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We use the following earnings limits to reduce your benefits: If you are under full retirement age for the entire year, we deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2024 that limit is $22,320.
In 2024, if you collect benefits before full retirement age and continue to work, the Social Security Administration will temporarily withhold $1 in benefits for every $2 you earn over $22,320. If you will reach FRA in 2024, the earnings limit goes up to $59,520 and $1 is deducted from your benefits for every $3 you earn over that.
In the year you reach full retirement age, we deduct $1 in benefits for every $3 you earn above a different limit. In 2024, this limit on your earnings is $59,520. We only count your earnings up to the month before you reach your full retirement age, not your earnings for the entire year.
Earnings cap: The limit is $22,320 in 2024. It will rise to $23,400 in 2025. What gets held back: 50% of anything you earn over the cap. How it works: The Social Security Administration deducts...
If you reach full retirement age in 2024, we must deduct $1 from your benefits for every $3 you earn above $59,520 until the month you reach full retirement age. These examples show how the rules would afect you:
For 2024, the annual limit is $22,320, with $1 withheld for every $2 earned above this threshold. Once you reach your full retirement age, there is no limit on how much you can earn while...
There’s a limit on how much you can earn and still receive your full Social Security retirement benefits while working. Some people who file for benefits mid-year have already earned more than their yearly earnings limit amount. We have a special rule for this situation.