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John M

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Posts posted by John M

  1. Posted

    Hi Devin,

    Here's a variant of Julie-Joe scenario in your excellent video. Assume that Julie and Joe are of same age.

    Julie's FRA(67) benefit = $1100

    Joe's FRA (67) benefit = $2000

    Julie files for her own benefit at age 62 and receives 70% of FRA benefit which is $770 (Joe hasn't yet filed)

    Joe files 5 years later when both Joe and Julie reach FRA of 67 and is entitled to receive his FRA benefit of $2000

    What will be Julie's top off amount when Joe files?

    Will it be $230 (difference between half of $2000 and Julie's reduced benefit prior to Joe's filing)?

    Or will it be $0 since Julie's FRA benefit is higher than Joe's FRA benefit?

    Or some other number?

    Thanks,

    John

  2. Posted

    Hi Devin,

    Here's a variant of Julie-Joe scenario in your excellent video. Assume that Julie and Joe are of same age.

    Julie's FRA(67) benefit = $1100

    Joe's FRA (67) benefit = $2000

    Julie files for her own benefit at age 62 and receives 70% of FRA benefit which is $770 (Joe hasn't yet filed)

    Joe files 5 years later when both Joe and Julie reach FRA of 67 and is entitled to receive his FRA benefit of $2000

    What will be Julie's top off amount when Joe files?

    Will it be $230 (difference between half of $2000 and Julie's reduced benefit prior to Joe's filing)?

    Or will it be $0 since Julie's FRA benefit is higher than Joe's FRA benefit?

    Or some other number?

    Thanks,

    John

  3. Posted

    Hi Devin,

    I have a specific question regarding spousal benefit top off.

    My spouse who is 62 has PIA of $1500

    I am 66 (FRA) and has PIA of $2500 

    My wife is thinking of filing now and receiving reduced benefit of $1050.

    I plan to file a restricted application and claim spousal benefit of $525, which is half of my wife's reduced benefit.

    4 years from now, I will be 70 and will be entitled to $3800. My wife will be 66y4mo then (FRA)

    What will be my wife's benefit when I file for my benefit 4 years from now?

    Will it be $1050 (plus any COLA adjustments) or $1250, which is half of my FRA benefit? (I am asking this because half of my PIA $1250 is less than my wife's PIA $1500).

    Thank you in advance.

    John

     

     

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