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Information for "Social Security/Benefit Adjustments, Reductions, Deductions, and Suspensions"
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| Display title | Social Security/Benefit Adjustments, Reductions, Deductions, and Suspensions |
| Default sort key | Social Security/Benefit Adjustments, Reductions, Deductions, and Suspensions |
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| Page ID | 21014 |
| Page content language | en - English |
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| Page creator | Lost Student (talk | contribs) |
| Date of page creation | 00:48, May 19, 2020 |
| Latest editor | Lost Student (talk | contribs) |
| Date of latest edit | 00:48, May 19, 2020 |
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This attribute controls the content of the description and og:description elements. | The monthly old-age insurance (retirement) benefit is pegged to a "full retirement age" defined in the Social Security Act (which is between 65 and 67 depending on year of birth). Those who start benefits at that age get their full "primary insurance amount," an amount that is based on their personal earnings history. Those who start benefits prior to that "full retirement age" receive a smaller monthly sum; those who start benefits later, a larger one. Prior to that "full retirement age," benefits are also affected by the worker's continued receipt of significant earned income. Claimants seeking benefits while they continue to work may have their monthly benefit reduced or even eliminated because of the resulting earnings. Lastly, a "Windfall Elimination Provision" reduces the base benefit for individuals who also receive pensions based on employment that was not covered and taxed by Social Security, as for example, work for some government agencies or employment outside the U.S. |
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