Social Security Report

Q & A

I’m retired, and the only income I have aside from my Social Security retirement benefit is from an Individual Retirement Account (IRA). Are my IRA withdrawals considered “earnings?” Could they reduce my monthly Social Security benefits?

Answer: No. The Social Security Administration does not count non-work income (such as annuities, investment income, interest, capital gains and other government benefits), and this non-work income will not affect your Social Security benefits. Also, most pensions will not affect your benefits, unless you have a government pension from work on which you did not pay Social Security tax. If you have wages or self-employment income and you are under your full retirement age, this income also may affect your benefit amount. For more information, visit www.socialsecurity.gov​ or call the Social Security Administration toll free at 1-800-772-1213 (TTY 1-800-325-0778).

Source: Ohio State Bar Association, 8/24/2015

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