In the year of FRA attainment, Social Security deducts $1 in benefits for every $3 you earn above the limit. Additionally, we will only count earnings for the months prior to FRA. In the calendar year you reach FRA, which you can check out on our website, you have a higher earnings limit. If you earn over the limit, we deduct $1 from your Social Security monthly benefit payment for every $2 you earn above the annual limit. In 2017, the annual earnings limit was $16,920 for those under FRA the entire calendar year. Retirees (or survivors) who choose to receive Social Security benefits before they reach full retirement age (FRA) and continue to work have an earnings limit. Some people, whether by design or desire, choose to work part-time or seasonally to supplement their retirement income. Some people plan for second careers in occupations that wouldn’t have adequately supported their families, but they do the work for pure enjoyment. Some people plan to retire and never work again.
Retirement doesn’t have the same meaning for everyone.
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