Q. I am a 64-year-old FERS employee with 22 years of service, planning on retiring in June. I also planned on having my Social Security start in July. Will the Social Security income cap be considered on my year to date earnings, or does Social Security only consider earnings from the start of your Social Security payments?
A. The Social Security benefit for anyone who retires during a year will be determined by the “first year rule.” To learn how that would affect you, go to www.ssa.gov/retire2/rule.htm.