Social Security Earnings Tests: 5 Things You Must Know

If you’re still working and claim Social Security early, your benefits could be reduced, at least temporarily.

A couple looks at a check with concern.
(Image credit: Getty Images)

A big reason experts advise waiting until at least full retirement age to claim Social Security: You get to skip the Social Security benefits earnings test, which hits early claimers who are still working. But there are actually two earnings tests–an annual test and a monthly test–and the second one can help early retirees leaving work midyear avoid the trap.

Here are five things you need to know about the two Social Security earnings tests, including the income thresholds the Social Security Administration set for 2022.

Rachel L. Sheedy
Editor, Kiplinger's Retirement Report