Ask Larry

Should SSA Be Informed Every Month How Much You're Earning?

Just retired three months ago. Should I decide to work part-time when I start collecting ssa benefits ( still waiting for processing ) when should I inform SSA that I am doing so. Should SSA be informed every month you’re earning a wage while retired. Thanks for your expert input !

Hi. The amount of your monthly earnings could only matter in the first calendar year that you're entitled to benefits. And, even then your monthly earnings amounts wouldn't matter as long as your calendar year earnings are below the annual earnings test exempt amount. Furthermore, once you reach full retirement age (FRA) there's no limit on how much you can earn and still be paid your benefits, so you wouldn't need to notify Social Security of either your annual or monthly earnings if you're at least FRA.

So, whether or not you need to notify Social Security of your expected earnings depends on your age. And, assuming that you claimed benefits prior to FRA, you'd only need to report your monthly earnings to Social Security if a) your calendar year earnings will exceed the annual earnings test exempt amount, and b) if it's your first calendar year of benefit entitlement.

Since you don't mention your age, expected earnings or your initial month of benefit entitlement, I can't give you any specific advice. You can learn more by reading the following to Social Security websites: https://www.ssa.gov/benefits/retirement/planner/whileworking.html & https://www.ssa.gov/benefits/retirement/planner/rule.html.

Best, Jerry

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Posted: 
Jan 16 2022 - 5:29pm
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