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Higher Earnings for Early Retirees Without Losing Benefits

This act increases the amount early retirees can earn before their Social Security benefits are reduced. Starting in 2024, this limit will rise to $30,000 annually, allowing individuals on early retirement to earn more without fear of losing part of their benefits. This change aims to support seniors' financial independence.
Key points
Annual earnings limit for early retirees increases to $30,000 starting in 2024.
Ability to earn more without reducing monthly Social Security benefits.
Changes will not negatively impact Social Security program stability and may increase FICA tax collections.
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Additional Information
Print number: 118_HR_1783
Sponsor: Rep. Grothman, Glenn [R-WI-6]
Process start date: 2023-03-24
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Senior Independence Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1783.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-03-24.

What are the main provisions?

Key points include:

  • Annual earnings limit for early retirees increases to $30,000 starting in 2024.
  • Ability to earn more without reducing monthly Social Security benefits.
  • Changes will not negatively impact Social Security program stability and may increase FICA tax collections.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Grothman, Glenn [R-WI-6].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Work and Welfare.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

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