Social Security Retirement Insurance

If you work while collecting your Social Security Retirement benefit, the impact on the benefit you receive depends on your age as well as the type of Social Security benefit you are collecting.

If you are younger than Full Retirement Age: If you are younger than Full Retirement Age and collecting Early Retirement Amount, $1 in Social Security benefits will be deducted for each $2 you earn above the annual limit. For 2011, the annual limit is $14,160.

If you have reached Full Retirement Age or older: During the year in which you reach Full Retirement Age, the impact of income from work on the amount you receive from Social Security is different for the part of the year before your birthday and the part afterward. For the period before your birthday, for every $3 you earn above a set limit, your retirement benefit will be reduced by $1. For the year 2011, the earnings limit is $37,680.

Starting with the month in which you reach Full Retirement Age, you will receive your full benefits regardless of how much you earn. In other words, once you reach Full Retirement Benefit, you receive your full benefit no matter how much you earn.

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