Showing posts with label special earnings limit rule (Social Security). Show all posts
Showing posts with label special earnings limit rule (Social Security). Show all posts

Friday, January 29, 2021

What is Social Security’s 'special earnings limit rule'?

Title: What is Social Security’s 'special earnings limit rule'?

Article Snip: "...The special earnings limit rule is an exception to Social Security’s earnings limit...The reason for the rule is that Social Security bases the earnings limit on a full year’s income, but it recognizes that most people retire at some point mid-year and by then may have already earned more than the limit. Rather than count that income and reduce your benefits accordingly, Social Security applies a “monthly earnings test”: Once you claim your benefits, you’ll get your full payment for any month that Social Security considers you to be “retired” (doing limited or no paid work), regardless of your total earnings for the year. Here’s how it works..."

Reference: www.aarp.org
special earnings limit rule (Social Security),