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Earned Income After Social Security Starts 
You can continue to work and receive full retirement benefits. Learn how it affects your benefits here.


 ACTIVE DUTY  RESERVE  NATIONAL GUARD  VETERANS  RETIREES


Social Security: Estimating Retirement Benefits
 

Working And Receiving Benefits At The Same Time

You can continue to work and receive full retirement benefits. Your earnings in and after the month you reach your full retirement age will not affect your Social Security benefits. However, your benefits will be reduced if your earnings exceed certain limits for the months before you reach your full retirement age, 65 for persons born before 1938 and gradually increasing to 67 for persons born in 1960 or later.

Here's how it works;
  • If you're under full retirement age, $1 in benefits will be deducted for each $2 in earnings you have above the annual limit ($11,520) in 2003.
  • In the year you reach your full retirement age, your benefits will be reduced $1 for every $3 you earn over a different limit ($30,720 in 2003) until the month you reach full retirement age. Then you can work without any reduction in the amount of your monthly benefit, no matter how much you earn.
People who work and collect disability or SSI benefits have different earnings requirements. They should report all their income to Social Security regardless of how much they earn.

Social Security counts only the earnings you make from a job or your net profit if you're self-employed. This includes compensation such as bonuses, commissions and vacation pay. It doesn't include pensions, annuities, investment income, interest, Social Security, veterans or other government benefits.

For More Information: To learn more about the Social Security earnings limits and how they affect you, call or visit any Social Security office to ask for a copy of the leaflet, How Work Affects Your Benefits (Publication No. 05-10069).
 
 


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