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If I receive social security benefits but continue to work…

Customer Question
If I receive social...

If I receive social security benefits but continue to work full time will my monthly benefit be increased because of additional salary based social security deductions withheld?

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I retired from work at 67 and began receiving monthly social security; returned to FT work at age 70; been in the same FT job till now at age 77 with no reevaluation of monthly benefits. Am I entitled to an increase based on the additional seven years of contributions?

Submitted: 10 months ago.Category: Social Security
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Answered in 1 minute by:
10/3/2017
Social Security Expert: TaxRobin, Tax Preparer replied 10 months ago
TaxRobin
TaxRobin, Tax Preparer
Category: Social Security
Satisfied Customers: 18,354
Experience: 15+ years in tax preparation and instruction
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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Social Security Expert: TaxRobin, Tax Preparer replied 10 months ago

Each year SSA reviews the records for all working Social Security recipients. If your earnings for the prior year are higher than one of the years they used to compute your retirement benefit, they will recalculate your benefit amount. SSA pays the increase retroactive to January the year after you earned the money.

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Customer reply replied 10 months ago
I would need to look at the salary I began receiving social security benefits (age 68), and compare it with what I am earning now (age 75) to see if I should be receiving an adjustment in my monthly benefits. Is that right?
Social Security Expert: TaxRobin, Tax Preparer replied 10 months ago

No, the SSA did not just use the income you were receiving when you began with benefits. They looked at your history and chose the earnings for the highest 35 years are averaged and divided by the number of months in 35 years to arrive at Average Indexed Monthly Earnings . They looked at 35 years of your earnings.

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Customer reply replied 10 months ago
Ok, but that average would definitely have increased as a result of the additional earnings since I have been earning more than any of those previous years.
Social Security Expert: TaxRobin, Tax Preparer replied 10 months ago

If you have earned more in a year than you earned for a year they used then SSA recalculates. If you believe that they have not then make an appointment with your local office to sit with an agent in person.

A positive 5 star rating is appreciated so I am credited for assisting.

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Social Security Expert: TaxRobin, Tax Preparer replied 10 months ago

Hi, just checking to see if you made that appointment

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