Ask Larry

Will My Work After Retiring Affect My Social Security Rate?

I retired at 67 but a dr needed some help on their business they paid me 1200 for some computer work. Does this affect my social security rate? Will it lower it?p

Hi. Since you've apparently already reached full retirement age (FRA), being paid for work definitely won't reduce your Social Security benefit. Any earned income on which you pay Social Security taxes could potentially increase your Social Security retirement benefit rate, but only if your earnings in a year are higher than one of your previous highest 35 years of Social Security covered wage-indexed earnings.

Best, Jerry

Feb 2 2023 - 12:20pm
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