Do-Overs Beware

I’ve not been able to track down the actual proposed reg at the OMB but an article by Jean Chatzky in Daily Finance deserves your attention if you recommend or know clients who are considering the Social /Security refilling strategy. That’s where someone takes SS early and later refiles paying back the prior payments, qualifying for a new higher payment. The advantage is an effective interest free loan for the earlier payments.

According to the article, the SS Administration has proposed to the Office of Management and Budget a 12-month time limit. It’s not clear if this would be retroactive and affect someone who has already elected to take SS payments but it certainly bears watching.

See full article from DailyFinance.

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