Independent
Thinks s/he gets paid by the post
- Joined
- Oct 28, 2006
- Messages
- 4,629
I figured I understood this. If you start SS benefits before your Normal Retirement Age, and then work and earn "too much", your SS benefit will be reduced by $1 for each $2 of excess earnings.
Right?
I've hung around this forum long enough to know that if I'm considering working that much, I could look into reversing my SS application, repaying my benefits, and reapplying at NRA. I doubt that very many people would think of that.
But here's another angle. If I work and have my benefits reduced, the SS admin will recalculate my benefits at NRA, effectively refunding the entire amount that I lost.
I didn't know that. This guy, AEI - Short Publications - The Social Security Earnings Test says that most people don't know that, partially because the SS admin hasn't made an effort to tell them.
How about the people here. Is this old hat or news?
Right?
I've hung around this forum long enough to know that if I'm considering working that much, I could look into reversing my SS application, repaying my benefits, and reapplying at NRA. I doubt that very many people would think of that.
But here's another angle. If I work and have my benefits reduced, the SS admin will recalculate my benefits at NRA, effectively refunding the entire amount that I lost.
I didn't know that. This guy, AEI - Short Publications - The Social Security Earnings Test says that most people don't know that, partially because the SS admin hasn't made an effort to tell them.
How about the people here. Is this old hat or news?