Font Size
    • Share to Facebook
    • Twitter
    • Email
    • Print

A person who received reduced benefits before full retirement age can earn up to $14,640 in 2012 with losing any benefits. Is that figure net income?

Q. A person who received reduced benefits before his full retirement age can earn up to $14,640 in 2012 with losing any benefits. Is that figure net income, or adjusted gross income after deducting an IRA contribution or small business expenses?
A. The earnings limitation provision of law requires the Social Security Administration to count as earned income the net income reported on Internal Revenue Form SE and/or total earnings as reported on an employer W-2 report of wages. These earnings are not reduced by contributing to an IRA.


   

Subscribe e-Alerts

Sign up to receive National Committee updates on Social Security and Medicare.

Read Our Blog

Paul Ryan's Medicare Privatization Scheme Edging Closer to Reality

Paul Ryan’s dystopian dream of privatizing Medicare may soon come true. At least he seems to think so. In an interview with right-wing Wisconsin radio host Vicki McKenna, the House Speaker said that Medicare “reform” is coming to the Capitol this Spring. “I’m pretty sure the budget committee in the House will pass that on in the House Republican budget,” Ryan said. In fact, House Budget Committee Chair Marsha Blackburn (R-TN) has already promised to include Medicare privatization in the budget process later this month. This is scary news for millions of current and future retirees.

Read More




 

            

 

Copyright © 2017 by NCPSSM
Login  |