Lawmakers weigh ending the Social Security earnings clawback for working retirees
Congress is considering the Senior Citizens' Freedom to Work Act to repeal the Retirement Earnings Test, which currently reduces Social Security benefits for some older retirees who continue to work and earn above set thresholds (about $24,480 for those reaching NRA in 2027+; higher thresholds apply for earlier retirees). Proponents say scrapping RET would simplify retirement and let beneficiaries work without losing benefits, while critics warn it could strain the Social Security Trust Fund and hasten future cuts (with estimates of a potential 24% benefit reduction by 2032). The piece notes various planning implications for retirees and suggests prudent financial planning as changes loom.