I reached 62 in Nov 2017. I claimed Social Security that month and was told I would be a getting $1,153 payment starting Dec 2017 and actually receiving the money around 10 January 2018, then receive each payment on the second Wednesday each month thereafter. I just received a letter from SS Admin stating they cannot pay benefits beginning January 2018. Their basing this on earnings for 2017 which were $21,090 (I worked part time) and they are using this estimate to decide my benefits for 2018.
Can I collect social security and work part time and contribute those earnings to a 403B plan. Will The earnings that I am contributing to the 403B affect the social security benifit or taxation?
I am 60 years old, still working and applied for my ex's survivor benefits in July (when I turned 60.) I qualified for the benefit. Social Security withheld 3 months because of my salary and my first payment was paid in November. My second payment was received on Dec 20th. Yesterday, I checked online regarding January's payment and it said my payments are "suspended" because I worked. Of course I worked...they calculated my 2017 benefits with my income in consideration.
I am still working and applied to take my social security benefit in April 1917. I turned 66 in March 2017.
I earn $100k in my job. thought that I would avoid a penalty when I read this statement:
"In the year you reach full retirement age, we deduct $1 in benefits for every $3 you earn above a different limit, but we only count earnings before the month you reach your full retirement age. If you will reach full retirement age in 2018, the limit on your earnings for the months before full retirement age is $45,360.
A friend just showed me something from S. S. .. it states that in 2018 if I am 66 or older, that it won't matter how much money I make, that S. S. will not deduct money from my S. S. Is that true? I started drawing S. S. at 62. I had too much money as earned income doing the 2016 taxes and they deducted $200 for the total year of 2017.
My ex-spouse was born before 1954 and is FRA. I am 63. If he files for the divorced spouse 50% benefit is he subject to an earnings limit as I would be if I were to claim for myself? Many thanks
I am 60 and started receiving widows benefits in May of 2017. I also receive a portion of my husbands pension. I understand the pension was not used in calculating my monthly ss widows benefit, but will it count against me as income over the monthly and yearly amount allowed? Or is that only if I become employed?
I am 64 and 2 months. I am working fulltime but likely to retire in April. Can I collect my social security now as well as work full time? I realize it is a lower amount than if I waited to 66 but circumstances may change that . I If I do not have to retire come April, can I suspend those benefits at that point and continue to work until 70.
Larry, I took my Social Security when I turned 62 and now I am 65 and in Oct. of 2018 I will be 66. My question is I have been offered a full-time position at my job and I was wondering since I am on 65, should I cancel it (Social Security) before January 2018 so I can be off Social Security so I can make wages for 40 hours or more at my job? Please help me cause I am confused and don't want to pay 2 dollars for every 1 dollar over the amount I can make.
If I retire in 2018 at age 66, how much can I earn without incurring a penalty?
There is no limit on earnings starting with the month you turn your full retirement age of 66. And if you earn less than $45,360 in the months prior to the month in which you turn age 66, you could potentially draw benefits starting with January 2018 without losing any benefits to the earnings test.