Earnings Test

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Earnings Test

In Social Security in the United States, a test to determine whether a person under normal retirement age (between 62 and 67) is eligible for reduced benefits. The test sets two levels of income (which vary year to year); if one's own income is above the lower level but below the upper level, one may receive benefits at a $1 reduction for every $2 in wages. One receives full benefits in later years after one has passed proper retirement age.
References in periodicals archive ?
The complication that arises in applying the earnings tests discussed above is that, in many cases, both spouses in a marriage have their own independent earnings records upon which Social Security benefits can be based.
t]) affects the benefit calculation in three ways: First, there is age of eligibility for OA benefits; second, an individual who claims OA benefits before reaching NRA (and after ERA) will receive reduced benefits for early claiming and an individual who delays claiming until after reaching NRA will have her/his benefits increased by actuarial adjustment factors; third, earnings tests for OA benefits are age specific.
A frequent topic discussed in this literature is the effect of Social Security earnings tests on labor force participation.
The Senior Citizens' Freedom to Work Act (SCFWA) of 2000 repealed the Social Security earnings tests for individuals between normal retirement age (NRA, which currently ranges from age 65 to 67 depending on year of birth) and age 70.
The multiple regression framework also shows how democracies and nondemocracies are quite similar in terms of their use of retirement tests, earnings tests, or in their splitting of the payroll tax between employer and employee.
These older workers can now continue to work beyond their NRA and receive their full SSA retirement benefits, without suffering the prior "take-back" effects flowing from the repealed earnings tests for eligibility.
His domestic agenda, as he outlined it before the ASAE audience, is to promote choice and opportunity through * education and educational flexibility, * home ownership for low-income people, * business enterprise zones, * anti-discrimination laws, * community opportunity areas, * social security earnings tests, and * anti-crime efforts.
While final legislation is expected within the next few weeks, interested parties are still attempting to reach agreement regarding the rate impact of a full transition to market pricing, the application of earnings tests to protect from over-earnings at the utility, as well as the method of securing the lower of market prices and the regulated security plans for Ohio consumers.
The earnings tests are made on the basis of absolute numbers, regardless of whether either or both are positive (profits) or negative (losses).
3 million, reflecting primarily a favorable change in the supply mix caused by less purchased water needed to replace groundwater supply lost, as discussed above; and (ii) a decrease of $866,000 for the six months ended June 30, 2006 in the provision for supply cost balancing accounts reflecting primarily the elimination of the earnings tests by the CPUC.
For the second and the third year of this three-year General Rate Case, the CPUC approved an annual increase of approximately $1,878,400 and $2,333,700, respectively, subject to certain earnings tests.
The bank group recently allowed amendments to the facility, mainly to its numerical covenants, to accommodate potential violations stemming from the effects of large nonrecurring losses from discontinued operations on its capital and earnings tests.