benjamin retired at age 62 and began to collect social security benefits. after a year of playing 3 rounds of golf a day, ben is a bit bored and decides to go back to work part time. in 2021 (when benjamin is age 63) he earns $28,960 at his part time job. his social security benefit before any adjustments for 2021 is $18,000. what will his actual social security benefit be for 2021?

Respuesta :

13,000 will be his actual social security benefits be for 2021. Benjamin has earned $25,720 at his part time job.

The total age retirement is 66 for Benjamin. So we can understand that he is not at the full age retirement and continued his working in 2015. Benefits from Social Security are payments paid to eligible retired adults, disabled individuals, and their spouses, children, and survivors. An extensive federal benefits programme, Social Security—officially known in the United States as the Old-Age, Survivors, and Disability Insurance (OASDI) program—is created to partially replace income for retired adults and their spouses, people who have lost a spouse or a qualifying ex-spouse, and people with disabilities. It also provides assistance to the beneficiaries' children under certain circumstances.The maximum benefit is based on your retirement age. For illustration, if you reach full retirement age in 2022 and decide to retire, your maximum benefit will be $3,345. However, your maximum benefit would be $2,364 if you retired at age 62 in 2022. The maximum benefit you could receive in 2022 if you retired at age 70 would be $4,194.

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