Ask The Experts: Retirement

By Reg Jones

Social Security earnings test

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Q. If I retire at 56½ with 30 years of service and draw $4,000 a month from FERS, will it reduce my special retirement supplement or Social Security payment at age 62? In other words, since it is over the Social Security limit, does it count as income, or is it treated separately?

A. No. The Social Security earnings test is only applied to earnings from wages or self-employment, not annuities or other sources of income.

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