Do You Know Social Security Earnings Rules?

Reader Comments
Back to blog

Gerlad Fleischman: Wow! A very tough question. I am not an expert; but, if you are under full retirement age, then you won't see any of that 2200 since they reduce your SS pmt by 1 for every 2 over 14000 or so. Since you make 90K you are over 76K over and that wipes out SS pmts. If you are over full retirement, then you keep all the 2200. The last I read I think they then review your account each year and change your pmt according to the formula they use in the first place. Your 5000(is really 10000 because your employer matches your contribution) is not divided up to increase your SS pmt. Best advice? Go to your SS office and get their help!

kegler299 of TN 8:15PM April 17, 2009

My question is ex. I keep working and earn 90,000 dollars a year and pay in to soc sec 5000 for that year. what % of that 5000 would I get on the monthly soc sec increase. letss Just say I get 2200 dollars a month from soc sec now, could I expect 150 dollars increase per month from the money I payed in even if I was on soc sec. I hope you under stand my question.

Gerlad Fleischman of MI 2:13PM April 16, 2009

In My opinion, Taxing Social Security Benefits is unconstitutional. This money has already been taxed. It belongs to those of us who paid it in. Not freeloaders, or illegals. Or for that matter any other group that the government chooses to use it for.

Pat of TX 12:26PM April 16, 2009

Why do we continue to pay tax on our SS income?
Where do we start to put a stop to this practice? They want to stimulate the economy then here is an easy way to start. Let us have our own money!!!

George Murphy of MA 1:49PM April 15, 2009

I am 73 and still working full time. I was just told that 85% of my social security is being taxed. Why.
I have paid into SS all of my life and feel this is double taxation.

Jim O'Brien of CA 11:59AM April 15, 2009

In Texas if you are a teacher, you lose benefits anyway. What a cheat! Too bad the politicians don't vote the way their constituents want them to. In Texas, if they did, the laws would change!

Karen of TX 1:55PM April 14, 2009