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Venture-capital fund started to help startups on a SUNY campus
SYRACUSE — SUNY has introduced Upstate Biotech Ventures (UBV), a “first-of-its-kind” venture-capital fund for startups and small businesses on a SUNY campus. Dr. Mantosh Dewan, president of SUNY Upstate Medical University, announced the fund during a July 15 ceremony at Upstate Medical’s CNY Biotech Accelerator at 841 E. Fayette St. in Syracuse. “This is certainly […]
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SYRACUSE — SUNY has introduced Upstate Biotech Ventures (UBV), a “first-of-its-kind” venture-capital fund for startups and small businesses on a SUNY campus.
Dr. Mantosh Dewan, president of SUNY Upstate Medical University, announced the fund during a July 15 ceremony at Upstate Medical’s CNY Biotech Accelerator at 841 E. Fayette St. in Syracuse.
“This is certainly a major milestone for us, and there are so many people to thank who’ve been supportive of Upstate in general but to the fund in particular,” Dewan said to open his remarks.
SUNY established the $6 million fund with a $3 million capital investment from Empire State Development’s Community and Regional Partner Fund, part of the State Small Business Credit Initiative through the U.S. Treasury. Upstate Medical University also provided a $3 million allocation through the SUNY Research Foundation.
“With Upstate Biotech Ventures, we’re clearly hanging out a big Made in New York sign right here in the heart of New York. We want our entrepreneurial spirit to accelerate in New York, in Syracuse, and certainly on our campus,” Dewan said. “We want UBV to take every brilliant idea off the pages of a journal and into the real world and save lives. As the only academic medical center in the region, Upstate Medical University’s mission has been to improve the health of the communities we serve through biomedical research, patient care, and education. And now, we can more energetically infuse and fully support the innovation part of our endeavors.”
Excell Partners, an early-stage venture capital fund, will manage Upstate Biotech Ventures and will invest in “high-potential” startups and small businesses affiliated with Upstate Medical University to “drive research and technology innovation,” per the SUNY announcement.
“We have partnered with Central New York Biotech Accelerator since its inception and have been privileged to be a partner with Empire State Development since our inception over 16 years ago,” Theresa Mazzullo, CEO of Excell Partners of Rochester, said in her remarks. “This new Upstate Bioventure Fund brings all of us full circle. Together, we will be actively looking for promising technologies in both life sciences and health tech in all its forms.
She went on to say that investments will range in size from $100,000 to $1 million. Eligibility will require collaboration membership with CNY Biotech Accelerator or Upstate Medical University. Additionally, Excell will be seeking new investors as limited partners in this fund who wish to participate in its success, Mazzullo added.
The initial funding of $6 million is expected to help support nearly 20 companies with investments ranging from $100,000 to $1 million. The fund will give preference to businesses led by founders from traditionally underrepresented groups.
Those attending the ceremony included SUNY Chancellor John King, Jr.
“SUNY plays a crucial role in New York State’s economic development, by educating generations of leaders and professionals, and by supporting business across our state through investment and infrastructure,” King said in the SUNY announcement. “Venture capital provides us with another tool to drive research and innovation, and I am grateful for the partnership with Empire State Development in establishing Upstate Biotech Ventures. As SUNY works to double research across our system of colleges and universities, I hope other campuses have the opportunity to consider the path mapped out by Upstate Medical University.”
Those attending and speaking also included Hope Knight, CEO and commissioner of Empire State Development; and Melur (Ram) Ramasubramanian, SUNY executive vice chancellor for academic affairs and provost and president of the SUNY Research Foundation.

Aging Advocates CNY to buy Senior Home Care Solutions
Deal becomes official in early 2025 MANLIUS — Aging Advocates CNY will be the new owner of Senior Home Care Solutions of DeWitt following an acquisition deal that takes effect at the start of 2025. Aging Advocates CNY of Manlius is a privately owned, care-management practice that provides guidance and solutions to address aging-related
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MANLIUS — Aging Advocates CNY will be the new owner of Senior Home Care Solutions of DeWitt following an acquisition deal that takes effect at the start of 2025.
Aging Advocates CNY of Manlius is a privately owned, care-management practice that provides guidance and solutions to address aging-related needs, as described in the organizations’ July 25 announcement.
Founded by Sheila Ohstrom in 2010, Senior Home Care Solutions has provided support to seniors needing long-term and temporary assistance for non-medical in-home care.
Aging Advocates CNY didn’t disclose financial details of its purchase agreement with Senior Home Care Solutions.
“This acquisition aligns with our mission to promote dignity and independence for our clients while providing peace of mind for their families,” Melissa Murphy, founder and CEO of Aging Advocates CNY, said in the announcement. “We have a great working relationship with Senior Home Care Solutions and deeply respect their service to the community. As our population ages, it’s crucial to maintain quality in-home care providers in Central New York.”
Ohstrom and Murphy also co-founded the nonprofit Living with Dementia CNY, which provides support, education, and resources to personal and professional caregivers of those affected by all types of dementia in Central New York. Ohstrom will remain involved with Senior Home Care Solutions in a consultant role after the acquisition in 2025 while focusing on her role as president of Living With Dementia CNY.
“This is an exciting time for both organizations and the Central New York area,” Ohstrom said. “By combining our strengths, we can better serve our clients and help more seniors remain in the safety and security of their own homes for as long as possible.”
Through this acquisition, Aging Advocates will absorb 60 employees from Senior Home Care Solutions, including part-time and full-time caregivers, and an office management team. This brings Aging Advocates’ total staff to 70 employees.
Aging Advocates and Senior Home Care Solutions will continue to operate independently but will operate from the same office, along with Living With Dementia CNY.
“We want to extend our heartfelt thanks to Sheila for her dedication to our Central New York clients and for trusting Aging Advocates to carry on the incredible legacy she has built,” Murphy added.

Chat-a-Wyle Restaurant in Apalachin is in the spotlight
APALACHIN, N.Y. — Chat-a-Wyle Restaurant, which dubs itself as the “Home of soup in a bread bowl,” was recently recognized by the Tioga County Chamber
New York SBDC honoring regional small businesses, presentations continue
ALBANY — Businesses in Lowville and Utica have been recognized as winners of awards from the New York Small Business Development Center (NY SBDC). Businesses in Binghamton and Oneonta were also scheduled to be honored on Aug. 14 and Aug. 15 respectively. They’re among 10 award recipients that NY SBDC started recognizing as part of
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ALBANY — Businesses in Lowville and Utica have been recognized as winners of awards from the New York Small Business Development Center (NY SBDC).
Businesses in Binghamton and Oneonta were also scheduled to be honored on Aug. 14 and Aug. 15 respectively.
They’re among 10 award recipients that NY SBDC started recognizing as part of its client awards roadshow that began July 29, per its July 8 announcement.
The NY SBDC’s 2024 Client Awards Roadshow is described as a “[statewide] celebration and acknowledgment of outstanding small businesses throughout New York.”
Each recipient is a client of a regional SBDC, including Onondaga, Mohawk Valley, Binghamton, and Canton.
The 10 award recipients also include those that operate in Jamestown, New York City (two), Staten Island, and Stony Brook on Long Island.
This year’s 10 award winners were selected in several categories and selected from more than 23,000 small-business clients across New York State, NY SBDC said.
“We are excited to continue this tradition of honoring the remarkable achievements of our small business clients,” Sonya Smith, state director of the New York SBDC, said in the announcement. “The Annual Client Awards Roadshow allows us to spotlight the diverse and innovative entrepreneurs contributing significantly to New York’s economic landscape. It’s a testament to the resilience and creativity of our small business community, as well as the dedicated support provided by our SBDC advisors.”
Below is a listing of the award recipient and category under the date of the award presentation.
July 29
NY SBDC recognized Hand in Hand, an early childhood center, in Lowville as the Rural Business of the Year. Jennifer Bleakley is the executive director and, it is an Onondaga SBDC client.
July 30
Shepherd Group LLC d/b/a BGM Supply is a company specializing is heating, ventilation, and air conditioning (HVAC) and plumbing supplies. NY SBDC selected it for the Procurement Business of the Year. Mary Shepherd is the owner, and it is a Mohawk Valley SBDC client.
Aug. 14
Stop, Pop & Roll Boba is described as a “Pop up vendor rolling through the FLX area bringing custom popping fruit Boba Tea deliciousness!” per its Facebook page. NY SBDC was scheduled to recognize operator Greyson Wells as the Young Entrepreneur of the Year. Wells is a client of the Binghamton SBDC.
Aug. 15
NY SBDC was scheduled to recognize Yaks Youth Center, LLC in Oneonta as the Community Impact Business of the Year. Heather Boxill-Yakalis is the owner and a client of the Binghamton SBDC.
Sept. 5
AM Equipment NY of Hogansburg is the Growth Business of the Year. Andris White is the owner and a client of the Canton SBDC in St. Lawrence County.

NY SBDC financial impact to counties surpassed $300M in 2023
ALBANY — New York Small Business Development Center (New York SBDC) generated a financial impact surpassing $300 million for counties across the state during its 40th anniversary year in 2023. New York SBDC provided direct support to more than 23,000 small-business clients, SUNY Chancellor John King, Jr. said in releasing the SBDC’s 2023 annual report
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ALBANY — New York Small Business Development Center (New York SBDC) generated a financial impact surpassing $300 million for counties across the state during its 40th anniversary year in 2023.
New York SBDC provided direct support to more than 23,000 small-business clients, SUNY Chancellor John King, Jr. said in releasing the SBDC’s 2023 annual report on Aug. 7
The center helps entrepreneurs through one-on-one individualized advisement grants, specialized education, and business research that “fuels economic growth.”
The Onondaga SBDC, located at Onondaga Community College in the town of Onondaga, serves counties in both Central and Northern New York.
SUNY administers the New York SBDC, which is primarily funded by the U.S. Small Business Administration (SBA). The program is “committed to fostering a diverse and inclusive business landscape across the state,” SUNY said.
The 2023 annual report indicates more than half of SBDC clients (53 percent) were women-owned small businesses; 41 percent were minority-owned; 15 percent were from rural counties; and clients were provided with more than 84,000 hours of free counseling.
“Economic development and upward mobility are fundamental to who we are at SUNY, and our Small Business Development Centers put these principles into action,” King said in the announcement. “…our SBDCs impact thousands of New Yorkers every year. Together, we will set new standards of how dynamic networks of learning and entrepreneurship can powerfully support and enhance one another, while championing a future where every entrepreneur has the tools to realize their dreams.”
“In 2023, we continued to reset, modernize, and build on the many successes of our almost 40-year-old state network,” Sonya Smith, state director of the New York Small Business Development Centers said in the SUNY announcement. “We are evolving and bringing big systemic change, building consistency across the state, and setting a solid foundation for growth and what we hope is long-lasting, impactful change.”
Throughout their 40 years of service, Small Business Development Centers have assisted more than 580,000 small-business clients, created and saved more than a quarter-million jobs, and injected over $8.5 billion into New York state’s economy, SUNY said.
The New York SBDC works closely with other state economic development agencies, faculty, and students at host institutions, as well as representatives from private industry and business to focus resources on assisting small businesses and entrepreneurs.
The SBDC emphasizes counseling and training services to women, veterans, people with special needs, and minority clients, per its description in the SUNY news release.
Its work also includes connecting potential employers with job placement offices on SUNY campuses. This effort links SUNY students and alumni to jobs in the community.
The New York SBDC’s full-time professional business advisors undergo professional certification to keep their business and technical knowledge up to date.
Their efforts are augmented by the New York SBDC Research Network — described as “one of the most advanced” business-information resources in the country.
Located in Albany, the Research Network provides New York SBDC business advisors with the latest economic, demographic, regulatory, and other data that can have an impact on small-business success.

Homer spa and salon focuses on wellness
HOMER — For Heather Malchak, opening Kallos Body Bar allowed her to combine her experience and knowledge as both a cosmetologist and a nurse together in one place that provides aesthetics (both cosmetic and medical), wellness and full-service hair salon services to Homer and surrounding communities. Active as a cosmetologist since 1999, Malchak says she
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HOMER — For Heather Malchak, opening Kallos Body Bar allowed her to combine her experience and knowledge as both a cosmetologist and a nurse together in one place that provides aesthetics (both cosmetic and medical), wellness and full-service hair salon services to Homer and surrounding communities.
Active as a cosmetologist since 1999, Malchak says she learned first-hand after becoming a single mother how important self-care is for overall wellness.
The more she learned about wellness, the more interested she became. Recently, Malchak graduated from the College of Nursing at SUNY Upstate Medical University in Syracuse, with her master’s degree as a nurse practitioner.
Kallos Body Bar is Malchak’s first venture running her own business. The spa and salon opened March 18 and recently celebrated its grand opening and ribbon cutting on June 11.
“We focus really on wellness for the mind and body,” she says. Even the name reflects that. Kallos is an ancient Greek word that means beauty but is associated with a combination of physical appearance and overall wellness.
Kallos offers an array of treatments from massages, facials, Botox, fillers, haircuts, and color, but it’s more than just that, Malchak says. Medical aesthetic services include lymphedema drainage, post-surgical lymphatic massage, and treatment options for chronic migraines, hyperhidrosis, neurological spasticity, and other muscle-related medical conditions.
“I do the medical aspect of it,” she says. “I have the advanced training.”
Clients typically had to travel for these types of services to Syracuse, Ithaca, or Binghamton, she notes, so having them available close to home has been well received.
On the salon side, Kallos has four hair stylists, including Malchak. “We’re all small-town girls,” she says, who have built good relationships with their clients over the years.
Located at 70 N. West St., the stylists are located on the second floor, where Malchak also hopes to add mental-health services through her daughter Jordan Young, a psychiatric nurse practitioner.
“I already have a waiting list for Jordan,” she says, indicating how in-demand mental-health services are in the community.
Malchak is in the process of remodeling the first floor of her building with hopes of adding other wellness practitioners. Her hope is to add between four and five offices on the first floor and is already in talks with potential tenants for those spaces.
The goal is to add more services like pelvic-floor therapy, chiropractic, and even an additional mental-health practitioner, she says.

Creating a Strong Brand Identity: A Necessity for Small Businesses
In today’s competitive marketplace, creating a strong brand identity is crucial for small businesses looking to stand out from the crowd and is essential for growth and success. One of the most effective ways to achieve this is through the creation of collateral materials, including letterhead, presentation templates, and business cards. Brand identity is the
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In today’s competitive marketplace, creating a strong brand identity is crucial for small businesses looking to stand out from the crowd and is essential for growth and success. One of the most effective ways to achieve this is through the creation of collateral materials, including letterhead, presentation templates, and business cards.
Brand identity is the face of a company. It encompasses everything from the logo, color scheme, and typography to the overall tone and messaging. It not only helps customers differentiate one business from another, but also communicates the values and personality of the firm. For small businesses, a compelling brand identity is crucial in standing out in a crowded marketplace.
Collateral materials play a vital role in solidifying a brand identity. They are tangible representations of a company and serve as a visual reminder to customers and potential clients. By incorporating the logo, color palette, and consistent design elements across these materials, small businesses can build brand recognition and credibility.
One of the most commonly used collateral materials is letterhead. This is often the first piece of official correspondence that a business sends to clients or partners. By having a well-designed letterhead that reflects the brand’s visual identity, small businesses can create a professional and cohesive image. This not only leaves a positive impression on recipients, but also reinforces brand recall.
Presentation templates also play a significant role in brand identity. Whether it is a pitch to investors or a sales presentation, it is crucial to have a consistent look and feel across all materials. By incorporating brand elements into presentation templates, such as the choice of fonts, colors, and imagery, small businesses can convey a cohesive and professional brand image. This consistency enhances the overall perception of the company and makes for easy viewing of a presentation on screen.
Business cards, often exchanged during networking events or meetings, act as miniature billboards for a brand. When designed with care, they can leave a lasting impact on potential clients. By utilizing the same visual elements used in other collateral materials, small businesses can create a strong association between the business card and the brand. This ensures that whenever the card is seen, the brand identity is instantly recognized.
Having well-designed collateral materials demonstrates professionalism and attention to detail. It shows that the business is invested in its image and strives for excellence in all aspects of its operations. This can greatly enhance the trust and confidence that potential customers place in the company.
It is important to remember that creating a strong brand identity is an ongoing process. As a small business evolves and adapts to changes, so should its collateral materials. Regular updates to reflect any changes in branding, messaging, or visual elements are essential to maintaining a consistent and compelling brand identity.
Creating these collateral materials may seem like a daunting task for small businesses with limited resources and expertise. There are numerous online tools and platforms available that offer pre-designed templates or customizable options. Small businesses can utilize these resources to create professional and visually appealing collateral materials without breaking the bank. However, outsourcing this work may provide you with the best return on your investment when sharing professional materials to build your brand.
The importance of creating a strong brand identity for small businesses cannot be understated. Collateral materials such as letterhead, presentation templates, and business cards are powerful tools in building brand recognition and credibility. By incorporating consistent visual elements, these materials establish a professional and cohesive brand image — ultimately leading to increased visibility, trust, and success in the marketplace.
Alexa Aiello is the brand & marketing consultant at Empower Business Strategies. Contact her at alexa@gowithempower.com.
OPINION: Lagging Infrastructure and Inflation are a Massive Threat To New York
New York state is facing a perfect storm of circumstances severely inhibiting its efforts to modernize its lagging infrastructure. Due to a combination of high inflation and an already long list of resiliency projects needed to restore New York to its place as an economic leader — according to the comptroller’s office, an astonishing 10
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New York state is facing a perfect storm of circumstances severely inhibiting its efforts to modernize its lagging infrastructure. Due to a combination of high inflation and an already long list of resiliency projects needed to restore New York to its place as an economic leader — according to the comptroller’s office, an astonishing 10 percent of all local bridges in the state are rated “poor” as of last year, and the Reason Foundation’s 27th Annual Highway Report ranks our system at 49th in the nation— strengthening our infrastructure is going to be an uphill battle unless we take some drastic measures to right the ship.
The Assembly Minority Conference has been advocating for investment in infrastructure for years. In 2019, we published our Task Force on Critical Infrastructure and Transportation report that focused on fortifying our roads, bridges, and water systems. We continue to push for a greater investment to address shortcomings in these areas. Poor infrastructure is costly to New York drivers who are forced to make expensive repairs to their vehicles due to poor road conditions. In contrast, Gov. Kathy Hochul inexplicably proposed cutting
$60 million from the Consolidated Local Street and Highway Improvement Program (CHIPS) during the most recent budget negotiations.
For our part, we called for an increase in CHIPS base aid and for future funding to be tied to the rate of inflation to account for increasing material costs. We also suggested establishing a companion program to CHIPS to offer financial assistance to local governments for drinking, storm and sewer water infrastructure.
One major part of New York’s problem is its sprawling budget that eats up enormous amounts of resources without delivering tangible improvements to our quality of life. For example, New York State has already spent several billion dollars supporting undocumented migrants, and another $2.4 billion is earmarked to do so in the most recently passed spending plan. Unfortunately, there are no long-term plans to sustainably accommodate these migrants, and additional spending will likely be needed to mitigate the crisis. This puts an enormous strain on our finances at a time when we are facing severe infrastructure deficiencies along with myriad other cost-of-living challenges.
The good news is that it is not too late to correct our course and make the necessary adjustments to navigate these economic conditions. For one, we must not fall into the trap of cutting spending in the wrong places. We need to properly balance and distribute our resources. Improving New York’s roads and bridges will be expensive, but it is necessary. Hardening our infrastructure is a precursor to future economic success; without a sturdy and resilient transportation network, our economy simply won’t work. While it might seem obvious, we need to make massive adjustments, New York leadership seems confusingly unwilling to commit to what is necessary.
William (Will) A. Barclay, 55, Republican, is the New York Assembly minority leader and represents the 120th New York Assembly District, which encompasses all of Oswego County, as well as parts of Jefferson and Cayuga counties.
OPINION: Trump shooting was shocking but not surprising
The recent [July 13] attempt to assassinate Donald Trump was shocking. The former president and Republican presidential candidate was struck in the ear [and inches from certain death] when a gunman [Thomas Matthew Crooks] fired shots at a rally in Butler, Pennsylvania. One person in the audience [Corey Comperatore] was killed and two people [David
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The recent [July 13] attempt to assassinate Donald Trump was shocking. The former president and Republican presidential candidate was struck in the ear [and inches from certain death] when a gunman [Thomas Matthew Crooks] fired shots at a rally in Butler, Pennsylvania. One person in the audience [Corey Comperatore] was killed and two people [David “Jake” Dutch and James Copenhaver] were seriously wounded.
But we can’t really say the shooting was surprising. We ought not to fool ourselves: We live in a violent time when people quite often try to achieve their objectives through force. Politics reflects the wider society, and we’ve seen a disturbing rise in shootings in schools, workplaces, and other locations. We need to recognize that these acts will keep happening.
I don’t believe Americans are more violent than other people, but there are elements of our history and culture that align with violence. We celebrate the mythology of America’s settlement and western expansion, when force was used to drive Native Americans from their land. Today, our country is awash in guns, making it easy for disputes to escalate. Gun dealers have exploited political distrust to drive sales, including sales of deadly AR-style rifles like the one used against Trump [and the other victims]. By many estimates, there are more guns than people in the U.S.
Shootings are so common they can leave us feeling numb. As Jay Caspian Kang writes in the New Yorker about the Trump shooting, “A loner with an AR-15 commits an act of violence, and we typically have nothing to say except that this seems to happen all the time in America.”
Of course, political violence is not new. Four of our presidents — Abraham Lincoln, James Garfield, William McKinley, and John F. Kennedy — were assassinated. Kennedy’s death stunned me personally. His 1960 campaign and election were among the factors that inspired me to get involved in politics.
Political violence seemed to peak in 1968, when Martin Luther King, Jr. and Robert F. Kennedy were assassinated within a two-month period. Like the current time, it was an era of passionate divisions in American society.
Franklin Roosevelt, Harry Truman, Gerald Ford and Ronald Reagan survived assassination attempts while in office. Reagan was shot and, fortunately, recovered quickly, but his press secretary, James Brady, suffered life-altering injuries. Two members of Congress, Gabrielle Giffords and Steve Scalise, were seriously injured by would-be assassins in the past few years.
Meanwhile, distrust of government has grown dramatically. Sixty years ago, when I was first elected to Congress, I was impressed by the civility I encountered from Republican and Democratic colleagues and from most constituents. I recall only one truly threatening incident. I was riding in a convertible in a parade in a small town in Indiana when a man came running toward me. I don’t believe he had a gun, but I remember seeing a knife. A sheriff’s deputy was riding in the car behind me; he stepped in and saved me, I’m sure, from an attack.
Today, public officials (and even volunteer election workers) often receive hateful messages on social media, sometimes escalating to death threats. This undermines our democracy and puts a real burden on law enforcement to determine which threats to take seriously.
President Joe Biden, speaking after the Trump rally shooting, said we all should “lower the temperature” of political rhetoric. That’s essential, but it only goes so far.
We have to accept that we’re living in dangerous times. We need to be sure our security forces are well equipped and properly trained. Lapses, like the failure to stop the gunman who fired at Trump, need to be investigated and remedied. When crowds gather, at rallies, parades, and elsewhere, authorities will have to be on the lookout.
One thing we know about violence is that it generates more violence, and that’s especially true of political violence. We need to do all we can to prevent it.
Lee Hamilton, 93, is a senior advisor for the Indiana University (IU) Center on Representative Government, distinguished scholar at the IU Hamilton Lugar School of Global and International Studies, and professor of practice at the IU O’Neill School of Public and Environmental Affairs. Hamilton, a Democrat, was a member of the U.S. House of Representatives for 34 years (1965-1999), representing a district in south-central Indiana.

Ask Rusty: Will My Wife Get a Spousal Benefit from Me?
Dear Rusty: I will be turning 70 this coming November. I will begin taking my Social Security (SS) benefit at that time. My age 70 SS benefit will be about $4,500 per month. My spouse (who is currently 74) began receiving her SS benefits about 10 years ago — before her full retirement age (FRA).
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Dear Rusty: I will be turning 70 this coming November. I will begin taking my Social Security (SS) benefit at that time. My age 70 SS benefit will be about $4,500 per month. My spouse (who is currently 74) began receiving her SS benefits about 10 years ago — before her full retirement age (FRA). She receives about $1,900 per month.
My question is, based on my expected SS monthly benefit of about $4,500, would my spouse be eligible for an increase in her monthly SS benefit? I’ve read some articles about this topic, but none of them seem to be on point — so I thought I’d reach out to you.
Signed: Seeking Answers
Dear Seeking Answers: Congratulations on choosing a claiming strategy that will maximize your Social Security. Waiting until age 70 to claim guarantees you will get the most you can personally receive for the rest of your life, along with annual cost of living adjustments (COLA). But the spouse benefits available to your wife when you claim are not based on your age 70 amount. Rather, spouse benefits are calculated using full retirement age (FRA) amounts. Here’s what that means:
If your age 70 benefit will be about $4,500 then your FRA amount was likely around $3,450. If your wife claimed at, say, 64, then her FRA entitlement would probably have been about $2,200. Your wife will only get a spousal boost if 50 percent of your FRA amount (not your age 70 amount) is more than her own FRA entitlement. From what you’ve shared, 50 percent of your FRA amount would be about $1,750, which is less than your wife’s FRA entitlement (and her current age 64 amount), which means that she would not be eligible for a spousal boost to her own amount from you.
Spouse benefits can be tricky, because they’re based on FRA entitlements, regardless of the age at which benefits are actually claimed. That is not so, however, for surviving spouse benefits. If you were to predecease your wife, her benefit would be your entire $4,500 amount, instead of her own smaller current amount. Surviving spouse benefits are based on the amount each of you are currently receiving, not on your amounts at your full retirement age.
I hope this answers your question, but we’re always here if you need any further assistance.
Russell Gloor is a national Social Security advisor at the AMAC Foundation, the nonprofit arm of the Association of Mature American Citizens (AMAC). The 2.4-million-member AMAC says it is a senior advocacy organization. Send your questions to: ssadvisor@amacfoundation.org.
Author’s note: This article is intended for information purposes only and does not represent legal or financial guidance. It presents the opinions and interpretations of the AMAC Foundation’s staff, trained, and accredited by the National Social Security Association (NSSA). The NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity.
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