Senior Citizen's Freedom to Work Act of 2000

(redirected from Senior Citizens Freedom to Work Act of 2000)

Senior Citizen's Freedom to Work Act of 2000

Legislation in the United States that made it easier for persons to continue to work between 65 and 69. Prior to its passage, persons in this age group had their Social Security benefits reduced significantly (and, in some circumstances, almost eliminated) if they continued to work after beginning to collect from the program and earned more than $17,000 per year. This was considered to be detrimental to middle class persons who continued to work. The Act eliminated this penalty.
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The "file and suspend" provision of the Senior Citizens Freedom to Work Act of 2000 notes that "a spouse can take 50 percent of the other spouse's social security benefit if they themselves are of normal retirement age." So a husband can elect to receive half of his wife's benefit at normal retirement age when he defers his own benefit.
Once the normal retirement age is reached, the Senior Citizens Freedom to Work Act of 2000 permits an unlimited amount of FICA wages without penalty.
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