Social Security Earnings Test Calculator
Social Security Earnings Test
Calculate how much of your Social Security benefits will be withheld if you continue working while collecting benefits before your full retirement age.
Formula
Excess Earnings = Annual Earnings - Earnings Limit; Before FRA Year: Withheld = Excess / 2; In FRA Year: Withheld = Excess / 3; Benefits Received = Annual Benefit - Amount Withheld
Frequently Asked Questions
What is the Social Security earnings test?
If you collect Social Security before your full retirement age and earn more than the annual limit, benefits are temporarily reduced. In 2024, $1 is withheld for every $2 you earn above $22,320. In the year you reach FRA, $1 is withheld for every $3 above a higher limit.
Are withheld benefits lost forever?
No. Benefits withheld due to the earnings test are not lost permanently. When you reach full retirement age, Social Security recalculates your benefit upward to credit you for the months benefits were withheld, resulting in higher monthly payments going forward.
Does the earnings test apply after full retirement age?
No. Once you reach your full retirement age, the earnings test no longer applies. You can earn any amount without any reduction in your Social Security benefits.
You may also need
$
Social Security Spousal Benefit Calculator
Calculate the optimal Social Security spousal benefit strategy by comparing individual and spousal benefit amounts at different claiming ages.
Finance$
Retirement Tax Bracket Calculator
Determine which federal tax bracket you will fall into during retirement based on combined income from Social Security, pensions, withdrawals, and other sources.
Finance