Silver’s Social Security Visualizer™ has been updated to reflect new law:
| Desktop Edition: | Download and install the latest version |
| Online Edition: | Silver Online is updated – simply log in |
Learn more about the new law and changes to Silver below.
As of November 2, 2015 the Bipartisan Budget Act (BBA) of 2015 has been signed into law. The rule changes move to simplify the system and close what are now being called “loopholes.” The simplified rules mean that once an individual files for any of their Social Security benefits, they are deemed to have filed for all Social Security benefits for which they are eligible. Suspension of benefits will allow for Delayed Retirement Benefits to begin to accrue, however any benefits based on the wage earners benefits are also suspended, and when benefits are re-filed there are no retroactive benefits available.
In short, this means the “File and Suspend” and “Restricted Application” strategies are no longer available. There are conditions allowing for limited use of these strategies. The table below provides a summary of the availability of the “File and Suspend” and “Restricted Application” options for married couples. This doesn’t mean that retirees can’t, and shouldn’t, optimize their Social Security claiming strategy, but it does simplify the options available.
Silver’s Social Security Visualizer™ has been updated to reflect the new law. “File and Suspend” and “Restricted Application” options will only be available for the limited clients still eligible, based on age and marital status. Desktop Edition Note: The desktop edition allows entry of birth date or age, enter birth date for accuracy.
| Desktop Edition: | Download and install the latest version |
| Online Edition: | Silver Online is updated – simply log in |
