I turned 62 in May and took early retirement. I worked until May. I got my first SS check in July. I have now changed my mind about retiring and want to return to work. IThis is September so I will get one more check. I read I have to repay my benefits I have take, can I do this in payments?

Hi. The answer depends on what you decide to do. Your options are to either a) withdraw your application, in which case you'd need to repay all of the benefits you've received in one payment, or b) tell Social Security that you're returning to work so they can suspend your benefits if necessary.

If you withdraw your application, you could then reapply for benefits later and your benefit rate would be calculated based on your age at the time you start drawing payments. However, if you choose option 'b' you'll be stuck with your age 62 rate at least until you reach full retirement age (FRA).

If you opt not to withdraw your application, you may not need to repay the benefits you've collected so far. You can be paid for any month of 2021 in which you earn less than $1580 no matter how much you earn during the rest of the year (https://www.ssa.gov/benefits/retirement/planner/rule.html). But, if you don't withdraw your application and if it turns out that you were paid too much in benefits due to your earnings, you could then choose to repay your overpayment in installment payments.

Best, Jerry