I’m approaching the age where I can collect my full Social Security benefit in about six months. I’ve been widowed for two years, so spousal benefits aren’t a factor at this time.
That said, I’m currently living with a woman whom I intend to marry as soon as it works for us from a financial standpoint. This woman, whom I’ll call Joan, because that’s her name, is a widow who has been receiving survivor’s benefits for the past twenty years. For background, she has reached the age of 60, and has no history of paying into the Social Security system.
My understanding is that when she marries me, she becomes eligible to collect a spousal benefit of 50% of my retirement benefit. What I don’t know:
How long do we need to be married in order to render herself eligible to receive a spousal benefit? I’ve seen a summary that suggests she needs to have been married to me for a year, but I also saw a suggestion that so long as she was receiving a survivor’s benefit in the month before the marriage began, she becomes eligible for a spousal benefit immediately.
She had also been speaking with a SSA case worker the other day, and it sounded like the worker was telling her that even if we married, the survivor’s benefit would not be in jeopardy, and she would be able to collect that instead of the spousal benefit when the time comes for her to make the choice. For context, the survivor’s benefit exceeds the spousal benefit by somewhere between $500 and $1000 per month.
So, what it looks like right now is:
A. I start collecting $2600 in SS benefits in September.
We remain unmarried, and she continues to collect ($2100) in survivor’s benefit.
Together we now receive ($4700)
OR
B. We marry in August, and she begins collecting $1300 in spousal benefits in September
Together we now receive $3900. This is less than $4700, but carries the benefit that now we’re married.
OR
C. We marry in August, and she opts to keep collecting $2100 in survivor’s benefits in September.
OR
D. We get married and she stops collecting ANYTHING until we’ve been married for a year, at which point she starts collecting $1300.
Obviously, C. is the most desirable outcome fiscally, but it also feels like a pipe dream. D. is the worst, with the only obvious benefit being that she can come onto my employer-sponsored medical plan and stop paying for Medicare Part B for as long as I remain employed (given the size of my nest egg, I anticipate being able to retire the year I turn 107).
Can anybody share with me the true rules that apply to our specific circumstances?
TIA.
