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PDtax
PDtax, CPA firm owner
Category: Social Security
Satisfied Customers: 4093
Experience:  35 years tax and professional advice in all matters money
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Is a special rule where the money you make before you apply

Customer Question

Is a special rule where the money you make before you apply or retire is not held against you. Does not keep you from drawing your first check.
JA: The retirement accountant will know how to help. Please tell me more, so we can help you best.
Customer: I applied at 62 at the first of October I was was told not to work after Nov 1st. I retired Oct 28. My benefits was suppose to start Dec 21. I recieved a letter from ss yesterday saying I would not because of work but the next sentense said I woul. Very concerning I have quit my job .
JA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Is there anything else important you think the retirement accountant should know?
Customer: We calculated I made around 49,000 to 50,000 when I was at ss. It turns out it was around 55,000.
Submitted: 27 days ago.
Category: Social Security
Expert:  PDtax replied 27 days ago.

Welcome to the site. I'mCustomer and will be helping you today.

Expert:  PDtax replied 27 days ago.

There is a special rule for social security benefits in the first year you claim benefits. From SSA.gov:

"Sometimes people younger than full retirement age retire in the middle of the year and have already earned more than the yearly earnings limit. There is a special rule that applies to earnings for one year, usually the first year of retirement. Under this rule, you can get a full Social Security benefit for any whole month you are retired, regardless of your yearly earnings." (emphasis added). (https://faq.ssa.gov/link/portal/34011/34019/Article/3740/What-is-the-special-rule-about-earnings-in-the-first-year-of-retirement).

Since you claimed early, the wage limit of $15,720 for 2016 would normally preclude you from retaining any benefits, since you earned more than that amount. This transition rule allows you to be eligible for your December 21st check.

You can confirm this in two ways. The easiest is a visit to your SSA office to confirm the Dec 21 check is indeed on its way. The second is to enroll online for a SSA myAccount (https://www.ssa.gov/myaccount/) for a direct loink to the agency for account information, updates or questions.

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