The Benefits Blog

The heart of the question relates to the adjustment at FRA relating to benefits withheld due to the Annual Earnings Test.  Does that adjustment occur with only retirement benefits, or will that adjustment apply also to survivor or spousal benefits as well?

The adjustment for benefits withheld due t...

I have a client, Larry, looking to retire this August at age 65 and will earn 50K in 2023.  If he files for his own benefits Dec 2023 age 65.4 and gets his first check in Jan 2024, will he be subject to the earnings test for the Dec amount being that the first check doesn’t come until 2024?

For Lar...

My birth date is 4/30/58. I will retire at 65 and one month 5/31/23, prior to full retirement age. From 1/1/23 to 5/31/23, I will earn $150,000 earned income. After 5/31/23, I will never have any further earned income. If I elect SSA benefits 6/1/23 will I have any reduction in benefits due to the 5...

We have a client who is 61 and was recently widowed.  She is still working, and not sure about her official retirement. Can you refresh my memory on how they rectify benefits if she begins collecting and then exceeds the earnings limit? I seem to remember it eventually being adjusted for any months ...

One of my FA’s has a client who started taking Social Security benefits at age 62. Her Full Retirement Age is 66 years and 8 months. She was born in 1958 and is currently age 65. She is receiving 1099 income that she is referring to as “deferred comp” from when she was working and being distributed ...