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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