Excess Earnings - Defined

1802. Excess Earnings - Defined

1802.1 What are "excess earnings"?

"Excess earnings" are your earnings that exceed the annual exempt amount. (See §1803).

1802.2 How do excess earnings affect your benefit amount?

If you are younger than full retirement age (FRA) (see §723.5), your excess earnings are subject to a $1 deduction from benefits for each $2 you earn. In the year you reach FRA, you are subject to a different annual exempt amount, and your excess earnings are subject to a $1 deduction from benefits for each $3 you earn.

Last Revised: Sep. 27, 2005

Comments

66 in July and retiring

February 25, 2009 by Guest

I'm going to be 66 in July and am planning on retiring then. How much money can I make from Jan.-July 2009 and not be penalized when I start getting my SS? Am I eligible for my full SS amount this year?

Earnings limits for retirement benefits

February 25, 2009 by David Luhman

If you were born January 2, 1943, through January 1, 1955, then your full retirement age for retirement insurance benefits is 66. If you work and are full retirement age or older, you may keep all of your benefits, no matter how much you earn. If you are younger than full retirement age, there is a limit to how much you can earn and still receive full Social Security benefits. If you are younger than full retirement age during all of 2009, Social Security will deduct $1 from your benefits for each $2 you earned above $14,160.

If you reach full retirement age during 2009, Social Security will deduct $1 from your benefits for each $3 you earn above $37,680 until the month you reach full retirement age.

See here for examples :
http://www.ssa.gov/pubs/10069.html#howmuch

is a pension from the state of maryland considered income?

November 4, 2010 by Guest

I live overseas and receive a pension from the State of Maryland as well as Social Security. Is the Maryland pension considered income by Social Security?

Pension income and the Excess Earnings test

November 4, 2010 by David Luhman

Pension income in general would be viewed as "income" from an income tax perspective.

However, I do not believe pension income is viewed as income from Social Security's Excess Earnings perspective.

See §1801 which pertains to EARNED income from work. Not "portfolio" or even "passive" income from investments and the like.

Back to work

August 2, 2011 by katemnmy3

I am 30 and recieving disability. I would like to try to work, most likely less than 10 or so hours a week. How much can I make and still recieve my benefits until I know if I can handle the work?

rental income

July 15, 2013 by Guest

I own property with my brother. Is the rental income considered in the amount of money I can earn, or is it just income I still earn from a part time job.