Social Security Fairness Act
I’m a retired Illinois teacher, age 68, drawing my pension. I do have 40 quarters of SS but my benefit has been cut in half to $127 due to WEP. I’ve had to pay extra each year to cover my Medicare Premiums. My husband will be 68 in March. We had planned to wait until he was 70 to file for SS. Now with the Social Security Fairness Act passing, we feel that he should file now so that I can collect as his spouse. His benefit will be approx $3600 right now (approx $500 per month less than if he waited until age 70). But my spousal benefit would be about $1600, so it more than makes up the difference. Do you agree with my thoughts? I’m guessing that I should wait until his benefits are established before applying as his spouse. Thank you. I enjoy listening to you each week on WGN.
Terry Says
No, I don’t agree. First, wait until your full benefit is restored. Second, he should wait until age 70. It will make a big difference in his lifetime benefits, and you’d get his full benefit if he predeceases you!
