"Excess earnings" are your earnings that exceed the annual exempt amount. (See §1803).
If you are younger than full retirement age (FRA) (see §723.5), your excess earnings are subject to a $1 deduction from benefits for each $2 you earn. In the year you reach FRA, you are subject to a different annual exempt amount, and your excess earnings are subject to a $1 deduction from benefits for each $3 you earn.
Last Revised: Sep. 27, 2005