Solving the Social Security Puzzle: What You Need to Know Before You Claim

Date: Wednesday, April 6, 2016
Time: 11:45am - 1:00pm
Location: Riverside Country Club - Provo
Speaker: Mark T. Sumsion, Scott H. Garbutt, & Flint J. Stephens

 

There are literally hundreds of Social Security claiming combinations, but the one that’s best for a specific person’s situation will analyze all of the household factors that play a part in those benefits.

Getting it right is critical: you are locked into your choices with little opportunity to change your mind. Make a mistake and you could be leaving lots of money on the table. Our presentation is designed to provide basics you need to know and consider as you plan.

The Bipartisan Budget Act of 2015 approved on Nov. 2, 2015 created a few changes to Social Security.

The main changes impact two ways to claim benefits – or strategies. These two strategies were commonly called “file and suspend” and “filing a restricted application.” They were rules within Social Security law that made it possible for Social Security beneficiaries—particularly married couples – to get more in benefits.

However, even without these two strategies, there are still plenty of ways to claim benefits in a way that maximizes your cumulative lifetime benefit and protects your family against longevity risk. And there is definitely no need to panic about your benefits. 

Presenter bios:

Mark T. Sumsion, CEO

Mr. Sumsion is the president and CEO of Strategis Financial Group. He is an expert in annuities and general investing. He served as one of 20 members of the Fidelity Executive Advisor Council in the U.S. Mr. Sumsion, formerly a financial consultant investment manager at Shearson Lehman Hutton during the 1980s, is a registered principal and is licensed in securities (series 7, 65, 63 and 24), options, annuities, and insurance. Mr. Sumsion has worked for Xerox and was national sales manager for a small equipment manufacturer. He holds a business management degree from Brigham Young University.

Scott H. Garbutt, CFP ®

Mr. Garbutt has worked in the financial industry since 1978. Mr. Garbutt received his designation as a Certified Financial Planner, CFP® in 1983.His professional licenses include Series 7 (Full Registration General Securities Representative), Series 24 (General Securities Principal), Series 63 (Uniform Securities State Law), Series 65 (Uniform Securities Law), and a Utah Insurance license. Mr. Garbutt has been a co-owner and executive vice president of Strategis Financial Group, Inc. since January 1991. He spent more than 10 years as a financial consultant with Foster & Marshall, Inc. and Shearson Lehman Hutton before joining Strategis. Mr. Garbutt has a bachelor’s degree in business from BYU’s Marriott School of Management.

Flint J Stephens, MA

Mr. Stephens is director of marketing for Strategis. In addition to 20+ years of work at Strategis, his background includes years of writing and editing a variety of investment publications. He has written many articles about Social Security for KSL.com and other publications. Prior to joining Strategis, Mr. Stephens was vice president of a company that taught free market business principles to Communist officials and aspiring entrepreneurs in the former Soviet Union. He also spent more than 10 years as a journalist working as an editor at daily papers in Illinois and Utah. He has a master's degree in communications from Brigham Young University. He holds a series 65 securities license and a Utah insurance license.

 

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