The Foreign Service Journal, March 2016

THE FOREIGN SERVICE JOURNAL | MARCH 2016 77 AFSA NEWS letters available on the OPM website. Any electronic or paper correspondence that asks for personal informa- tion or does not direct the individual to OPM’s cyber- security website should be considered fraudulent and reported to local law enforce- ment and the Federal Trade Commission at www.ftccom plaintassistant.gov. A few AFSAmembers have reported problems reach- ing someone at the phone number provided and with the process of applying online for free credit monitoring and ID theft insurance. However, in most cases, problems have eventually been resolved. For the most up-to-date information, visit www.afsa. org/opm-breach. Should you wish to speak with someone regarding a specific ques- tions or problem, send an email to retiree@afsa.org. Popular Social Security Strategy Ending The Bipartisan Budget Act of 2015 has ended a popular option some married couples have used to maximize their Social Security benefits. It used to be the case that the higher earner could “file and suspend” their Social Security benefits on reach- ing full retirement age (FRA). Suspension meant that their benefit would continue to grow by 8 percent per year until he or she reached age 70. The lower earner could simultaneously file a “restricted application” for half of their spouse’s suspended benefit and immediately begin receiving a monthly payment. When the higher earner reached age 70, he or she could begin collecting their maximum Social Security benefits, and the lower earner could collect half of that higher benefit. The new law will end this practice, effective April 29, 2016. It also bars anyone born after Jan. 1, 1954, from filing a “restricted applica- tion” to receive spousal benefits, even if the spouse has already reached his or her FRA. Any beneficiary age 66 before May 2016, with a spouse who turned 62 before Jan. 2, 2016 may still take advantage of the “file-and- suspend” option, provided they do so before April 30. To learn more about what this change might mean for you, visit www.socialsecurity. gov or contact us at retiree@ afsa.org . n