How the Rules Work for You

Retirement doesn’t have the same meaning for everyone. Some people plan to retire and never work again. Some people plan for second careers in occupations that wouldn’t have adequately supported their families, but they do the work for pure enjoyment. Some people, whether by design or desire, choose to work part-time or seasonally to supplement their retirement income.

Retirees (or survivors) who choose to receive Social Security benefits before they reach full retirement age (FRA) and continue to work have an earnings limit. In 2017, the annual earnings limit was $16,920 for those under FRA the entire calendar year. In 2018, it is $17,040. If you earn over the limit, we deduct $1 from your Social Security monthly benefit payment for every $2 you earn above the annual limit.  Continue reading

Facebooktwitterlinkedinmail

Three Common Ways Your Social Security Payment Can Grow After Retirement

woman planting flowers You made the choice and now you are happily retired. You filed online for your Social Security benefits. They arrive each month in the correct amount exactly as expected. But, did you ever wonder if your Social Security check could increase?

Once you begin receiving benefits, there are three common ways benefit checks can increase: a cost of living adjustment (COLA); additional work; or an adjustment at full retirement age if you received reduced benefits and exceeded the earnings limit. Continue reading

Facebooktwitterlinkedinmail

How Special Payments After You Retire Affect Your Social Security Benefit

woman on dock getting into kayak After you retire from your job or self-employment, you may get payments for work you did before you started receiving Social Security benefits. We call those “special payments.” Usually, special payments will not affect your Social Security benefit, if they are for work done before you retired. These payments will be counted in the last month you worked, unless the services can be shown to have been rendered in a prior period. Continue reading

Facebooktwitterlinkedinmail

Social Security Collaborates with America Saves Week

man and woman writing on couch A secure retirement is created from a lifetime of planning and saving. Each year, American Savings Education Council and America Saves coordinate America Saves Week. The week is an opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status.

For years, Social Security has collaborated with America Saves Week to promote our shared mission of helping millions of people prepare for their future. This year, the week is celebrated from February 26 through March 3. Continue reading

Facebooktwitterlinkedinmail

4 Questions to Ask Yourself as You Plan for Retirement

woman sitting at desk looking at computer Deciding when to start receiving your retirement benefits from Social Security is a decision that only you can make, and you should make that decision with as much information as possible. There are a lot of important questions to answer.

Should you claim benefits earlier and get a smaller monthly payment for more years? Or should you wait and get a bigger monthly amount over a shorter period?

There are no right or wrong answers, but we encourage you to consider these four important questions as you plan for your financially secure retirement: Continue reading

Facebooktwitterlinkedinmail

5 Ways Social Security Protects You and Your Family

family of 3 by a Christmas tree, drinking hot chocolate Next payday, when you see a portion of your wages go toward FICA taxes, rest easier knowing that your investment in Social Security brings a lifetime of protections for you and your family.

From your first job and throughout your career, we track your earnings and give you credits for the contributions you’ve made through payroll taxes. Those credits can translate into important future benefits. As you prepare for a financially secure future, you should know about these five benefits that you, your spouse, and your children may become eligible for through Social Security: Continue reading

Facebooktwitterlinkedinmail

Social Security’s Top Five Blog Posts

man on his laptop This blog is a go-to source for Social Security news and resources. That’s why we named it Social Security Matters — it matters to everyone, even if you don’t think you directly benefit from Social Security benefits today.

The popularity of our blog has grown. We’d like to share some of our most popular posts with you so you can share what you’ve learned with your friends and loved ones. Here are five of our top posts. Continue reading

Facebooktwitterlinkedinmail