Ask The Experts: Retirement

By Reg Jones

Special retirement supplement

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Q. An employee retires in June (at age 58) and has been paid over $50,000 in wages. Will this employee be eligible for special retirement supplement payments immediately or will they be withheld until the start of the next year?

A. The amount of the special retirement supplement for anyone who retires during the year will be determined by the “first year rule.” To learn how that would affect the SRS, go to www.ssa.gov/retire2/rule.htm.

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