I am currently 65 was drawing early benefits and got cancer so I had to go back to work to pay the C bills. They stopped my SS payment because I was making over 19.5k this year. I turn 66-1/2 in AUG of 2023 so I went to SS to get my payments resumed for next year. My question is do my payments resume in JAN, Feb on my birthday or in AUG when I turn 66-1/2 and does the 2023 COLA apply to me? Thank You

Hi. If you'll reach your full retirement age (FRA) in August 2023, then you can be paid benefits at least for August on. But, if you'll earn less than $56,520 in the months January through July of 2023, then your benefits can be paid starting for the month of January 2023. The Social Security earnings test exempt amount for 2023 for people reaching in 2023 is $56,520, and only earnings prior to the month you reach FRA count toward the limit.

Even if you'll earn more than $56,520 in the first seven months of 2023, though, you may be able to be paid benefits earlier than August. If you'll earn more than that, Social Security would need to withhold $1 of your 2023 benefits for each $3 that you earn in excess of $56,520 in the first seven months of 2023. Therefore, the first month that you would be due payments depends on your monthly benefit rate and how much you'll earn in the first seven months of 2023.

What you need to do is call Social Security to tell them how much you expect to earn for the first seven months of 2023. They should then restart your payments at the appropriate time. And, yes, the you will receive the upcoming 8.7% cost of living (COLA) increase, as will everyone who was born on January 1 1961 or earlier.

Best, Jerry