Question

I am 75 years old and have been receiving Social Security benefits since I was 65 years old. I am still working full-time as an independent contractor and on average I am earning more now than prior to the time I started receiving benefits. Is there a way to recalculate my earnings base and increase my benefits? Any suggestions would be appreciated.

Answer

Social Security automatically recomputes your retirement benefit based on additional earnings per POMS RS 00605.560 Automatic Earnings Reappraisal Operation (AERO), so, there is nothing you need to do, says Mike O’Connor of Economic Security Planning.

You can read more here, adds Lee Lefkowitz, a Social Security expert. The answer is under “Are there other ways work can increase your benefits?”

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Question

I am 75 years old and have been receiving Social Security benefits since I was 65 years old. I am still working full-time as an independent contractor and on average I am earning more now than prior to the time I started receiving benefits. Is there a way to recalculate my earnings base and increase my benefits? Any suggestions would be appreciated.

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