The File and Suspend Strategy

Prior to 2016, workers could file for benefits (making their partners eligible to claim spousal benefits), then suspend their own benefits in order to maximize their credits for deferred filing. This so-called file and suspend strategy meant that a lower-income partner could take advantage of spousal benefits while the primary earner accrued delayed retirement credits, thereby increasing their benefit amount.

However, this “have your cake and eat it, too” loophole was closed with the Bipartisan Budget Act of 2015, which took effect in .

While it is still possible to file for benefits and then suspend payments temporarily, any other benefits that would normally be available on your account (such as spousal benefits) are no longer payable during such suspensions. Continue reading →