When filing for Social Security benefits, a person may have a choice of filing on their own account with the Social Security Administration (SSA) – i.e., filing based on their own work history as linked to their Social Security Number – or filing on someone else’s account (e.g., a husband might file for spousal benefits based on his wife’s account).

The age at which a worker, spouse, or survivor receives their full retirement benefit amount. Claiming benefits before FRA results in a reduced benefit, and claiming certain benefits after FRA can lead to an increased benefit. A worker’s FRA varies based on their year of birth and can be as high as 67 for younger clients. 

The benefits received by a person filing for benefits on their own SSA account. A summary of the rules around worker benefits, spousal benefits, and many other aspects of Social Security can be found in this document (PDF).

The benefits received by the spouse (and/or in some cases, the ex-spouse) of a worker, when filing for spousal benefits on the worker’s account. 

The benefits of a widow or widower (also, in some cases, children and even dependent parents) are eligible to be received based on their deceased family member’s work record. LifeYield’s Social Security Optimizer currently only considers benefits for a surviving spouse, not the other family members.

An amount determined by the SSA which represents a worker’s anticipated monthly benefit if they claim at their FRA. This monthly benefit amount is used as the basis for all benefit calculations based on the worker’s record: the worker’s own benefit, plus any dependent benefits such as those for a spouse or widow(er). Also known as Primary Insurance Amount (PIA). 

The type of application a spouse files in order to claim spousal benefits when they’re eligible for either their own benefit or a spousal benefit at FRA or later. Their application for benefits is “restricted” to only the spousal benefit from their spouse’s record. 

For a worker who receives pension from government employment, reached initial eligibility in 1985 or later, and worked fewer than 30 years in a job where Social Security taxes were paid. A reduction in their FRA benefit of up to half of their monthly government pension amount may apply. This adjustment also impacts dependent benefits such as spousal benefits but does not impact survivor benefits. More details on the WEP and the rules surrounding it (including some exemptions)  are available in this document (PDF).

For a spouse or widow(er) receiving spousal or survivor benefits on another worker’s record, and who receives a pension from government employment; their benefit is typically reduced by 2/3 of the monthly pension amount and may be eliminated completely. More details on the rules regarding the GPO can be found in this document (PDF).