Supplement qustiion

[dave123]

I receive a supplement to my federal pension until I turn 62. The supplement is contingent depending on how much income I have from outside work during the year. At some point (last I heard, it was 19,800 two years ago). After this threshhold, I start losing money from my pension. So, what I do, is I keep my earnings under the threshold so that I don't lose pension money.

Problem is, I can never find the number (it goes up a little every year).

I'm hoping someone here can help me figure out what the threshold is for 2023 so I can see how much time I need to take off before the end of the year.

Thanx!

 

[tsptalk]

I want to say it's $21,240 based on this page...

https://www.ssa.gov/benefits/retirement/planner/whileworking.html#h1

If you are under full retirement age for the entire year, we deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2023, that limit is $21,240.

 

[dave123]

Thanx so much. I think this is my answer. I'm still a little leary as it says "your social security benefits." I wish it said your supplement, but I'm probably overthinking.

 

[evilanne]

It works the the same a SSA. When you retire early under FERS, the supplement is supposed to approximate SS prior to Age 62 when you are 1st eligible for SS. It works the same as those who start SS prior to their Full Retirement Age.
Retirement Earnings Test Exempt Amounts Under full retirement age $21,240/yr.($1,770/mo.) for 2023 & $22,320/yr.($1,860/mo.) for 2024
The annual update is always posted in the same place and it gives the current & next year info, for 2024 https://www.ssa.gov/news/press/factsheets/colafacts2024.pdf (keep the link & just change the year next year when you need 2025 data)