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What Are the 2021 Social Security Earnings Test Limits?

November 3, 2020

From the Motley Fool website

If you work and collect Social Security prior to full retirement age (FRA), you’ll be subject to the earnings test. If your income exceeds a certain limit that changes from year to year, you risk having some of your benefits withheld.

In 2020, you could earn up to $18,240 without having it impact your benefits, assuming you hadn’t yet reached FRA. In 2021, that limit is increasing to $18,960. Once your income exceeds that point, you’ll have $1 in Social Security withheld for every $2 you earn. Furthermore, if you’ll be reaching FRA in 2021, that limit increases to $50,520 (up from $48,600 in 2020). From there, you’ll have $1 in Social Security withheld for every $3 you earn.

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