|
BTW, here's a summary of the OP (remember the OP?)
1. You can get up to six months of benefits as a lump sum, if you file for benefits up to six months after your FRA (Full Retirement Age), and ask for the benefits starting at your FRA. Your other option is to get an increased monthly amount, but no back-benefits.
2. You can get up to five years or so of benefits as a lump sum by first filing at your FRA, then suspending benefits, and then asking for all your benefits from your FRA to age 70 when you reach age 70. If you do this, you get the big lump sum, but your benefit going forward is the amount you'd have gotten if you'd started at your FRA, without any credit for waiting until age 70. This is a strategy that will make sense only under certain circumstances.
|