Watch out - check with SSA - all smiles Posted: Mar 4th, 2016 - 9:16 pm In Reply to: For those of you that have taken early retirement - do you have any
SSA has a formula for reducing your early retirement benefits by $1 for every $2 you earn over a specified amount, this year over $15,710.
Being the government, it is really a convoluted mess as to how they calculate it, how and when you get it, etc.
This scheme was determined based on the assumption that you make a definite specific sum and the same sum of money each month for the entire year (gee that was maybe the 1960s).
There are those at Nuance who tried early retirement and working, only to find out that the SSA employees probably used common core math and they ended up owing a lot of money plus interest for overpayments. Some had to quit working entirely.
There is a pamphlet put out by SSA entitled "Early Retirement and Working," I think I remember that right.
I'd suggest figuring it out yourself and putting the money in escrow in case they screw up and want the money back.
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