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In January of 2016, a leading Social Security attorney, Avram Sacks, who is also a user of Social Security Timing® contributed an article to our newsletter that suggested that people born on or before Sept. 1, 1950, may be eligible to prospectively file and suspend benefits prior to April 30 and be treated as though they had suspended under the laws in effect prior to the effective date under the Bipartisan Budget Act of 2015. In other words, the group born between May 2 and Sept. 1, 1950, could request filing and Voluntary Suspension prior to April 29, 2016, and any dependents would be able to claim benefits during the period of suspension.

As we developed the changes to the Social Security Timing software to accommodate the new rules, we took the conservative position of only suggesting a Voluntary Suspension to enable benefits for dependents only if the claimant was born on or before May 1, 1950, because we believe that advisors may not want to make recommendations that may need to be litigated if the Social Security Administration did not agree with the interpretation. At the same time, we believed that it was important to share Attorney Sack’s opinion as it may be highly valuable to some people, so we published his article in our newsletter.

As the April 29 deadline approaches, please be aware of this assumption that our software makes, and please also be aware that the disclosures in the final page of the report are specifically applicable to situations like this: “This report is intended as a diagnostic tool to suggest potential election options that may be beneficial. The election options considered may not be exhaustive.”

We are not a law firm and do not provide education beyond commonly accepted interpretations of basic Social Security rules. If you have clients with specific circumstances that are discussed in Attorney Sacks article, we suggest you advise them to seek counsel, or at minimum, document every conversation they have with Social Security personnel to ensure that if they tried to claim under the prior law, and future interpretations of the new rules suggest they should have been eligible, that they may have recourse.

Joe Elsasser, CFP®, RHU, REBC
Founder and Creator

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