Does the reduction in SS payments due to earned income effect the spousal benefit?
Assume I am collecting pre-FRA and my spouse gets 35% based on my benefits. It looks like if I earn ~$50K annually my SS monthly benefits are reduced 100% but then my monthly benefit is recalculated at FRA to regain credit for those lost months.
Is this a win/win, where the spousal benefits continue (assuming no spousal income) but my benefit %s continue to grow as if I deferred until FRA?
I guess the key phrase is that your benefits are recalculated at FRA for every month in which you did not receive SOME benefit. Thanks.
Assume I am collecting pre-FRA and my spouse gets 35% based on my benefits. It looks like if I earn ~$50K annually my SS monthly benefits are reduced 100% but then my monthly benefit is recalculated at FRA to regain credit for those lost months.
Is this a win/win, where the spousal benefits continue (assuming no spousal income) but my benefit %s continue to grow as if I deferred until FRA?
I guess the key phrase is that your benefits are recalculated at FRA for every month in which you did not receive SOME benefit. Thanks.