Social Security Maximizer / How to decide on benefits of restricted claim?

A married client is already taking Social Security benefits. Her spouse is eligible for Social Security on his own record. He is about to attain full retirement age and wants to start taking benefits. How do I find out the benefit of restricted claim (spousal benefits while delaying own benefits)?

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  1. You can easily accomplish this by selecting the plan type as “joint” and choosing “Specific Scenario Output” option on the right. On the next screen enter client’s benefits start date as 1st of next month and spouse’s desired benefits start date. You can then run the “Scenario Report” twice, with ‘File & Suspend’ option and without it. Compare the present value of their combined benefits in these two reports to make a decision.

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