Question about the First Year Exception in Social Security

[lmaras]

I am semi-retired (went back to work part time after 6 years of full retirement) and my wife is planning to retire in September. My understanding is that she will be able to draw SS and continue to work full time through the end of the year with no penalty.

I have read what the SS literature says about this but it is a little unclear.

Any assistance would be greatly appreciated.

 

[mathjak107]

what are your fra ages and how old are both of you ?
that determines what you can make

 

[lmaras]

what are your fra ages and how old are both of you ?
that determines what you can make

That doesn't apply to the first year exception. I know what you are talking about but this is a special case for the first year.

 

[Myquest55]

I have not heard of this but both of us were not working by the time we reached our FRA and began Soc. Sec.

 

[mathjak107]

That doesn't apply to the first year exception. I know what you are talking about but this is a special case for the first year.

if you are under fra and it isn’t the year you will be fra then earnings are capped at 1770 a month .once you start to collect .

you have not told us if you are fra or not.

first year rules only mean what you earnup until you collect is not counted . once you file if you are under fra you are capped at 1770 a month or you give ss back

so whether fra or not certainly matters.

in the year you will be fra you are allowed 3x that cap until you hit fra , then no income limit if you work