I retired from New York State in September 2020, and began collecting Social Security in February 2021. I received a retroactive check from a contract that was settled after I retired . I believe it was in July 2021. It is common practice for New York civil service employees to receive retro checks after their late contract is settled. Social Security Administration claims I was overpaid because my "work and earnings", exceeded the earnings limit. Since I was not working, I don't think I should have to pay . I will be filling out the waiver and reconsideration forms.
I am currently negotiating a Personal Injury lawsuit settlement with an insurance company that will put me way over my allowed annual earning. Is there any way for me to shelter this award to avoid giving so much to social security?
2021, started collecting retirement benefits. However, I exceeded income and monthly maximum limits. I started at 63 February
What happens now that I e exceeded both limitations? I cannot withdraw my application as it is more than a year
Hi Larry, I am a retiring in less than a year at 66 1/2 and draw my SS benefits, my wife will be 63, we have a disabled son, and we get paid for his cares through Wisconsin Medicaid waiver program, the income does not count as federal or state income -therefore no taxes are paid on this income of $26,000 for each of us, however SS taxes are withheld.
I am on widow benefits I started working on Jan 2022 I would like to know how much I can make before it effects my benefits and do I look at the gross amount or year to date and do I have to quit when I get to that limit or tell my boss I can’t go over this amount
I turn 65 in June 2022 and am thinking of quitting work in August and starting social security at that time. I will have made more than the maximum in the 7 months of 2022, how will my social security be affected? Will I be penalized in my checks from Aug-Dec or will I even be able to collect? Also, 2022 will not have posted yet but even part of the year will be higher than some of my lower wage years, will this be recalculated in 2023?
My husband passed away 4 years ago. I will be 60 years old in August. I still work full time. Would I be able to receive survivor benefits and still work? Is there a certain amount that you can have as income? I have to work full time to get my medical insurance.
i am 63 i get widows support from my husband whos pass on can i still work and recivie my check from ssa
Hi. That depends on how much you are earning. For example, if you earn more than $19,560 in 2022, Social Security would need to withhold $1 of your benefits for each $2 that you earn in excess of that amount. Once you reach full retirement age, though, there will no longer be any limit on the amount that you could work and earn and still be paid all of your benefits.
I will be 66 4 month in April 2023. Will I loose money for working those 4 months before I start collecting?
Hi. Just to be clear, there is no limit on how much you can earn starting with the month you reach full retirement age (FRA). So, if you reach FRA in April 2023 and if you start drawing your benefits effective with that month, then you won't lose any of your benefits no matter how much you earn before or after that month.
I started drawing survivor benefits in 2021 (DOB 11/1955). Husband passed in 2020. SS has cancelled my benefits saying I earned too much this year. They said I can only earn $18,960. I turned full “survivor” retirement age this year and was under the impression I could earn up to $50,520 in the year I turned 66. Has this rule change? (My FRA for SS is 66 & 2 mo.) I have been denied benefits now until August of 2022 due to “ overpayment “. How can I fix this?