Question

Previous Question


Unavailable_m
A worker has reached full retirement age and is receiving benefits and continues to earn income ?
In this case will the social security be deducted from those post-retirement-age earnings?

In Social Security - asked by johnedwin - on May 16th, 2008
 0 

1 Answer  




  
Unavailable_m
StanTomkiel
May 16th, 2008

Yes. The SS or FICA tax (they call it a "contribution" but try telling IRS you can't afford to make a contribution right now!) applies to all earned income in covered employment.

But if the earnings in a post-retirement year are higher than one of the year's earnings used to calculate the original benefit, SSA will re-calculate the benefit amount and any increase will be paid for years after the latest higher earnings year.

You can expedite that by bringing your w2 to the SSA office as soon as you get it and ask for a manual recomputation. They will do it automatically anyway, but it could be quite a while.



Page:  1

Resolved Questions in Social Security

Popular Questions in Social Security


Change Text Size  

small text  larger text  largest text