Q &A: Do Social Security Benefits Continue to Increase As Long As You Work?
Q: I am divorced and will be 61 years old later this month. I am eligible to retire now as a federal employee under FERS with almost 21 years of service. I would receive a FERS supplement until the age of 62, when I could start receiving Social Security benefits. I am considering taking a full time faculty job that I can do from home, but pays significantly less than my current position ($48,000 less). Health issues are a primary motivation. I would have the flexibility to work around my health issues (i.e., get more rest when needed, etc.). If I were to do this and continue in this new job, would my Social Security benefits continue to increase until I'm 66 years and 4 months old, despite the pay reduction? Would I be better off hanging in there with my current job and retiring at 62? Can I receive the federal FERS supplement for that one year and then just not apply for Social Security? A: Thank you for your service. It's always exciting while a little u