Will the ‘earnings test’ cost you Social Security benefits? — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

Will the ‘earnings test’ cost you Social Security benefits?

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If you continue working while you receive Social Security benefits, you might have to forfeit part of your benefits under the so-called “earnings test.”

For those who started collecting benefits before the “normal retirement age” (NRA) for full benefits—66 for most baby boomers—the earnings limit for 2015 is $15,720 (up from $15,480 in 2014). You lose $1 in benefits for every $2 over the limit. If you attain the NRA in 2015, the limit is $41,880 (up from $41,400 in 2014). You lose $1 in benefits for every $3 over the limit.

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