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Social Security retirement benefits While Working

You can continue to work and earn above the annual earnings limit and still get some of your benefits.

Let's look at a couple of examples: You are receiving Social Security retirement benefits every month in 2007 and you

  • Are under full retirement age all year. You are entitled to $800 a month in benefits ($9,600 for the year).

    You work and earn $20,960 ($8,000 over the $12,960 limit) during the year. Your Social Security benefits would be reduced by $4,000 ($1 for every $2 you earned over the limit), but you would still receive $5,600 of your $9600 in benefits for the year. ($9,600 - $4,000 = $5,600)

  • Reach full retirement age in August 2007. You are entitled to $800 per month in benefits ($9,600 for the year).

    You work and earn $60,000 during the year, with $36,450 ($2,010 over the $34,440 limit) of it in the 7 months from January through July.

    • Your Social Security benefits would be reduced through July by $670 ($1 for every $3 you earned over the limit). You would still receive $4,930 out of your $5,600 benefits for the first 7 months (January through July). ($5,600 - $670 = $4,930)

    • Beginning in August 2007, when you reach full retirement age, you would receive your full benefit ($800 per month), no matter how much you earn.

When we figure out how much to deduct from your benefits, we count only the wages you make from your job or your net profit if you're self-employed. We include bonuses, commissions and vacation pay. We don't count pensions, annuities, investment income, interest, veterans or other government or military retirement benefits.

Also, as long as you continue to work and receive benefits, we will check your record every year to see whether the additional earnings will increase your monthly benefit. If there is an increase, we will send you a letter telling you of your new benefit amount.

In addition, after you reach full retirement age, we will recalculate your benefit amount to give you credit for any months in which you did not receive a benefit because of your earnings. We will send you a letter telling you about any increase in your benefit amount.

If you are eligible for retirement benefits this year and are still working, you can use our earnings test calculator to see how your earnings could affect your benefit payments.

Source: http://www.socialsecurity.gov/retire2/agereduction.htm

Social Security Questions and answers
In the news: Read Carols comments in this BankRate.com Social Security article


Thank you so much. The amount of infomation you provided on our call went a long way in helping to resolve the issues I had with the social security rep I was working with.
Tom F. 10-23-2014


Thank you so much. You provide a fantastic service and I really appreciate all your help. The next time I have a question regarding Social Security I will go to you first and save myself a lot of time.
Carol J. 10-11-2014


Thanks for the straight forward answers. It would have save a lot of time if I knew about this site months ago.
Emily D. 09-30-2014

Great talking with you and thanks for the help. Things now seem to be going in the right direction.
Chris H. 12/17/11

Hello, thank you so much for responding to my inquiry, I really did not expect to get an answer from you so quickly. Brought the information you sent to my social security office an the issue, i have been dealing with for months, was resolved in an hour.
Veda M. 11/05/11

Thank you so much for the reply.
Tom C. 9/17/11

Thank you so much for returning my email so quickly.
Laverne J. 8/15/11

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