Spouse Social Security

[AlfredF598597]

I’ve been receiving social security benefits in 2019. Full retirement age in January (66). I also still work full time. My wife will begin earning benefits at the age of (65) in 2020, off of my work credits. Can I continue to work as much as I want without being penalized?

[GailL1]

@AlfredF598597 

Social Security.gov - 2019 " How Work Affects Your Benefits"  

Once you reach your FRA, you can earn as much as you can muster and there will be no reduction to your benefit for going over the SS earned income limit. 

There is a "special rule which contains a higher earned income limit" in the year that you reach FRA; read the SS publication.

As to your wife and her spousal benefit - it will be 50% of your (early retirement calculated) benefit less a % since she is less than her FRA also (65).  This Social Security page can help you both to understand her benefit.

https://www.ssa.gov/oact/quickcalc/spouse.html 

One thing to remember is if you are going to keep working and paying into the SS system while you work, your benefit will get bigger (see the SS publication I linked above).  I also believe that your wife's spousal benefit will get larger too, although I am not 100% sure on that and I am just too tired to look it up right now.

[AlfredF598597]

Thanks so much for the reply! Appreciate any insight. Just so I understand, I can continue working full time even though she isn't full retirement age and receiving spouse benefits? Again, thank you for taking the time to help me understand this more. 

[GailL1]

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@AlfredF598597 wrote:

Thanks so much for the reply! Appreciate any insight. Just so I understand, I can continue working full time even though she isn't full retirement age and receiving spouse benefits? Again, thank you for taking the time to help me understand this more. 

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Once you reach your FRA in January 2020, you can work and have unlimited earned income without your SS retirement benefit being reduced by a SS earnings limit.

Once you reach FRA in January 2020, your wife's spousal benefit is not affected by your working and earning since you will no longer be affected by the SS earnings limit.