The Motley Fool Discussion Boards
Retirement Discussions / Retired Fools
|Subject: Re: Social Security & work after 65||Date: 4/10/2000 1:54 PM|
|Author: TMFPixy||Number: 3478 of 18882|
<<Pixy: re your Message 3457, I understand that, for all the folks above 65 (with 40 good quarters)who are now working full time, they will receiving starting in May 2000 SS checks retroactively from Jan, 2000. Also, I understand that SS will continue taking full SS deductions from the person's full-time job salary while the person is getting SS benefits.
Question: Since SS continues to take their cut from your working salary, would you know if this working person will get the 5-6% SS benefit increase (above the inflation adjustment) for each year that that he continues to work full time? >>
No. The increase you speak of applies only to those who wait beyond age 65 to collect the benefit. Those who collect it and work might see a very, very small increase because the additional work replaced some of the low years used in calculating the original benefit, but that's all.
|Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|