Re: Social Security Question
From the SSA website:
If you are under normal (or full) retirement age (FRA): when you start getting your Social Security payments, $1 in benefits will be deducted for each $2 you earn above the annual limit. For 2008 that limit is $13,560 and for 2007, that limit is $12,960. Remember, the earliest age that you can receive Social Security retirement benefits remains 62 even though the FRA is rising.
In the year you reach your FRA: $1 in benefits will be deducted for each $3 you earn above a different limit, but only counting earnings before the month you reach FRA. For 2008, this limit is $36,120; for 2007, this limit is $34,440.
Starting with the month you reach FRA:, you will get your benefits with NO limit on your earnings.
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