1 Get Ready to Retire Seminar Presenter – [insert name] Maximizing Social Security Benefits

2 Get Ready to Retire Five Key Areas of Retirement

3 Get Ready to Retire Social Security Employer Pension Personal Savings Retirement Income “Three-Legged Stool”

4 Get Ready to Retire Social Security Benefits About 40% Social Security Benefits About 40% Total Retirement Income Savings/ Private Pensions/ Investments Source: Social Security Administration, Understanding the Benefits 2015 Social Security’s role in your income plan

5 Get Ready to Retire What was the average monthly Social Security benefit in 2015? a. $1,328 b. $1,487 c. $1,864 d. $2,219 Source:

6 Get Ready to Retire ssa.gov How much will you receive?

7 Get Ready to Retire 1 1 To be eligible you (or your spouse) must have worked at least 10 years. Your benefit is based on the income from your 35 highest earning years. If you haven’t worked 35 years, zero income will be used for any years less than Three important facts

8 Get Ready to Retire Year of BirthFull Retirement Age and 2 months and 4 months and 6 months and 8 months and 10 months 1960 and later67 Source: Social Security Administration, ssa.gov Full Retirement Age

9 Get Ready to Retire % 120% 110% 100% 90% 80% Retire at age 66 with full monthly benefits Assuming Full Retirement Age at 66. Percent of Full Retirement Benefits Source: Social Security Administration, ssa.gov When should you start collecting?

10 Get Ready to Retire Q Q When should you retire? When should you start collecting Social Security? Two very different questions

11 Get Ready to Retire THE RULE OF

12 Get Ready to Retire Understanding the Earnings Limit Source: Social Security Administration, ssa.gov 2015 Earnings Limit Less Than Full Retirement Age $1 of benefits withheld for every $2 in earnings above the limit $15,720/year Current Year Individual Reaches Full Retirement Age $1 of benefits withheld for every $3 in earnings above the limit for months prior to attaining full retirement age $41,880/year Month Individual Reaches Full Retirement Age and Beyond Reduction no longer applies Unlimited Do you plan on working during retirement?

13 Get Ready to Retire Full Retirement Age % of Benefit at Age 62 % of Benefit at Full Retirement Age 6635%50% 6732%50% Source: Social Security Administration, ssa.gov Spousal Benefits

14 Get Ready to Retire A divorced spouse can get benefits if: Marriage lasted at least 10 years. Divorcee is 62 or older and not remarried. Divorcee Benefits

15 Get Ready to Retire Your widow(er) can receive: Reduced benefits as early as age 60. Full benefits at full retirement age or older. Widow(er) Benefits

16 Get Ready to Retire Which claiming strategy is right for you?

17 Get Ready to Retire We can provide an analysis based on the claiming strategies and your age. Social Security Explorer

18 Get Ready to Retire We can provide an analysis based on the claiming strategies and your age. * The Social Security Administration defines your “combined income” as your adjusted gross income + non-taxable interest + half of your Social Security benefits. Income* AmountFull Retirement Age (66) File individual tax return and total income is $25,000 - $34,000 Up to 50% of benefits may be taxable File individual tax return and total income is more than $34,000 Up to 85% of benefits may be taxable File joint tax return and total income is $32,000 - $44,000 Up to 50% of benefits may be taxable File joint tax return and total income is more than $44,000 Up to 85% of benefits may be taxable Source: Social Security Administration, “Benefits Planner-Taxes and Your Social Security Benefits, ” SSA.gov Social Security and Taxes

19 Get Ready to Retire 1. Talk to a Transamerica retirement professional: Visit the official Social Security website: ssa.gov Two ways to learn more

20 Get Ready to Retire Securities are offered through Transamerica Investors Securities Corporation (TISC), Member FINRA, 440 Mamaroneck Avenue, Harrison, NY The role of the retirement planning consultant is to assist you with your savings and investment plan. There are no fees or commissions for meeting with your retirement planning consultant, who is a registered representative with TISC. Investment advisory services are offered through Transamerica Retirement Advisors, Inc. (TRA), registered investment advisor. Transamerica Retirement Solutions, TISC, and TRA are affiliated companies. Neither Transamerica Retirement Solutions, TISC, TRA, their affiliate companies, nor their representatives give tax or legal advice. Please consult with your own tax and legal advisors. Products and services offered by TRA and TISC to retirees are not part of your employer- sponsored retirement plan. © 2015 Transamerica Retirement Solutions Corporation PT_PPT_TRS_Social Security (03/15)

21 Get Ready to Retire Q: What is the earliest age most people can start getting Social Security benefits? A: Age 62

22 Get Ready to Retire Q: When do your Social Security benefits stop increasing? A: Age 70

23 Get Ready to Retire Q: At what age would waiting to get your full retirement benefits make up for those few years of receiving early benefits? A: Age 78

24 Get Ready to Retire Q: When can you start getting your full retirement benefits? A: At full retirement age

25 Get Ready to Retire Q: What’s the name of the tool Transamerica uses to determine the Social Security claiming strategy best for you? A: Social Security Explorer

26 Get Ready to Retire Q: What is the number of working years Social Security uses to calculate your benefit amount? A: 35 years

27 Get Ready to Retire Q: How many years do you have to work to qualify for Social Security benefits? A: 10 years

28 Get Ready to Retire Q: What is the address of the official Social Security website? A: ssa.gov