Working and Drawing Social Security
at age 64?

by Alice
(Georgia)

If you go over the limit you can earn, does SSI take half of what you earn over the limit or half of your SSI benefits after you go over the limit?

Example: You can earn $13,900 and your SSI check is $1150 per month, and you earn $23,900, do they take $5,000 (Half of what you earned over the $13,900 or $575 of your SSI check back?

Wendy's Two cents: OK, if you get $1150 per month from Social Security, and you work and earn $23,900,($9940. above the $14,160 limit)-- Social Security will keep $4970 of your Social Security benefits (half of the $9940 over and above the limit). This is $1 for every $2 you earn over the limit, right?

HOW do they do this? Social Security will stop all payments from January 2010 to May 2010. These five months equal $4970 (and more). Beginning in July 2010, you would receive your $1150 benefit for the rest of the year. In January 2011, they pay the May 2010 amount that is still due.

The good thing, every year you work, Social Security will recalculate your benefit.. so you get an increase for working the additional years! It's well worth it!

If you work past full retirement age, age 66 for you, then you get FULL Social Security and FULL wages. It's a win-win for you!

If this doesn't make sense, you can read more here on the
SS website. Hope this helps!