I'm in a very similar situation to yours - turning 63 in November and planning to start benefits in December after earning around $95k this year. Your question about the grace year provision really helped me understand my own situation better! One thing I wanted to add that might be helpful: I spoke with my HR department about timing my final paycheck and bonus payments, and they were actually pretty flexible about when to process them. They let me defer my year-end bonus until January 2025 to avoid any complications with the December earnings test. You might want to check if your employer has similar flexibility - it could eliminate the uncertainty about how that bonus gets counted entirely. Even if they can't defer the bonus itself, they might be able to provide very detailed documentation about the earning period that would help with SSA. Also, I've been keeping a detailed log of all my work activities and when they were performed versus when payments are received. It sounds overly cautious, but after reading about everyone's experiences here, I figure it's better to have too much documentation than not enough. Thanks for asking this question - the responses have been incredibly educational for someone in the same boat!

I've been following this discussion as someone who works in retirement planning, and I wanted to add a few important points that might help clarify things further. First, regarding the "grace year" provision - this is one of the most misunderstood aspects of Social Security. The monthly earnings test in your first year of benefits only applies to months where you're actually entitled to benefits AND performing substantial work activity. Since you're completely retiring in November, December should be clear as long as you don't engage in any work that month. One thing to be very careful about: if your employer considers you an "employee" when that December bonus is paid (even if you've stopped working), SSA might initially treat it differently than if you're clearly separated from employment. Make sure your employment termination is clean and documented. Also, I'd recommend filing your application soon if you haven't already. There can be processing delays, and you want to ensure your December benefits start on time. You can apply up to 4 months before you want benefits to begin. Finally, while the earnings test complexities are frustrating, remember that any benefits withheld due to earnings will increase your future monthly payments once you reach FRA. It's not money lost, just money deferred with a benefit adjustment later. The advice about getting documentation from your employer is spot-on. The more clarity you can provide SSA upfront, the smoother the process will be.

Another thing to keep in mind - if you're planning to work past your Full Retirement Age (67 in your case), you might want to consider whether it makes sense to keep benefits suspended even after this contract ends. Once you hit FRA, there's no earnings limit, but if you continue working, you could earn delayed retirement credits (8% per year) by keeping benefits suspended until age 70. Of course, this depends on your overall financial situation and health, but it's worth running the numbers. Given that you're already comfortable suspending benefits for this contract, you might find the math works in your favor to stay suspended longer if you plan to keep working. Just something to discuss with a financial advisor when the time comes!

Just wanted to share my experience since I went through something very similar last year. I was 65 and took a consulting gig that would put me over the earnings limit. The suspension process was actually pretty straightforward once I got through to SSA (took about a week of trying different times to avoid the busy periods). One tip that really helped me - when you call, have your exact start date for the new job ready, and be prepared to tell them approximately how much you expect to earn for the year. They'll want to know this for their records. Also, I found that calling first thing in the morning (8 AM EST) or late afternoon gave me the best chance of getting through without crazy hold times. The whole process took about 2-3 weeks from my phone call to actually seeing the benefits stop. Make sure you budget for that transition period! When I restarted benefits 8 months later, it was much quicker - only took about 10 days to get payments flowing again. Best of luck with your new position!

my friend said she just waited til 70 no filing or suspending or nothing just applied when she was 70 and got the bigger amount automatically

Thanks everyone for the helpful information! I'm going to just wait until 70 to file since that seems to be the consensus. With my family history of longevity and the potential survivor benefits for my wife, the 24% increase seems worth waiting for. Plus I'm still working and can afford to wait. Really appreciate all the insights!

This thread has been such a goldmine of information! I'm dealing with almost the exact same situation with my spouse - we filed for benefits starting in February 2025, but realized after the fact that starting at FRA in December 2024 would be significantly better financially. Reading through everyone's experiences, it sounds like the phone call approach is definitely the way to go. I'm particularly grateful for the specific terminology that @Isabella Ferreira shared about requesting a "protective writing date adjustment" and asking for a "Benefit Authorizer" if needed. Having that insider knowledge should make the process much smoother. One thing I'm curious about - for those who successfully made this change, did you get any kind of written confirmation afterward, or does it just show up as an adjustment in your online Social Security account? I like to keep good records for tax purposes, so I'm wondering what kind of documentation to expect. Thanks to everyone who has shared their experiences. It's so helpful to hear from people who have actually been through this process!

This entire thread has been incredibly educational! I'm actually an SSA employee (different office than Isabella) and wanted to add a couple of additional points that might be helpful: First, when you call, it's worth mentioning that you want to change your "month of election" - this is the most precise term that will immediately signal to the agent what you need. The protective writing date adjustment terminology is also correct, but "month of election change" is what we use most commonly for these situations. Second, regarding timing - if you're calling the 800 number, Tuesday through Thursday between 7:00-9:00 AM typically have the shortest wait times. Mondays and Fridays tend to be busiest. One small correction to what was mentioned earlier: since this is just a one-month adjustment and he's only received one payment, there shouldn't be any need to repay anything upfront. The system will automatically calculate the net difference between what he received in January and what he should have received for December benefits, then issue that as a retroactive payment. The $175/month difference you calculated is definitely significant - over his lifetime that could easily be $50,000+ when you factor in cost-of-living adjustments. Absolutely worth the phone call! Best of luck with the process, and feel free to ask if you have any other questions about how SSA handles these adjustments.

I'm experiencing this exact same confusion! I'm 65 and was planning to wait until 70 based on that 8% annual increase, but seeing similar discrepancies in my projections has me second-guessing everything. What's particularly confusing is that the SSA website doesn't clearly separate the guaranteed delayed retirement credits from their estimated COLAs and other adjustments. After reading through all these responses, it sounds like the 8% DRC is definitely still there - it's just getting mixed up with other factors in the projection tool. I think I'm going to try calling SSA during off-peak hours like someone suggested, and maybe download the PDF statement instead of relying on the slider tool. It's frustrating that something so important for retirement planning isn't more transparently calculated on their website! Has anyone found any third-party calculators that might give a clearer breakdown of just the delayed retirement credits without all the other projections mixed in?

I'm new to this community but dealing with this exact same issue right now! I'm 66 and have been planning my claiming strategy around that 8% delayed retirement credit, but my MySocialSecurity projections are showing similar confusing numbers. Reading through all these responses has been incredibly helpful - it sounds like the 8% DRC is definitely still being applied, but the online calculator is mixing it with COLA estimates and other factors. What I'm taking away from this discussion is that I should download the actual PDF Social Security Statement rather than relying on the slider tool, and maybe try calling during off-peak hours to get a clearer explanation. The suggestion about Claimyr sounds interesting too if I can't get through the regular way. It's reassuring to know I'm not the only one confused by how these projections are displayed - the SSA website really could be more transparent about breaking down the different components of the calculation!