Melia Advisory Group expands their Social Security analysis services to include the 62/70 split strategy for married couples, addressing regulatory changes from the Bipartisan Budget Act of 2015 and optimizing lifetime benefits.
-- Melia Advisory Group has expanded its Social Security analysis services to include specialized guidance on the 62/70 split strategy, a filing approach that could deliver over six figures in additional lifetime benefits to married couples who optimize their claiming decisions.
More information is available at https://meliagroup.com/social-security-analysis/
As the company explains, Bipartisan Budget Act of 2015 fundamentally altered claiming options for married couples, eliminating historically popular strategies such as restricted application for individuals born on or after January 2, 1954, and largely eliminating the file-and-suspend approach for new participants after April 29, 2016.
For individuals who turned 62 on or after January 2, 2016, the deemed filing now applies at age 62. It continues beyond full retirement age, requiring anyone eligible for both retirement and spousal benefits to file for both simultaneously. Melia Advisory Group explains that this legislative shift removed the ability to claim one benefit while allowing the other to grow, making professional analysis necessary for couples navigating the post-2015 regulatory environment.
Despite these constraints, a powerful financial incentive remains: Social Security benefits increase by approximately 8% annually for each year an individual delays claiming between full retirement age and age 70. This cumulative growth—totaling approximately 24% to 32% from full retirement age to 70, depending on an individual's full retirement age—provides the economic foundation for strategic planning.
The 62/70 split strategy addresses this opportunity by having one spouse claim benefits as early as age 62 to provide immediate household cash flow, while the higher-earning spouse delays until age 70 to accumulate delayed retirement credits. In each case, Melia Advisory Group evaluates whether this strategy aligns with individual situations, accounting for spousal benefit eligibility, survivor benefit considerations, and exceptions to deemed filing rules that may apply to surviving spouses.
The firm's Social Security analysis reviews individual earnings and work history, examines benefit-timing options across multiple claiming ages, and assesses spousal and survivor benefit strategies tailored to each couple's unique regulatory position.
Social Security filing decisions are permanent and carry lifelong financial consequences, and Melia Advisory Group recommends a Social Security analysis for couples approaching age 62 or already at full retirement age.
For more details, visit https://www.meliagroup.com/
Contact Info:
Name: Contact Melia
Email: Send Email
Organization: Melia Advisory Group
Address: 5424 S Memorial Dr Building E, Tulsa, Oklahoma 74145, United States
Website: https://www.meliagroup.com/
Source: PressCable
Release ID: 89184848
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