Early Retirement And Survivors Benefits

Several recent posts are about starting Social Security retirement early, meaning reduced because you are younger than full retirement age (FRA). Full retirement age is just a point of time. Depending on your overall plans, it is perfectly fine to start benefits earlier or later than FRA. Your choice. Another time to consider starting Social…
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portrait of a young couple and their son standing in a cemetery

Earnings And SSA Survivors Benefits

Q: Does the annual earnings test apply to survivor benefits? A: Yes, most of the time. In general, annual earnings test levels apply to anyone younger than full retirement age (FRA) and receiving Social Security benefits unless that person receives benefits because of his or her own disability. This applies even if a person receives…
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Smiling woman at home with coins

Average Social Security Amounts For November 2015

It has been a while since I posted average Social Security benefit amounts so here is national information for November 2015.   For easier reading, I condensed the full material and separated one chart into several parts. You can see the original data here.   This first image is for average benefits related to Social Security retirement…
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Social Security Taxable Earnings Base And Tax Rates For 2016

Social Security payroll taxes are paid each year up to a maximum amount set by law when you have wages or self-employment income that is covered by Social Security. This continues even when a person receives monthly Social Security benefits. New earnings are automatically reviewed each year to see if they increase benefits. The best…
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You Earned Over Your Annual Earnings Limit. Now What?

Q: I worked more than expected and earned over my 2015 earnings limit. What is my next step? A: Earnings limit information for people receiving Social Security retirement or survivors benefits is here. Earning test levels for 2016 are the same as 2015. The annual earnings test no longer applies once you reach full retirement…
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