Budget Bill Changes

Been a busy month with changes to Social Security contained in the Bi-Partisan Budget Bill signed by President Obama on November 2, 2015. As you probably know by now, Provision 831 titled “Closure of Unintended Loopholes” phases out the Restricted Application and File and Suspend strategies. These strategies represent the second leg in our three legged stool to maximize Social Security benefits. Even though File and Suspend and Restricted Application are being phased out, these strategies are still available for some folks. Even after these strategies are phased out folks still have options. To maximize benefits, married couples will still need to coordinate benefits between husband and wife.

The link below is our summary report of the changes contained in the budget bill. The report summarizes the changes, effective dates and selected strategies that are still available.

Do not hesitate to contact Marc Kiner by phone at 513-218-8505 or by e-mail at mkiner@mypremierplan.com with questions regarding the recent changes or how the changes might affect your personal situation or clients.

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