There is an increasing amount of confusion and misinformation with regards to Social Security. With the surge of Baby Boomers seeking financial and tax planning advice on retirement, having the answers to questions about how and when to claim Social Security is increasingly critical to financial professionals.
Join Martha Shedden, a Chartered Retirement Planning Counselor (CRPC) and National Social Security Advisor (NSSA), as she discusses the basics of the Social Security program. Topics covered include important historical information, how benefits are calculated, available benefits, funding mechanisms, and a review of the most recent rule changes made in the Bipartisan Budget Act of 2015.
Optimizing Social Security benefits is of utmost importance. As is the timing of claiming benefits. This course will guide you through various claiming strategies so that you can create a reliable retirement financial plan for your clients. Case study examples of the most commonly used rules and strategies provide a valuable comparison of the best vs. worst claiming decisions.
Upon successful completion of this course, participants will be able to:
- Recognize important Social Security program historical facts, changes to the program, and possible future adjustments for the trust fund to remain solvent
- Identify the components of the Bipartisan Budget Act of 2015, noting it's late passage, phase out of claiming strategies, options, and age deadlines
- Recognize the most commonly used Social Security terms and acronyms
- Note the funding mechanisms of Social Security, including maximum taxable earnings amounts
- Recognize the elements of calculating social security benefits, including how to calculate AIME and PIA
- Note the age at which full retirement benefits can be collected, time windows to fix an incorrect income election, and the life expectancy of men, women, and couples
- Identify the mechanics of the earnings test, noting exempt amounts and earnings in excess of the exempt amounts
- Recognize the rules and requirements for spousal benefits, divorced couples, and survivors
- Specify Social Security income amounts for clients electing to start at various ages, noting ways to optimize Social Security benefits through reduced benefits and delayed retirement
- Recognize the importance of aligning the Social Security election decision with management and withdrawal of other retirement assets
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Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.
Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.
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