Social Security increase based on most recent 1040

by Linda
(Kansas City, KS)

I am 67 and have been collecting benefits since age 66. I am also still working. Last year I got an increase due to my 2008 1040. When can I expect the next increase based on my 2009 1040, and will it be retroactive to January?

Wendy: First GOOD FOR YOU -- (1) you waited to age 66 for your highest Social Security benefit and (2) you continue to work to increase it even further, Wow!

Your Social Security should change in December 2010... you should get an increase for your 2009 earnings (assuming those earnings raised your benefit, and usually they do). The increase would be retroactive to January 2010.

The best part -- where other Social Security recipients don't get a raise in 2010, you do, and its for the rest of your life too!