Social Security - Impact of Work on Benefits Flashcards
1
Q
Case
A person has worked 35 years on full time basis, and has high earnings during that period. Now they are considering working part-time at a much lower fully indexed rate of compensation.
Question - Will the additional years of part time work increase their Social Security benefit at retirement?
A
No. Your retirement benefit is based on your 35 highest years of indexed compensation. The extra years of work beyond this will not increase your benefit unless you earn more in a yea on a fully indexed basis than one of the previous 35 highest indexed year of compensation.
