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Social Security: Working retirement benefits

Millions of Americans collect Social Security retirement benefits each year, but what happens if they decide they want to work at the same time?

social security card with cash representing retirement benefits

You are allowed to get benefits while working, but things like your age and the earnings limit will impact your benefits.

Once you hit your full retirement age, your benefits will no longer be reduced.

There are two major things the Social Security Administration looks at for working in retirement

Your benefits are reduced if you earn past a certain limit and are under your full retirement age for the entire year.

You will see $1 reduced for every $2 you make past $19,560 in 2022.

The year you reach full retirement age you will see $1 for every $3 you make past $51,960 deducted.

SSI: Social Security June 2022 payment schedule

Only the earnings before the month you hit your full retirement age are counted.

Once you hit the month you reach your full retirement age, you will no longer see a limit on your earnings while collecting benefits.

Wages from your job or self employment are considered earnings.

This includes

  • bonuses
  • commissions
  • vacation pay

What is not included are

  • pensions
  • annuities
  • investment income
  • interest
  • veterans/military/government benefits
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