SOCIAL SECURITY

When should you start retirement benefits?

Compare claiming ages using the monthly full retirement age amount supplied by SSA.

Confirm your official estimate first

Birth year Birthday is January 1 (SSA uses the previous birth year's rule) SSA estimated monthly benefit at full retirement age (USD)

Use the FRA amount, not an already reduced age-62 or increased age-70 estimate.

This compares age factors for your own retirement benefit only, not spousal or survivor benefits. It excludes earnings-test withholding, COLA, taxes, the family maximum and SSA's monthly rounding. Eligibility in the first month at 62 depends on your birth date; delayed credit posting between FRA and 70 can vary. Rely on SSA's individual determination.

Working after claiming and taxes

Before FRA, earnings above the annual limit may cause some benefits to be withheld. The earnings test no longer applies at FRA. Up to 85% of Social Security benefits may be included in federal taxable income; this is not an 85% tax rate. This version does not calculate tax.

SSA: working while receiving benefits IRS: benefit taxation

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