Table of Contents

Chapter 1: The History of Social Security Retirement Benefits

Section 1:
The Social Security Act of 1935

Section 2:
The Social Security Trust Funds

Section 3:
The Senior Citizens Freedom to Work Act of 2000

Section 4:
2010 Amendment to the Payback Provisions

Section 5:
The Bipartisan Budget Act of 2015

Section 6:
The Social Security Fairness Act

Chapter 2: The Basics

Section 1:
Key Definitions
Common Acronyms

Section 2:
Benefit Basics

i. Who is Eligible for Benefits?

ii. Currently Insured vs. Fully Insured

a. Fully Insured

b. Currently Insured

c. Employees Not Covered

iii. How to Apply for Benefits

iv. When to Apply and How Benefits are Paid

v. What is FRA?

Section 3:
What is PIA and How it is Calculated using AIME?

Section 4:
Reductions and Increases to Benefits

i. Benefits before FRA

ii. Benefits after FRA

iii. Recalculating PIA based upon Additional Earnings

iv. Cost of Living Adjustments (COLAs)

Section 5:
Deemed Filing and the Effect on Benefits

i. Exceptions to the Deemed Filing Rule

Chapter 3: Spousal Benefits

Section 1:
Eligibility for Spousal Benefits

Section 2:
Meeting the Marriage Requirement

Section 3:
Calculating the Spousal Benefit

Section 4:
Spousal Benefits and Early Retirement

Section 5:
Spousal Benefits at or after FRA

Chapter 4: Widows and other Survivor Benefits

Section 1:
Who is Eligible for Widow(er) or other Survivor Benefits?

i. Surviving Spouse

ii. Deceased Worker’s Children

iii. Deceased Worker’s Parents

iv. Former Spouse of Deceased Worker

Section 2:
When can Benefits be Elected?

Section 3:
How are Benefits Paid?

Section 4:
How is the Widow(er)’s Benefit Calculated?

Section 5:
When Does Entitlement to Benefits End?

Chapter 5: Rules Related to Common Law and Same-Sex Marriage

Section 1:
Common Law Marriage

Section 2:
Same-Sex Marriage

Chapter 6: Divorce

Section 1:
Eligibility for Benefits
Length of Marriage, Minimum Age, Current Marital Status

Section 2:
Independently Entitled Divorced Spouses

Section 3:
Survivor Benefits of a Divorced Spouse

Chapter 7: Special Provisions Involving Dependent, Minor and Disabled Children

Section 1:
Child in Care Rules

i. Benefits for the Caregiver

ii. Children’s Benefits

Section 2:
Family Maximum Benefits

Chapter 8: The Earnings Test

Section 1:
When does the Earnings Test Apply?

Section 2:
How are Earnings Defined?

Section 3:
Calculating the Earnings Test Forfeiture Pre-FRA

Section 4:
The “Special Rule” for the Year FRA is Attained

Section 5:
Special Earnings Limit Rule: Grace Year

Section 6:
Adjustment to the Reduction Factor

i. What is ARF?

ii. How is ARF calculated?

iii. Adjustment to benefit after ARF

Section 7:
Procedural Considerations

How Earnings are Reported
How Forfeited Amounts are Withheld
The Effect of the Earnings Test on Auxiliary Benefits

Chapter 9: Taxation of Social Security Benefits

Section 1:
History of the Taxation of Social Security Benefits

Section 2:
Formula for Determining the Taxable Portion of Benefits

i. Combined/Provisional Income

ii. Tax Efficiency of Social Security

Section 3:
State Taxation of Social Security Benefits

Chapter 10: Miscellaneous Provisions

Section 1:
“Do Over” Option Rules

i. Effects of Utilizing the Do-Over Option on later Benefits

ii. Important Do-Over Considerations

Section 2:
Important Timing Issue: Attained Age

Section 3:
Important Timing Issue: Backdating Payments

Chapter 11: Medicare Basics

Section 1:
Overview of Medicare

Section 2:
Medicare for Higher Income Beneficiaries

Chapter 12: Claiming Strategies

Introduction to Our Approach
Education
A Comprehensive Planning Approach
An Understanding of the Claiming Rules

i. File and Take

ii. File and Suspend

iii. Restricted Application

iv. Start, Suspend, Restart

v. Widow’s Strategies

vi. Sample Case Study