Your clients may ask you about an email they have recently received from Social Security, concerned that it may not be legitimate. You can reassure them that Social Security did email everyone that has a mySocialSecurity account, informing them of an added security measure now in place. To access mySocialSecurity, the process now requires more than a username and password, it also requires a text message security code via a cell phone to register and to sign in each time. Unfortunately, if your client does not have a cell phone, they will not be able to access their mySocialSecurity account.
For more information about the added security measure, go to https://www.ssa.gov/myaccount/MoreInformationAboutMFA.html
What is the special rule about earnings in the first year of retirement?
Sometimes people younger than full retirement age retire in the middle of the year and have already earned more than the yearly earnings limit. There is a special rule that applies to earnings for one year, usually the first year of retirement. Under this rule, you can get a full Social Security benefit for any whole month you are retired, regardless of your yearly earnings.
See Retirement Planner Special Earnings Test Rule for more information.
Clients still confused about the changes resulting from the Bipartisan Budget Act?
A great place to refer your clients when they are confused about all of the “changes” is the Financial Planner Page. It is a great place to start for anyone with questions on how the changes may affect them. It is current and lists all available resources in one spot for easy reference.
No need to keep your page a secret, send your clients to it as well. https://www.ssa.gov/thirdparty/financial-planners.html