I plan to retire December 31, 2019. I want to start collecting SS benefits in January, 2020. I will be 63 years 3 months. My FRA is 66 years 4 months. I started the online application. It asked if I worked any in 2019, which I did. It also asked if I plan to work in 2020, which I do not plan to do. I am concerned that my benefits will be reduced because I worked in 2019. Should I be concerned that my benefits be reduced because I worked in 2019? Thank you.

Hi,

No, if you're claiming benefits effective with January 2020 your 2019 earnings will have no adverse effect on your 2020 benefits. If anything, your 2019 earnings might increase your benefit rate if your 2019 earnings are among your 35 highest years of wage-indexed earnings (https://www.ssa.gov/pubs/EN-05-10070.pdf).

However, if you're claiming benefits effective with December 2019, which are the benefits that Social Security pays in January 2020, then you would either need to earn $1470 or less in December or no more than $17,640 in 2019 in order to be paid your entire benefit payment for December 2019.

Best, Jerry