Other types of income including pensions, 401(k) plan and IRA withdrawals, severance payments, dividends and interest, and workers compensation are not included in the earnings limitation. The limits are as follows:
If you are between 62 and your normal retirement age, and earn more than $17,640 in 2019 ($17,040 in 2018), your benefit will be reduced $1 for every $2 you earn over that amount.
If you are at or over your normal retirement age, there is no reduction in benefits.
If you reach normal retirement age in 2019, your benefits will be reduced $1 for every $3 you earn over $46,920 ($45,360 in 2018) for all months prior to the month you attain normal retirement age. The earnings limit does not apply beginning with the month you reach normal retirement age.
Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA (Opens in a new Window)/SIPC (Opens in a new Window). UniVest Financial Services is a trade name of UniBank. Infinex and UniBank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of, nor guaranteed or insured by, any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.