ABSTRACT

Social Security Retirement Earnings Test (RET): Earnings Exemption for COVID-19- Related Work Response [Updated September 28, 2020]   [open pdf - 638KB]

From the Document: "In response to the Coronavirus Disease 2019 (COVID-19) outbreak, some state and local officials (e.g., New York State) have called on retired health care workers to return to work and help treat the influx of patients. In addition to health care professionals, other retired workers--including certain public safety officers, emergency management personnel, scientists, researchers, and individuals--who had claimed Social Security benefits, may also go back to work to meet the essential needs of the American public during the COVID-19 outbreak. If those retired workers are receiving Social Security benefits and are under the Social Security full retirement age (FRA; between 65 and 67, depending on year of birth), the Retirement Earnings Test (RET) may reduce their Social Security benefits if their earnings exceed certain annual thresholds. (Beneficiaries do recoup their benefits when they reach FRA.) Therefore, in response to RET concerns that may discourage retired health care workers from providing needed services to the increasing number of COVID-19 patients, lawmakers have proposed to exempt certain earnings in 2020 from the RET."

Report Number:
CRS Insight, IN11352
Author:
Publisher:
Date:
2020-09-28
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
Help with citations