Early Social Security

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Q. If I continue to work with the federal government at age 62 and beyond, can I still collect early Social Security at age 62? And stop paying Social Security?

A. While you could apply for a Social Security benefit at age 62, because you had earnings from wages or self-employment, you’d be subject to the Social Security earnings test. The limit for 2012 is $14,640. If you are under full Social Security retirement age, your Social Security benefit would be reduced by $1 for every $2 above that limit. Further, regardless of your age, as long as you have earnings from wages or self employment, you will have to pay Social Security taxes.

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Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

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