This Google™ translation feature is provided for informational purposes only.
The New York State Office of the State Comptroller's website is provided in English. However, the "Google Translate" option may help you to read it in other languages.
Google Translate™ cannot translate all types of documents, and it may not give you an exact translation all the time. If you rely on information obtained from Google Translate™, you do so at your own risk.
The Office of the State Comptroller does not warrant, promise, assure or guarantee the accuracy of the translations provided. The State of New York, its officers, employees, and/or agents are not liable to you, or to third parties, for damages or losses of any kind arising out of, or in connection with, the use or performance of such information. These include, but are not limited to:
- damages or losses caused by reliance upon the accuracy of any such information
- damages incurred from the viewing, distributing, or copying of such materials
Because Google Translate™ is intellectual property owned by Google Inc., you must use Google Translate™ in accord with the Google license agreement, which includes potential liability for misuse: Google Terms of Service.
FAQs
The full retirement age is 66 if you were born from 1943 to 1954. The full retirement age increases gradually if you were born from 1955 to 1960 until it reaches 67. For anyone born 1960 or later, full retirement benefits are payable at age 67.
What is the lowest amount you can get in Social Security? ›
Social Security's special minimum benefit pays at least $49.40 per month in 2023 and $50.90 in 2024. Social Security's special minimum benefit tops out at $1,033.50 per month in 2023 and $1,066.50 in 2024. You'll receive 100% of the benefit if you file at full retirement age or later.
How much income can I make and still collect Social Security? ›
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 2024, that limit is $22,320. In the year you reach full retirement age, we deduct $1 in benefits for every $3 you earn above a different limit.
How do I qualify for the $16728 Social Security bonus? ›
Have you heard about the Social Security $16,728 yearly bonus? There's really no “bonus” that retirees can collect. The Social Security Administration (SSA) uses a specific formula based on your lifetime earnings to determine your benefit amount.
Is it better to collect Social Security at 62 or 67? ›
Your full retirement age is 67, and your monthly benefit that starts at full retirement age is $2,000. If you start to get benefits at age 62, we'll reduce your monthly benefit 30% to $1,400 to account for the longer time you receive benefits.
At what age is Social Security no longer taxed? ›
This meant that as benefits rose, more recipients crossed over the thresholds. Now 56 percent of beneficiaries pay income tax on a portion of their benefits, sometimes as much as 85% if their total income exceeds upper thresholds. There is no age at which you will no longer be taxed on Social Security payments.
What income counts against Social Security? ›
When we figure out how much to deduct from your benefits, we count only the wages you make from your job or your net earnings if you're self-employed. We include bonuses, commissions, and vacation pay.
What is the 5 year rule for Social Security? ›
You must have worked and paid Social Security taxes in five of the last 10 years. If you also get a pension from a job where you didn't pay Social Security taxes (e.g., a civil service or teacher's pension), your Social Security benefit might be reduced.
Is Social Security based on last 3 years of work? ›
Social Security bases your retirement benefits on your lifetime earnings. We adjust or “index” your actual earnings to account for changes in average wages since the year the earnings were received. Then we calculate your average indexed monthly earnings from your highest 35 years of earnings.
What is the average Social Security check at 62? ›
According to the SSA's Office of the Actuary, retired-worker beneficiaries who were 62 years old in December 2023 received an average check of $1,298.26.
You can get Social Security retirement benefits and work at the same time before your full retirement age. However your benefits will be reduced if you earn more than the yearly earnings limits.
At what age can you claim the highest possible Social Security benefit? ›
To receive the highest Social Security payout, you must retire at 70 and have at least 35 working years, earning at least the maximum income amount for the year. Claiming benefits early means less money.
Who is eligible for the Social Security bonus? ›
There is no specific “bonus” retirees can collect from the Social Security Administration. For example, you're not eligible to get a $5,000 bonus check on top of your regular benefits just because you worked in a specific career. Social Security doesn't randomly award money to people.
What is the maximum Social Security benefit at age 70 in 2024? ›
So if you earn the "magic amount" for 35 years, will you be guaranteed to receive the maximum Social Security benefit when you retire? No. Hitting the earnings thresholds isn't enough by itself. The maximum $4,873 monthly benefit in 2024 is only paid to individuals who wait until age 70 to retire.
