Social Security earnings limit confusion - will I get full checks after reaching FRA in Dec 2024?

You'll reach FRA in January 2025, not December 2024. The way SSA calculates it, you reach FRA the month AFTER you complete 66 years and 8 months. Since you were born in May 1958, you'll hit 66y8m in January 2025. The good news is once you reach FRA, the earnings test completely disappears. You'll receive your full benefit amount regardless of how much you earn, starting with your January 2025 payment (which you'll receive in February since SS pays a month behind).

wrong info above. if born in may 58, ur FRA is actually in january 25. with SS its always the FULL month after your birthday + the months. do the math: may 58 + 66 years = may 24 + 8 months = january 25. so youll get full checks starting feb 2025 (they pay month behind

For someone born in May 1958, the Full Retirement Age is indeed 66 years and 8 months. That means you'll reach FRA in January 2025. Regarding the earnings limit: The annual earnings test applies for the calendar year 2024, but in the year you reach FRA, a special monthly earnings test applies for the months before FRA. So for January 2025 when you reach FRA, there is no earnings limit whatsoever. For 2024, you'll be subject to the higher earnings limit that applies in the year you reach FRA (probably around $56,000 for 2024, we don't have the exact figure yet). And they only count earnings in the months before you reach FRA. After January 2025, you'll receive your full SS payment every month regardless of your earnings. Plus, after you reach FRA, SSA will recalculate your benefit to give you credit for the months your benefits were withheld due to excess earnings.

I'm in almost EXACTLY the same boat (except born in June '58). Been getting partial benefits since 62 because I still work. It's so frustrating!!! Half my checks disappear every year. I called SSA three times and got three different answers about when exactly I'll hit FRA. Last person told me it's January 2025 for me too. The whole system is RIDICULOUS with these calculations!!

I went through this same confusion last year. For anyone trying to reach Social Security about FRA questions or earnings limit issues, I found a service called Claimyr that got me through to a real agent in under 15 minutes after spending days trying on my own. Their website is claimyr.com and they have a video demo at https://youtu.be/Z-BRbJw3puU showing how it works. Saved me so much frustration when I needed clarification about my own FRA cutoff date and earnings recalculation.

When I reached FRA last year, they did recalculate my benefit and gave me credit for months that were withheld. It happened automatically about 3 months after my FRA date. My monthly benefit went up about $180 because of all the months I'd had withheld over the years due to working. Definitely worth the wait! Just make sure your earnings records are accurate in your mySocialSecurity account.

my friend had the same issue and she said the month u turn the exact age is when FRA happens not the next month. so if ur 66+8mo in December thats when u hit FRA. anyone know if thats right?

Just to add some clarity about the recalculation: After you reach FRA, Social Security will automatically adjust your monthly benefit amount to account for any months your benefits were withheld due to the earnings test. This is done through what's called an "ARF adjustment" (Adjustment to the Reduction Factor). The adjustment happens automatically about 2-4 months after you reach FRA. You don't need to request it, but it's always good to follow up if you don't see the change by May 2025. The increase could be significant depending on how many months of benefits were withheld over the years.

I still think the whole system is INSANE!!! Why make us wait until 66 and 8 months? Why not just 66 or 67? And the earnings limit is PUNISHING people who work. If I didn't need the money I wouldn't still be working at 66!!! Anyone else feel like the system is designed to confuse us????