Earnings Test

Will My Earnings Affect My Payments?

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I am retiring from teaching school this year in may I am 63. This year I have made 37,000 dollars teaching school that is paid up until August. I have applied for social security . Will I recieve a full payment in september or will it be lower because of the 16900.20

Hi,

You can be paid your full check for any month in which you earn $1,410 or less this year regardless of the amount of your total earnings for the year (https://www.ssa.gov/planners/retire/rule.html).

Will My Earnings Prior to My Month Of Entitlement Count Toward The Earnings Test?

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I will begin receiving a Child in care spousal benefit in October, 2017. I am 59. I am currently working and will have earned around $70,000 this year up to that October starting date. Will those earnings be considered for the Earnings Test this year or will they only consider my income from October through December in determining whether the test will limit or eliminate my benefit?

Hi,

What Income Is Counted For The Earnings Test?

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I am 62 and have (100%) owned an S Corporation since 1994. My wife is 67 and began collecting SS in 2011. Recently, my wife began working with me and, in 2014, we split the ownership 51%/49%. Let's say the corporation has net income of $26,314 and I pay myself a $3,500 salary; my wife a $3,500 salary and take draws (not dividends) from the corporation. This is our only source of income. Questions: (1) I understand the concept of earned income.

Do I Need To Report My Earnings To Social Security If I Won't Exceed The Exempt Amount?

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I started receiving widow's social security benefits, when I was 62 years old, in 2014. This July (2017) I will be 65, so my full retirement age is 66. I am suspending conversion to my own benefits until age 70 because at the time when I began collecting Social Security, my widow's benefit rate was higher than my own. Eventually, by suspending collection the accrued increases from my own benefits will surpass my widow's benefit rate.

Why Are My Full Checks Being Withheld?

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I turned 62 in March of this year and applied for SS benefits. I am working and make $11 an hour @ 40 hours a week. I am told by SS that I will not receive a check until June because I make more than the $1410 a month that is allowed. My monthly benefit is $1293.00 yet they are holding 2 Checks and claim the overage will be paid in Jan 2018. Why can't they reduce my monthly benefit amount to cover the overage? How do they expect people to pay their monthly bills without their money??

Hi,

Will My Earnings Prevent My Wife From Receiving Benefits?

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Larry:

I just turned 62, but will continue working full time until I am 66 and 2 months. My annual W2 is about $200k. My wife is 62 1/2 and does not work. If she file for her benefits now, will my income be included for her earnings test recognizing we file joint married. So, can she keep her monthly check or does it get reduced based on my income?

thx

Ernie

Hi Ernie,

Would My Spousal Benefits Be Subject To Withholding Under The Earnings Test?

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Hi Larry --

I am 66 (don’t work) and my wife turns 62 in three months (she works). I know from past Q&As that if she applies for social security benefits when she turns 62 I can file a restricted application for a spousal benefit based on her work record and defer taking SS benefits on my own work record until I’m 70. If we do this, and my wife continues to work, will what she earns over the annual limit also reduce my spousal benefit even though I’m older than my full retirement age?

Thanks,
Dave

Hi Dave,

Will My Wife's Child In Care Spousal Benefits Be Subject To The Earnings Test?

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I am 62 and will begin taking retirement benefits this year. I have a 14 year old daughter and my wife is 60. Both will be able to begin receiving benefits on my record. The earnings test is not an issue for me (or my daughter) but my wife will continue to work . Will my wife be subject to the earnings test while receiving her child in care benefit (i.e. for 2 years until my daughter turns 16)? If so, and my wife loses some of her benefit, might my daughter's benefit increase if we were being limited by the Family Maximum Benefit?

Will My Bonus Count Toward The Social Security Earnings Test?

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I was "retired" by my company in March, 2016, at age 65. I had planned on starting social security in May, 2017, at my FRA of 66. I have no earned income from employment since March, 2016, although have had distribution from an IRA. In February, 2017, I received a check from my previous employer for a bonus based off my time with the company in 2016. They withheld Federal, State, and Social Security taxes from the check. Since I am no longer employed by this company, will this amount from my previous employer received in 2017 count toward the Earnings Test for 2017?

Can My Husband Work Part Time And Still Get Benefits?

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Hi! My husband is 62 and pretty much disabled but has been turned down for SSI Disability. He is also on Medicaid as he has severe COPD and Thyroid issues. His Medicaid expires 10/17 and may or may not be renewed. He will start collecting regular Social Security of $1054. in May of this year. My question is: he still works 1 day a week. We need to keep the insurance and cannot afford premiums. Can he continue to work 1 day ($120/Day/Gross), get his SS payment and still have Medicaid or does he have to quit his job to maintain a lower income.