Income Limits For Spousal Social Security

Before you reach full retirement age the social security administration deducts 1 from your benefits for every 2 you earn above the annual limit.

Income limits for spousal social security. But suppose your retirement benefit is only 900 a month. Jane is 12 360 over the threshold which. And for every 2 you earn over the threshold in earned income 1 of social security benefits is suspended. In other words if your income exceeds the cap on yearly earnings which in 2020 is 18 240 for people who claim benefits before full retirement age social security will withhold money from your retirement payments.

28 240 total wages the social security income limit of 18 240 10 000 income in excess of limit because this is a full calendar year during which rosie is receiving benefits but is not yet full retirement age the benefits reduction amount is 1 reduction for every 2 in excess wages. The earnings test limit in 2019 is 17 640. For 2020 the earnings test limit is 18 240. Your spousal benefit would be 1 000 half of your spouse s benefit so social security will in effect ignore it and pay your higher retirement benefit of 1 200.

How much you get you can claim a social security benefit based on your own earnings record or you can collect a spousal benefit that will provide you 50 percent of the amount of your spouse s social security benefit as calculated at their full retirement age or fra.