Ask Larry

What Happens If I Go Back To Work?

I have applied for benefits 10/2017, MY FRA is 7/2019 when I will be 66. I understand I can make a certain amount working . however , I have been contacted by a company and if selected I would earn much more.... Let's salary would be 65K TO 75K. how does this affect my Benefits?????

Hi,

You can be paid benefits for the rest of this year if either:
A) Your 2017 earnings don't exceed $16,920; or,
B) You don't earn more than $1410 in any of the months October, November or December.

If you return to work next year and earn between $65K & $75K, you will likely be due little if any benefits for 2018 since $1 of your benefits would have to be withheld for every $2 that your earnings exceed whatever is established as the earnings test exempt amount for 2018. Your benefits would likely then resume starting January 2019, since your exempt amount will be higher that year and only your earnings in the first 6 months of the year would be counted.

You may want to strongly consider using the maximization software on this website to explore all of your filing options and determine if there is a better strategy available to you than the one you've chosen.

Best, Jerry

Category: 
Posted: 
Oct 21 2017 - 8:41am
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