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Receiving benefits while you work Need more
When you reach your full Here is how this works: after information?
retirement age, you can work you reach full retirement age, You can find answers to frequently
and earn as much as you want we will recalculate your benefit asked questions about Social
and still receive your full Social amount to give you credit for
Security benefit payment. If you any months in which you did Security, learn about factors that
could affect your benefits, and much
are younger than full retirement not receive some benefit because more by visiting Social Security
age and if your earnings exceed of your earnings. In addition, as online at www.socialsecurity.gov.
certain dollar amounts, some of long as you continue to work, we
your benefit payments during the will check your record every year If you do not have access to the
year will be withheld. to see whether the additional Internet, you can get information
This does not mean you must try to earnings will increase your about Social Security by calling
limit your earnings. If we withhold monthly benefit. 1-800-772-1213 (1-800-325-0778
for the deaf or hard of hearing) or by
some of your benefits because you Many people can continue visiting a local Social Security office.
continue to work, we will pay you a to work and still receive
higher monthly benefit amount when retirement benefits. If you Other useful websites
you reach your full retirement age. want more information on
In other words, if you would like to how earnings affect your www.mymoney.gov
work and earn more than the exempt retirement benefits, ask for This website contains calculators
amount, you should know that it How Work Affects Your Benefits for financial planning and
will not, on average, reduce the total (Publication No. 05-10069), which information on money-related
value of lifetime benefits you receive has current annual and monthly matters, such as retirement planning
from Social Security—and may earnings limits, and is available and starting a small business.
actually increase them. on our website.
www.dol.gov/ebsa/pdf/
nearretirement.pdf
Retirement age considerations Have you determined how
Full retirement age so, your benefit will be increased much money you will need in
retirement? There are many
For persons born during the years by a certain percentage for each tools available to help you, such
1943-1954, the full retirement age month you don’t receive benefits as the Taking the Mystery Out of
between your full retirement age
is 66. If you were not born in this and age 70. This table shows the Retirement Planning Workbook
period, you can find your full available at this link.
retirement age on page 2 of your rate your benefits increase if you
delay retiring.
Social Security Statement. www.sec.gov/investor/
seniors.shtml
Retiring early Year of birth Yearly increase rate
If you’ve earned 40 credits Are you looking for information
about the investment options
(credits are explained on page 2 1941 - 1942 7.5% available to you as you enter
of your Statement), you can start 1943 or later 8.0% retirement? The Securities and
receiving Social Security benefits Exchange Commission has a
at 62 or at any month between 62 wealth of information on different
and full retirement age. However, Rules that may affect investment products and topics
your benefits will be reduced your survivor available at this website.
based on the number of months If you are married and die before
you receive benefits before you your spouse, he or she may be www.usa.gov/topics/
reach full retirement age. eligible for a benefit based on your seniors.shtml
If your full retirement age is 66, work record. If you start benefits This website has a variety of
benefits will be reduced: before your full retirement age, resources for seniors on topics
25 percent at age 62; we cannot pay your surviving including retirement planning,
20 percent at age 63; spouse a full benefit from your housing, and health.
13⅓ percent at age 64; or record. Also, if you wait until after
6⅔ percent at age 65. your full retirement age to begin Social Security Administration
Delaying retirement benefits, the surviving spouse SSA Publication No. 05-10054
benefits based on your record will
May 2015 (Destroy prior editions)
You may decide to wait beyond be higher.
your full retirement age before
choosing to receive benefits. If
