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Under terms of the bill, anyone who is a current Social Security recipient or who will turn 62 in 2023 would receive an extra $200 in each monthly check. The bill is timely for a couple of reasons.

Continuing to work, even after retirement, and earning a higher salary can also raise your Social Security benefit amount. Married couples have the additional option of collecting spousal payments, which can also increase Social Security income.

You can get Social Security retirement benefits and work at the same time. However, if you are younger than full retirement age and make more than the yearly earnings limit, we will reduce your benefit. Starting with the month you reach full retirement age, we will not reduce your benefits no matter how much you earn.

How Much Can I Earn and Still Collect Social Security? If you start collecting benefits before reaching full retirement age, you can earn a maximum of $18,960 in 2021 ($19,560 for 2022) and still get your full benefits. Once you earn more, Social Security deducts $1 from your benefits for every $2 earned.

Although his earnings for the year substantially exceed the 2022 annual limit ($19,560), John will receive a Social Security payment for July, August and September.

The Social Security earnings limit is $1,630 per month or $19,560 per year in 2022 for someone who has not reached full retirement age. If you earn more than this amount, you can expect to have $1 withheld from your Social Security benefit for every $2 earned above the limit.

How to get the $16,728 bonus in retirement? Work as long as you can: the later you retire the higher your benefit will be. Remember that 70 is the maximum age.Years worked: If you work less than 35 years you will have a reduction in your SSA check.High salary: with a high salary you will have a high retirement.