If your spouse is not collecting a retirement benefit when you apply for an early retirement benefit, you will not be deemed to be applying for your spousal benefit.
In the 1990s, the rise in unemployment was masked by many people taking early retirement and going on disability benefit - something which has not happened so far.
But much of the gap represents permanent departures from the labour force because of early retirement or workers going on disability benefit.
By starting the Survivor Benefit early, the Surviving Spouse could wait to take his or her retirement benefit, allowing this retirement benefit to earn the delayed retirement credits up to age 70.
The retirement benefit collection status of your spouse in the month you file for early retirement benefits determines whether you are deemed to be also be applying for spousal benefits.
If that happens, you could lose 20% or more of the value of your pension, because the new employer can take advantage of a loophole in the law to rescind the early-retirement subsidy, if the plan offers this additional benefit.
By starting retirement benefits early, Sally permits Joe to start collecting a spousal benefit immediately.
The total benefit your spouse will receive is her retirement benefit, inclusive of any reduction, due to taking benefits early, or increment, due to taking benefits late, plus the excess spousal benefit.
It sure seems that way because when the spouse is collecting a retirement benefit, the excess spousal benefit (potentially reduced for taking spousal benefits early) comes into play.
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