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DISCLAIMER - THIS WEBSITE IS NOT ENDORSED BY OR AFFILIATED WITH THE U.S. SOCIAL SECURITY ADMINISTRATION , OR ANY GOVERNMENTAL ENTITY.
 Carol Thomas has recently retired from the Social Security Administration after 28 years service. If you have any questions about Social Security, please ask. We will use the questions you send for future posts. I will never post anyone's name, or other identifiable information.
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| FAQ(s) found under Social Security Basics |
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| What if I want to work part-time in retirement? |
Date Add : 12-10-2008
| Views : 1258
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That's a crucial question. When you earn some income and you haven't yet reached what Social Security considers full retirement age, your payouts will typically be smaller during the period that you're working.
Specifically, if you start receiving your Social Security payouts early, but you're still working and earning more than $13,560 (the annual limit for 2008), your benefit is reduced by $1 for every $2 above that limit. However, Social Security will make an adjustment when you reach full retirement age to reflect the additional income you earned.
In the last year before reaching your full retirement age, the earnings limit rises to $36,120, and your benefits are reduced $1 for every $3 above that limit. As of the month you reach full retirement age, your benefits are not affected by any earnings limits.
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DISCLAIMER -
You should consult with your local Social Security Office before acting upon any information received as a response to your question on "Social Security Advisor".
"Social Security Advisor" is intended to provide accurate and authoritative information with regard to the subject matter covered. It is offered with the understanding that neither the publisher nor the author is engaged in rendering legal, accounting, investment or other professional advice or services.
Information obtained from RetirementCommunity.com, including e-mail responses from "Social Security Advisor" should be considered as general educational information. You must never rely upon the advice given here. Your individual situation may not fit the generalizations discussed. Only your local Social Security office can evaluate your individual situation and give you advice.
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