After getting questions from two different clients on this subject, I thought I should research and share. This Act, known as the Security Benefit Protection and Opportunity Enhancement Act, was signed into law by the President as part of the Bipartisan Budget Act of 2015 last November.
It is my understanding that Section 831 Closure of Unintended Loopholes, will prevent anyone who is under the age of 62 as of December 31, 2015 from drawing spousal benefits while allowing their own retirement benefit to continue to grow.
There is a “grandfather” period until May 2, 2016 (six months from enactment) for persons who have or will reach age 66 by April 29, 2016.
Facebook Comments