Social Security PSAs, FIAs, SPIAs, and MYGAs: Q&A #2525

The Retirement and IRA Show

Jim and Chris begin with three PSAs on Social Security experiences, then answer questions on fixed indexed annuities with market value adjustments, SPIA payout options for the Minimum Dignity Floor, and the tax aggregation rule for MYGAs.
(11:30) In this PSA Georgette clarifies that her husband, born February 1, received January benefits at full age 70, with payments starting at the end of January.
(19:45) A listener shares a PSA about their struggle recovering original documents from the SSA after submitting an IRMAA appeal and only getting help after contacting her senator.
(24:15) The guys read a PSA from a listener whose Social Security application was approved, but his first payment was withheld due to how he reported earnings; he later filed an appeal and was paid.
(36:00) George asks why the EDU episode on Fixed Indexed Annuities didn’t mention five-year FIAs with market value adjustments and no surrender fees, noting one issuer allows early access with interest rate risk.
(54:00) Jim and Chris address when they may recommend SPIAs with life-only vs. return of premium options, discussing how payout levels vary based on longevity risk-sharing.
(1:12:15) A listener asks whether a 1035 exchange into a different insurer’s MYGA can avoid the tax aggregation rule; Jim explains how proration works and why the trade-off might not be worth the hassle.

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