Q & A

When having to pay back $1 for every $2 due to earnings prior to full retirement age, is a pension included in what they consider earnings?

Answer: If you’re under full retirement age for the entire year, the Social Security Administration will deduct $1 from your benefit payments for every $2 you earn above the annual limit, says William “BJ” Jarrett, a public affairs specialist with the Social Security Administration (SSA) in Baltimore, Maryland. For 2015, that limit is $15,720. Read more…

Source: Robert Powell, Retirement Weekly via www.usatoday.com

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