1. Social Security:
Unlock Its Potential

2. Social Security Trivia
Mr. Ernest Ackerman
Miss Ida May Fuller
First recipient of Social Security retirement benefits
Contributed $24.75 to Social Security
Received $0.17
Received $22,888.92
Source: Historical Background And Development Of Social Security,

3. Social Security Snapshot
Income of Americans Age 65+1
For 2016:2
Average monthly payments: Retired worker = $1,341 Retired couple = $2,212
Maximum monthly Social Security retirement payment to someone retiring at age 66: $2,639
1Income of the Aged Population, Fast Facts & Figures About Social Security,
22016 Social Security Changes, ssa.gov/news/press/factsheets/colafacts2016.html

4. Timing Work Taxes Awareness
Agenda
Timing Work Taxes Awareness

5. Timing

6. What’s Your Full Retirement Age (FRA)?
Timing
What’s Your Full Retirement Age (FRA)?
Eligible for 100% of Benefits
Birth Year
FRA 66
1955
mos.
1956
mos.
1957
mos.
1958
mos.
1959
mos.
1960-Later 67

7. Early vs. Delayed Filing: How it Affects Your Social Security Benefit
Timing
Early vs. Delayed Filing:
How it Affects Your Social Security Benefit
Amount of full Social Security benefit received (2016)1
1ssa.gov, 2016

8. How Delaying Benefits May Reduce Your Clients’ Tax Burden1
Timing
How Delaying Benefits May Reduce Your Clients’ Tax Burden1
Age 62
Age 70
1This chart is hypothetical and for illustrative purposes only.

9. Work

10. How Will Working Impact My Benefit?1
Before FRA
At FRA
After FRA
1How Work Affects Your Benefits, ssa.gov, 3/17

11. Work
How Will Working Impact My Benefit?

12. Taxes

13. How Will Your Clients’ Social Security Benefits be Taxed?
Taxes
How Will Your Clients’ Social Security Benefits be Taxed?
Benefits may be taxable based on “Combined Income”
*Modified Adjusted Gross Income is also referred to as “MAGI.”

14. if married, filing jointly)
Taxes
How Will My Social Security Benefits be Taxed?1
Less than or equal to
$25,000 if you file as an individual ($32,000 if married, filing jointly)
$25,001 - $34,000 ($32,001 - $44,000
if married, filing jointly)
($44,000 if married, filing jointly)
If Combined Income is…
% of Social Security that’s taxable
More than $34,000
1Benefits Planner: Income Taxes And Your Social Security Benefitsssa.gov, retrieved 3/17

15. Possible Ways to Reduce Combined Income
Taxes
Possible Ways to Reduce Combined Income
Tax-free retirement income
Roth IRAs & Roth 401(k)s

16. Awareness

17. The Bipartisan Budget Act of 2015: Effects on Social Security
Awareness
The Bipartisan Budget Act of 2015: Effects on Social Security
What’s changed
What’s the same
No more double-claiming
Dependents can’t claim payments if you suspend your payments
Although file-and-suspend benefit is still an option—it has changed
Married individuals are still eligible to claim payments worth up to 50% of the higher-earning spouse’s benefit
All workers have the option to increase their monthly benefits by delaying their claim of payments until age 70

18. Your Social Security snapshot
Awareness
Your Social Security snapshot
Use this worksheet to assess your individual situation
MAI035

19. Questions to ask before taking benefits:
Awareness
Questions to ask before taking benefits:
do I plan to stop working?
Do I need this extra income?
Will I have to pay taxes on my income? How long will I live?
When

20. Main Idea
To make the most of your Social Security benefits, consider all the factors. 20

21. Social Security
Timing
Work
Taxes Awareness 21

22. 1 2 3 Next Steps Next Steps Download
your social security statement by logging on to ssa.gov/myaccount
Estimate what your monthly
income needs will be in retirement using the client worksheet.
Meet with your financial advisor &
tax professional to evaluate your overall portfolio and create an income plan. 22

23. Disclosures
This material is general marketing material, and provides only general plan and retirement information. This material is not intended to provide tax, accounting or legal advice. As with all matters of a tax or legal nature, investors should consult a tax or legal counsel for advice. Hartford Funds is not providing any investment advice of any kind (impartial or otherwise) in this material and is not acting as a fiduciary in connection with the preparation or distribution of this material. Investors should consult their own financial adviser for advice or recommendations with respect to the information addressed in this material.
All investments are subject to risk, including possible loss of principal.
Investors should carefully consider the investment objectives, risks, charges, and expenses of Hartford Funds before investing. This and other information can be found in the prospectus and summary prospectus, which can be obtained by calling (retail) or (institutional). Investors should read them carefully before they invest.
Hartford Funds Distributors, LLC, Member FINRA.
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