Got an S.S. question, please?

[gwstang]

I just turned 62 today. Already filed for SS for me and the red head, that's all finished. I am retiring from my job June 1. So, I will have already worked 5 months for this year. Boss wants me to fill in occasionally because I am a grade 4 certified water plant operator (highest rating here). I told them over a year ago that I was retiring this June 1. Took them 6 months to find someone. He has to pass the big state exam and have worked 1 year before he can take the reigns by himself on a shift. what I am wondering is: since I will have already worked 5 months this year, will it mess up my SS since I am already well over the $17K that they allow? Or, does the 17K start after I retire (reset) so I can work a little here and there and be OK....up to the 17K ?

 

[TractorGuy]

Go online and request a call back from them. That is the easiest way I've found to talk to a SS person. I don't remember how that works but you would have probably been better off to wait until you quit work to apply.

 

[mddorange]

You are in luck. Here is the official code:

Be under full retirement age for all of 2018, you are considered retired in any month that your earnings are $1,420 or less and you did not perform substantial services in self employment.

That means that in your retired months, June 1 until December 31st, you can earn up to $1,420.

I hope that helps.

 

[gwstang]

You are in luck. Here is the official code:

Be under full retirement age for all of 2018, you are considered retired in any month that your earnings are $1,420 or less and you did not perform substantial services in self employment.

That means that in your retired months, June 1 until December 31st, you can earn up to $1,420.

I hope that helps.

That would be for each month. Thanks.

 

[gwstang]

That would just be way too easy...lol Gov has to make everything entangled and difficult.

 

[fishheadbob]

I spent 28 years with Social Security explaining this jibberish to people. mddorange nailed it.

 

[Tractor Seabee]

The down side of taking the reduced retirement at 62. At 65 you can make all you want. I did that and then went back to work as a consultant part time. They paid me $10.00/HR over their payroll book cost when I worked there. You can keep adding to your SS annuity every year you have minimum earnings per SS up to age 70. They re-compute it every year based on 1040 or SS with holding info. I did that as a civil service annuitant with minimum paid into SS. Raised SS annuity from $600+ to over $1500 plus a month. Wiped out the less than 35 years in the equation which is a real hit when you have averaging of 35 highest years with a bunch of zeros. Fishhead is a jewel among a bunch of rocks. Folks he helped are lucky, my experience with them is 180 out. Even the retirement seminars by the Feds were worthless on SS.

Ron

 

[B7510HSD]

So I have another question if you have a pension that is over the $1420 a month does that count??

 

[TractorGuy]

So I have another question if you have a pension that is over the $1420 a month does that count??

No. Pension income is exempt.

 

[fishheadbob]

The down side of taking the reduced retirement at 62. At 65 you can make all you want. I did that and then went back to work as a consultant part time. They paid me $10.00/HR over their payroll book cost when I worked there. You can keep adding to your SS annuity every year you have minimum earnings per SS up to age 70. They re-compute it every year based on 1040 or SS with holding info. I did that as a civil service annuitant with minimum paid into SS. Raised SS annuity from $600+ to over $1500 plus a month. Wiped out the less than 35 years in the equation which is a real hit when you have averaging of 35 highest years with a bunch of zeros. Fishhead is a jewel among a bunch of rocks. Folks he helped are lucky, my experience with them is 180 out. Even the retirement seminars by the Feds were worthless on SS.

Ron

Thank you. Your response about working and what SS calls recomputations is correct FOR YOU . It rarely applies to regular people who weren't old school Federal employees who worked under a retirement system where Social Security taxes could not be withheld. (Don't worry taxpayers. I cannot collect SS since I didn't work enough under SS to collect.)
For 99% of the people the age for no work penalties is now age 66. The problem I would run into is was that someone else would read what you wrote, take it as gospel, and wonder why the government felt the need to screw him by not giving a big increase for little work. Most everybody's case is just a little bit different and slightly different rules are appropriate.