Earlier this month, William Reichenstein, PhD, CFA, principal of Social Security Solutions, Inc., spent time with the United States Senate's Special Committee on Aging discussing why one-size-fits all claiming strategies for Social don't work for American couples.

Contrary to popular belief, the end of the "file and suspend" strategy has made claiming Social Security optimally even more complicated for Americans.

"Differences in age, relative sizes of PIA, three groups of rules based on certain ages, and more make Social Security claiming complicated for Americans," said Reichenstein. "The complex nature of Social Security rules means there are no rules of thumb for claiming benefits optimally."

The United States Senate's Special Committee on Aging was first established in 1961 as a temporary committee and was granted permanent status in 1977. The Special Committee is dedicated to discussion and debate on matters relating to older Americans.