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Social Security Earnings Test to be Eliminated

Wed, 03/08/2000 - 1:00am — Karen Stevenson
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HR 5, The Social Security Earnings Test Elimination Bill, is on a fast-track through Congress. It has been unanimously approved in the House and will now be considered by the Senate. President Clinton has also indicated his support for the legislation. This bill would repeal the Social Security earnings test which currently results in the loss of $1 of benefits for every $3 of earnings over $17,000 a year for Social Security beneficiaries aged 65-69. This repeal would mean all Social Security beneficiaries could work after retirement without any concern about losing some of their Social Security benefits.

HR 5, The Social Security Earnings Test Elimination Bill, is on a fast-track through Congress. It has been unanimously approved in the House and will now be considered by the Senate. President Clinton has also indicated his support for the legislation. This bill would repeal the Social Security earnings test which currently results in the loss of $1 of benefits for every $3 of earnings over $17,000 a year for Social Security beneficiaries aged 65-69. This repeal would mean all Social Security beneficiaries could work after retirement without any concern about losing some of their Social Security benefits.