The 2023 Social Security Earnings-Test Limits
There is good news beyond the 8.7% cost of living increase for 2023. Maurie Backman reminds workers who collect Social Security before full retirement age to be mindful of the earnings-test limit. Limits are adjusted upwards annually, which is considered a good thing, as it means Social Security recipients can earn more without having their benefits impacted. In 2023 the earnings-test limit rises from $19,560 to $21,240 for those aged 62 to 66. The limit is much higher for those reaching full retirement age (FRA), now 67, within the year. In 2023, those reaching FRA can earn up to $56,520; it was $51,960 in 2022. Full piece here.