full benefits and then would he file for a retroactive payment to his full retirement date which is 5 months earlier than mine? We are both still working and will probably work another 2 years. Thanks so much for your help!

Hi,

Your husband can't qualify for spousal benefits for any months prior to your first month of entitlement. So, if you file effective with April or sooner, he could file for just spousal benefits effective with April. But, if you wait until September to start your benefits, your husband couldn't qualify for spousal benefits prior to September.

Depending on how much you are earning, drawing benefits starting with April may be limited by the Social Security earnings test (https://www.ssa.gov/planners/retire/whileworking2.html). That won't be a problem, though, if you will be earning less than $45,360 prior to September this year. However, if you do start drawing your benefits effective with April, your benefit rate will be reduced by roughly 2.78% from your full retirement age rate.

What you and your husband should strongly consider doing is using the maximization software available on this website to compare all of your various options and determine the filing strategy that you believe would be best.

Best, Jerry