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Social Security Earnings Limit For 2020 | Rural Money

Social Security Earnings Limit For 2020

Important Information From Social Security About Your Benefits Social Security earnings limit for 2020 have been published; if you are at full retirement age (now age 66)…, you may keep all of your benefits. What they actually stated is:¬† “If you are at full retirement age (now age 66) or older for all of 2020, you may keep all of your benefits no matter how much you earn.” Further, if you are younger than full retirement age at any time in 2020, there is a limit to how much you can earn before we reduce your benefits. Continuing to work could result in withholding some of your benefits. However, we would adjust your benefit amount once you reach full retirement age to account for the months of withheld benefits. Also, we use your 35 highest years of earnings to calculate your benefits. If you continue to work and these earnings…

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