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How does the reduction in benefits associated with higher earnings affect people's incentive to work past age 65?
Wiki User
∙ 13y ago
Social Security was originally intended to only be a supplement to retirement, with the majority of living expenses coming from savings, investments, etc. As such, a person still working past the earliest eligibility age would need less, or offset by a portion of the employment (i.e. losing $1 for each $2 earned) until full retirement age, when you can earn as much as you want without offsets. Also consider that if you earned more, in these latter years, than your least earnings in the highest 35 years of earnings, your benefits would actually increase, on average. If you earned less now, than your lowest income is those early years, your benefit would decrease. Also, consider that they may be using this method to help extend the Social Security program for a few more years.
Wiki User
∙ 13y ago
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How old must I be to receive benefits without restrictions to my earnings?
How old must I be to receive benefits without restrictions to my earnings
Can you collect Social Security retirement benefits and unemployment benefits at the same time in North Carolina without a reduction of unemployment benefits?
Yes. Although you must report any earnings you receive while getting unemployment benefits, the Related Link below says you do not have to report the Social Security benefits, meaning it does not affect your unemployment.
Retained earnings has a cost associated with it because?
There is an opportunity cost associated with stockholder funds
What was the social security income cap in 2008?
If income is earned in the year of full retirement age, the 2008 income threshold is $36,120. If income is earned prior to the year of full retirement age, the 2008 income threshold is $13,560. After those thresholds are reached, social security benefits are reduced. The excess earnings reduction is $1 of Social Security benefits for every $2 of earnings over the lower threshold for people who are not yet in the year they reach full retirement age. In the year a person reaches full retirement age, the excess earnings reduction is $1 of Social Security benefits for every $3 of earnings over the higher threshold. During the month of reaching full retirement age and thereafter, beneficiaries can earn an unlimited amount without a reduction in their Social Security benefits.
Do Dividends effect retained earnings?
Yes, dividends will have an impact on the retained earnings. It is important to note that dividends are considered to be a distribution of income and do not appear on the income statement. They will however be reduction in retained earnings on the statement of retained earnings or statement of changes in shareholders' equity (IFRS).
Does Stock dividends cause a reduction in retained earnings but they never reduce total shareholders' equity?
yes
Can one work and still draw benefits from unemployment?
That depends upon how much money you are earning from your work. If your earnings are relatively low, you may still qualify for unemployment benefits. However, if your earnings are high, then in effect you are no longer unemployed, and should not receive unemployment benefits.
What is earnings limit for social security for 2014?
The earnings limit for Social Security in 2014 is $15,120/yr. ($1,260/mo.)One dollar in benefits will be withheld for every $2 in earnings above the limit.
Has the 2010 earnings while on social secuirty chaged?
No for the 2010 year the earnings test amount is 14160 before your social security benefits would be changed.
Is dividend paid an expense in income statement?
No a dividend is not an expense. It is generally a reduction of retained earnings in the equity section of the balance sheet.
Is their a amount of money a retired person can make if he is on social securty?
Yes, retired individuals who receive Social Security benefits can work and earn a limited amount of money without affecting their benefits. This is known as the Social Security earnings limit. Once their earnings exceed this limit, their benefits may be reduced.
What are the social security benefits in Wyoming?
Social Security benefits are the same no matter what state you live in. Social Security retirement benefits are based on your earnings record or "credits" and your age.
