Q & A
I worked the first half of the year, but plan to retire this month. Will Social Security count the amount I earn for this year when I retire?
Answer: Yes. If you retire mid-year, we count your earnings for the entire year. We have a special “earnings test” rule we apply to annual earnings, usually in the first year of retirement. Under this rule, you get a full payment for any whole month we consider you retired regardless of your yearly earnings. We consider you retired during any month your earnings are $1,260 or less, or if you have not performed substantial services in self-employment. We do not consider income earned, beginning with the month you reach full retirement age. Learn more about the earnings test rule at http://www.socialsecurity.gov/retire2/rule.
Source: The Tampa Tribune
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