Coming of Age

Council on Aging of West Florida has forged partnerships with Ballinger Publishing and WUWF-TV to create Coming of Age, a seniors oriented lifestyle and informational print magazine and television program. Both formats cover varied topics of interest including travel, "fun things to do," and community involvement opportunities in addition to legislative issues and health related information.

Coming of Age is published quarterly. To read one of the feature articles from the current issue, click here. (See also our last issue).

Coming of Age TV airs on WUWF-TV, Cox Cable Channel 4, on Mondays at 7 p.m. and Tuesdays at 8 a.m. The program can also be viewed at the same times at www.wwuwf.org. New shows air weekly.

For more information on Coming of Age, please contact Jeff Nall, Vice President of Marketing Communications at jnall@coawfla.org or 432-1475.

How Work Affects Your Social Security Benefits

By Denice Hair, Staff Assistant, Pensacola Social Security Office

A person can get Social Security retirement or survivors benefits and work at the same time. However, depending on a person’s age, benefits could be subject to an Earnings Test and reduced if earnings are more than certain amounts.

• For individuals younger than full retirement age all year, there is a limit to how much they can earn and still receive full Social Security benefits.
  • In 2008, persons under full retirement age for the entire year can earn up to $13,560 during the year with no effect on their Social Security benefit. (See the full retirement age chart below)
  • If a person earns over the yearly limit, one dollar in benefits will be withheld for every two dollars earned over the limit.
• A modified test applies for the year an individual reaches full retirement age. The modified test only applies to earnings in months prior to attaining full retirement age.
  • Individuals reaching full retirement age in 2008 can earn up to $36,120 during months prior to the month they reach full retirement age with no effect on their Social Security benefit.
  • If a person earns over the yearly limit in months prior to the month they reach full retirement age, one dollar in benefits will be withheld for every three dollars they earn over the limit.
• A person at full retirement age or older can work with no effect on their Social Security benefit.

NOTE: Different rules apply if you receive Social Security disability benefits or Supplemental Security Income payments.

What income counts ... and when do we count it?

If you work for someone else, only your wages count toward Social Security's earnings limits. If you are self-employed, we count only your net earnings from self-employment. We do not count income such as other government benefits, investment earnings, interest, pensions, annuities and capital gains.

Special rule for the first year you retire

Sometimes people who retire in mid-year already have earned more than the yearly earnings limit. That is why there is a special rule that applies to earnings for one year, usually the first year of retirement. Under this rule, you can get a full Social Security check for any whole month you are retired, regardless of your yearly earnings.

Should you report changes in your earnings?

We adjust the amount of your Social Security benefits in 2008 based on what you told us you would earn this year. If you think your earnings for 2008 will be different than what you originally told us, let us know right away.

Contacting Social Security

Our website is a valuable resource for information about all of Social Security’s programs. There are a number of things you can do online. In addition to using our website, you can call us toll-free at 1-800-772-1213. We can answer specific questions from 7 a.m. to 7 p.m., Monday through Friday.

Full retirement age

The “full retirement age” is 65 for people who were born before 1938. But because of longer life expectancies, the Social Security law was changed to gradually increase the full retirement age until it reaches age 67. This change affects people born in 1938 and later. Check the following table to find your full retirement age.

To arrange a tour of the Council on Aging of West Florida’s Adult Day Health Care Center, the only facility of its kind in the area licensed by the State of Florida, or for more information on Day on the Go, call Sandie Holtry at 432-1475 extension 180.