Budget Deal Changes Social Security Rules
The House of Representatives just passed a two year budget deal to avoid a default by the Treasury. Next stop will be the Senate. One provision of this deal is a change in Social Security rules. Specifically, the ability to use the file and suspend method to get extra benefits will be curtailed. This is a valuable benefit, and it will still be available to people of a certain age. We’ll write more about this change as details emerge, but it’s important, if you’re nearing Social Security eligibility, to know and perhaps act on all of the possible techniques to increase your benefits legitimately.