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Bookmark or Share- What Is Social Security's 'Special Earnings Limit Rule'? - AARPThe special earnings limit rule is an exception to Social Security’s earnings limit — the cap on the amount you can make from work in a year without Social Security reducing your benefits. The cap only applies if you are under full retirement age , which is 66 and 6 months for people born in 1957, two months later for those born in 1958 and ...
- Spouse's Income and the Social Security Earnings Limit - AARPIn other words, if your income exceeds the cap on yearly earnings — which in 2024 is $22,320 for people who claim benefits before full retirement age — Social Security will withhold money from your retirement payments. (Full retirement age is 66 and 6 months for people born in 1957, 66 and 8 months for those born in 1958, and is gradually ...
- The Maximum Social Security Benefit Explained - AARPWho is eligible for the maximum benefit? People whose earnings equaled or exceeded Social Security’s maximum taxable income — the amount of your earnings on which you pay Social Security taxes — for at least 35 years of their working lives.
- When Does The Earnings Limit End for Social Security? - AARPIn 2024, if you collect benefits before full retirement age and continue to work, the Social Security Administration will temporarily withhold $1 in benefits for every $2 you earn over $22,320.
- Can I work and collect Social Security? - AARPIf you are receiving benefits and working in 2024 but not due to hit FRA until a later year, the earnings limit is $22,320. You lose $1 in benefits for every $2 earned over the cap. So, if you have a part-time job that pays $30,000 a year — $7,680 over the limit — Social Security will deduct $3,840 in benefits.
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