Also called: RET, annual earnings test
If you collect Social Security before full retirement age and still work, SSA withholds $1 of benefits for every $2 earned above an annual limit ($1 for every $3 in the year you reach FRA).
Only wages and net self-employment earnings count; pensions, investment income and IRA withdrawals do not. The test ends the month you reach full retirement age.
Withheld benefits are not lost. At full retirement age SSA recalculates the benefit upward to credit the months that were withheld.