Earnings Test
Demystifying Social Security’s “Earnings Test”
Social Security’s “Earnings Test” These days, working throughout one’s sixties and into and even beyond one’s seventies is very common. Recognizing that reality – and considering another which shows that most people today claim Social Security benefits in their early…
Some Social Rule Changes Could Benefit Seniors
There’s no question that the Social Security rulebook is complex. Of course, you need rules to manage a program affecting 75 million people. Still, sometimes it becomes obvious to many that there are specific directives that ought to be examined…
Claiming Benefits Early? Beware the Retirement Earnings Test
Social Security regulations stipulate that upon beginning retirement, spousal, or survivor benefits, beneficiaries are considered “retired” and expected to leave the workforce. Current regulations allow for continued earning from employment for those who claim benefits before their full retirement age…
Key Social Security Changes Set to Hit in January
The 2025 cost-of-living adjustment (COLA) announced last month is generally known at this point, but there are two additional key changes that folks need to keep in mind. For example, the annual limit on taxable earnings increases starting in January,…
Are you Collecting Social Security benefits early and Still Working? You need to Know About the Retirement Earnings Test!
Many retirees who are under Full Retirement Age, getting benefits and still working do not understand how the Retirement Earnings Test works. If you earn over the limit ($22,320.00 in 2024) Social Security will take back $1.00 for every $2.00…
Thoughts on Avoiding Retirement Mistakes
As you begin to examine Social Security and reflect on the options available to you, it’s important to consider which options might cause you discomfort later in your retired life. Some of these options result in lower monthly benefits, some…
Before you claim your benefits at 62
You can receive Social Security retirement benefits as early as age 62; however, you will receive a reduced benefit. Although you will receive more checks than other Social Security recipients who filed later, it does not mean you will receive…
Ask Rusty – Will my WEP Reduction Go Away if I Continue Working?
Dear Rusty: I’m 63 years old and have not yet started my Social Security. I now work for the State of Illinois and will draw a pension from that state’s university system. I don’t pay into Social Security from this…
The Social Security earnings test
You can start your Social Security retirement benefits at 62 but at a reduced rate. According to statistics released by the Social Security Administration, almost 30 percent of Americans eligible for Social Security begin to receive their benefits at 62.…
With the new year comes some changes to Social Security
New Year, a new Social Security program; some parts of it anyway. Every year, changes happen to Social Security automatically, which helps recipients of this program keep up with the cost of living. Kailey Hagen reports on the three changes…