AETH01 – HEADER
How Work Affects Your Social Security
AETC07 – CAPTION
The Yearly Earnings Limit
AETC08 – CAPTION
A Special Rule That Applies To Earnings In One Year
AETC09 – CAPTION
If Your Expected Earnings Change
AET045 – EXPLANATION ON HOW EARNINGS CAN AFFECT A BENEFICIARY WHEN HE OR SHE IS UNDER
FULL RETIREMENT AGE.
When you get Social Security retirement benefits before you reach full retirement
age, there is a limit to the amount you can earn and still receive benefits. And,
if other family members get benefits on your Social Security record, your earnings
may affect the total family benefits.
Once you are full retirement age or older, there is no limit on the amount you can
earn while you and your family receive benefits.
AET046 – EXPLANATION OF BENEFIT WITHHOLDING
Each year, there is a limit to the amount you can earn for the year and still qualify
for full benefits. If you earn over the allowed amount for the year, we usually withhold
$1 in benefits for every $2 you earn above the limit.
When we know that you expect to earn over the limit, we withhold benefits. At the
end of the year, when we know how much you actually earned, we pay any additional
benefits that you are due. Or if we paid you too much in benefits, we ask you to pay
us back. However, in the year you turn full retirement age, we only withhold $1 for
every $3 you earn above the limit:
AET047 – EXPLANATION OF THE SPECIAL ONE-YEAR RULE EARNINGS TEST
Sometimes, people who retire in mid-year have already earned more than the yearly
earnings limit before they retire. That's why there's a special rule that applies
to earnings for one year, usually the first year of retirement. Under this rule, you
can receive a full Social Security payment for any whole month you are "retired,"
regardless of your yearly earnings. This year, a person under full retirement age
is considered retired if he:
Works for wages and earns (1) or less in a month; or
Works less than 45 hours a month in self-employment.
LMETY Monthly earnings limit in format $$$$$.¢¢
Year of Earnings Report (YOER) monthly earnings calculated in the format $$$$$.¢¢
BRR013 – UTI INFORMS THE BENEFICIARY TO REPORT ANY CHANGES IN EARNINGS
To help us pay you correctly, please report any change in your earnings to us. If
you see that your earnings will be different from your last report or your earlier
estimate, please call or visit any Social Security office to let us know.