Lisa Detanna - Maximizing Your Social Security Retirement Benefits
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This paper by Lisa Detanna is designed to give you an overview of the critical factors that relate to your Social Security payments. This is the first step to developing a basic understanding of how your Social Security benefits work.
Transcript of Lisa Detanna - Maximizing Your Social Security Retirement Benefits
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2012 Earnings Limit
2013 Earnings Limit
Under FRA$1 of benefits withheld for every $2 in earnings above the limit
$14,640 $15,120
Year individual reaches FRA$1 of benefits withheld for every $3 in earnings above the limit for months prior to attaining FRA
$38,880 $40,080
Month individual reaches FRA and beyondReduction no longer applies
Unlimited Unlimited
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Filing StatusProvisional
Income% of Benefit
Taxed
Single
<$25,000 0%
$25,000-$34,000 50%
>$34,000 85%
Married, filing jointly
<$32,000 0%
$32,000-$44,000 50%
>$44,000 85%
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