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You are penalized by social security if you work and earn more than 15,720 in 2016. You are penalized until you reach full retirement age (FRA).
$1 for every $3 you earn over the social security allowed wage level, $15,720 for 2016. This penalty is not charged against the children's benefit. And, the penalty is returned to you once your reach FRA in the form of higher monthly benefits.
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