By when must you have been born to be eligible for a Restricted Application?

To be eligible for a Restricted Application, individuals must have been born on or before January 1, 1954. This option is correct because the Restricted Application allows those who reached age 62 prior to the implementation of the Social Security formula changes in 2015 to apply for spousal benefits while allowing their own retirement benefit to grow until they reach age 70, thereby maximizing their benefits.

Those born after January 1, 1954, are not eligible for this type of application. Instead, they must claim their retirement benefits, which are subject to different rules that were established as part of the Social Security amendments. Hence, individuals turning 62 after this date do not have access to the same strategy of delaying personal benefits while receiving spousal benefits.