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Higher Earnings for Early Retirees: New Social Security Rules

This act increases the amount early retirees can earn without reducing their Social Security benefits. Starting in 2023, this limit will rise to $30,000 annually, allowing retirees greater work flexibility. These changes will not negatively impact the solvency of the Social Security program.
Key points
Annual earnings limit for early retirees increases to $30,000 starting in 2023.
Allows individuals to earn more without losing Social Security benefits.
Changes may potentially increase FICA tax collections, supporting the Social Security program.
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Additional Information
Print number: 117_HR_6925
Sponsor: Rep. Grothman, Glenn [R-WI-6]
Process start date: 2022-03-03