Do You Know Social Security Earnings Rules?

I retired from work and started receiving SS this year.

My company contacted me to say that I qualified for an incentive retirement program (Enhanced Early Retirement). The program was approved 2 weeks before I left and before it was announced....but I still qualified.

I can take it in a monthly pension with Cost of Living and with survivor benefit for my wife. OR,.....I can take a Lump Sum. .....

My question is if I take the Lump Sum option (about $27,000), will that be

considered as INCOME (even though it is a pension) and will it jeapodize my Social Security income....?

Will it be counted as "outside" wage earnings above my annual threshold?

Joseph F. Soto of FL 5:16PM September 27, 2012