Did you know that married couples are able to file for social security benefits and immediately suspend receipt of those benefits to a later date? By doing so, the spouse is able to collect a spousal benefit and later switch to their own benefit, assuming it’s higher. The spouse who suspended their own social security benefit can let their benefit grown by an extra 8% per year. There is more to this strategy and other social security nuances that teachers should be aware of in their retirement planning process.
Come to one of our THREE upcoming FREE retirement planning workshops for teachers to find out more about social security as well as the PSERS retirement options, lump-sum distribution, tax mitigation strategies, and much more!
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