For millions of retirees, Social Security makes up the largest share of their retirement income. The majority pays no federal income tax on their benefits. But if you have income over certain thresholds, your benefits could be taxable. This is a separate issue from the earnings limit if you work and receive Social Security benefits. Ask your employer for our tip sheet on Social Security and Work. Also check out www.aarp.org/retirement for resources to help you plan for retirement.
This tip sheet is intended for:
- Benefits managers designing a compensation and benefits package
- Human resource leaders
- Employees in the U.S. curious about social security benefits and taxes
Use this tip sheet to:
- Navigate social security benefits and tax rules