Q. I have a rather complicated question concerning my FERS retirement. I took an early retirement under FERS at the end of 2009. I retired on Dec. 31, 2009 at the age of 59. Because of the pay periods in 2009, the last pay period of December actually ended on Jan. 2, 2010. This pay period therefore became pay period 1 for 2010. Therefore, my last pay check and annual leave show as earned income in 2010.
My retirement date started on Jan.1, 2010. Since my last check and annual leave earnings show as earned in 2010, do they count towards the earnings ceiling of $14,100 for the Social Security component of my retirement in 2010? Between my last salary and annual leave, I earned over $20,000 for 2010. If these earnings count towards the Social Security earnings limit, when do I pay back the earnings to the Social Security Administration.
A. You’ll find the information you need to answer your question at www.socialsecurity.gov/pubs/10069.html.