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Sometimes called a "budget letter" or proof of income letter, the benefit verification statement from Social Security is used for several different instances where proof of your status or income is...
Since this is the official record of your name, Social Security number and earnings, it’s the one you should ensure is accurate. If you don’t want to set up your own online SSA account ...
The general Social Security earnings-test limit in 2025 is $23,400 (up from $22,320 in 2024). You'll have $1 in Social Security withheld for every $2 you earn above that limit.
Robert Reich, former United States Secretary of Labor, suggests lifting the ceiling on income subject to Social Security taxes, which is $168,600 as of 2024. [119] Increase Social Security taxes. If workers and employers each paid 8.0% (up from today's 6.2%), it would provide solvency through 2090.
The earnings test does not apply if a person is at or beyond the normal retirement age, is under the normal retirement age but has disability payments, or is living outside of the United States and working in a job that is not covered by Social Security. [2]
Earnings record: You should see a year-by-year earnings record on your statement that details how much income you earned each year you worked. Double-check that the information looks accurate.
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If you’re before full retirement age: Those earning more than the earnings limit ($22,320 for 2023) will have $1 withheld from their Social Security benefit for every $2 earned above the limit.