Q & A
When do I get credit for my 2013 earnings?
Full Question: I retired effective January 2014, so my current Social Security payment only reflects earnings through 2012. When will my retirement amount include 2013 wages? What do I need to do to make that happen?
Answer: Earnings for 2013 are automatically reviewed for possible increase to your retirement benefits when posted to your work record, approximately by October 2014. You do not need to do anything for this to happen. The automatic review includes employment from wages and self-employment. Employers pay estimated taxes to IRS based on wages paid during the year but specific information of how much individual employees earned during a year are only sent to the Social Security Administration with annual W-2’s. Your employer reports earnings to Social Security at about the same time you receive your W-2 form. The employer report is a copy of the W-2. Read more…
Source: Social Security: Information & Updates, July 10, 2014
Notice: The links provided above connect readers to the full text of the posted question and its response. The URL (internet address) for any links are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc. or socialsecurityreport.org.