Fixed Income

Why Did I Start Getting More Money from Social Security?

All people who work at jobs that are covered by Social Security (and almost all jobs are) must have payroll taxes deducted from their paychecks.
0
Why Did I Start Getting More Money from Social Security?
Some people have received more money from social security. trekandshoot/Shutterstock
Tom Margenau
|Updated:
0:00

I got a letter recently from the Social Security Administration. It told me that my monthly Social Security benefit was going up by a few bucks each month. And why was that? As the letter explained, they finally got around to factoring in my 2024 earnings into my benefit calculation. Those additional earnings boosted my monthly Social Security check. The letter said I would be getting a one-time check to pay me back to January 2025 (when the increase for 2024 earnings goes into effect). My ongoing monthly benefit would be increased by the small amount my 2024 earnings earned me.

And just coincidentally, the same day I got that letter from the SSA, I also got an email from a reader asking me this question: “I’m 76 years old and just went back to work. Do I still have to pay Social Security taxes even though I’m already getting Social Security benefits? And if yes, will my current earnings increase my Social Security benefit?”

Tom Margenau
Tom Margenau
Author
Tom Margenau worked for 32 years in a variety of positions for the Social Security Administration before retiring in 2005. He has served as the director of SSA’s public information office, the chief editor of more than 100 SSA publications, a deputy press officer and spokesman, and a speechwriter for the commissioner of Social Security. For 12 years, he also wrote Social Security columns for local newspapers, and recently published the book “Social Security: Simple and Smart.” If you have a Social Security question, contact him at [email protected]