I am 62 and trying to plan when to take my social security benefit. I have two main questions:
(1) I was a teacher, so I will be WEP'd. I am looking at whether I can not be subject to WEP under the "paid 30 years into Social Security" exemption. I currently have 26 "substantial earnings years" and several other years where I almost made that particular year's "substantial earnings." Question: Do partial years count towards the calculation of 30 years substantial earnings?
(2) I'd like to continue working part time and collect my social security benefits. I understand for 2023, I can earn up to $21,240 annually without my social security benefits being impacted. The problem is that since my part time job is in teaching, I do not work for two months of the year (summer breaks). Essentially, I would like to be able to spilt my $21,240 annually across the ten months I work so my paychecks will be higher. Will Social Security hold back my benefits if I earn more than $1770 ($21,240 divided by twelve) per month even though I will not earn more than $21,240 in one year?

Hi. No. In order for a year to count as a substantial earnings year for WEP (Windfall Elimination Provision) purposes, you must have had Social Security covered earnings equal to or above the amount defined as substantial earnings in that year. Earnings of any amount below the required amount do nothing to help you meet the 30 year exception to WEP. A list of the yearly amounts can be found on page 2 of the following Social Security publication: https://www.ssa.gov/pubs/EN-05-10045.pdf.

The Social Security annual earnings test only considers annual earnings. If you earn less than the annual exempt amount in 2023, it won't matter how much you earn in any individual months. Our software (https://maximizemysocialsecurity.com/purchase) is programmed to handle both WEP and earnings test considerations, so it sounds like you should strongly consider using the software to fully compare and analyze all of your various options so that you can determine your best filing strategy for maximizing your benefits.

Best, Jerry