There are several strategies for filing included on our Social Security Optimizer such as:
Own-‹own›: The worker has filed for their own benefit. “own” is the age the worker filed for their own benefit.
F&S-‹own›-‹f&s›: The worker has filed for their own benefit and then has suspended that benefit. “f&s”is the age they will “file and suspend” – this will always be FRA because a worker can only suspend their benefits after their full retirement age and after FRA the benefit does not increase. “own” is the age they will file for their own benefit.
Spsl-‹own›-‹spsl›: The worker has filed for their spousal benefit. “spsl” is the age they will file for their spousal benefit. “own” is the age they will file for their own benefit. If these numbers are the same then the spouse will never file for their own benefit. If “own” is greater than “spsl” the worker has restricted their application to their spousal benefit and will fill for their own benefit at a later date.
Spsl-‹wrkr›-‹srvr›: The worker has filed for their survivor’s benefit. “srvr” is the age they will file for their survivor’s benefit. The survivor’s benefit is the only benefit that is dependent on when the deceased worker filed, so “wrkr” is the age the deceased spouse filed for their own benefit.
If you have further questions, please schedule an appointment to speak with an advisor.