I filed for benefits at age 66, benefits became effective in February 2020. I am currently receiving the maximum FRA benefit for 2020. I am still working and exceeding the FICA limit. I understand that the maximum benefit will increase in 2021. Since I am still working, will my benefits be recalculated which could allow me to again get the maximum amount in 2021 which I believe is $3,113?

Hi,

Yes, Social Security will automatically increase your benefit rate to include your 2020 earnings, assuming that your earnings in 2020 are higher than one of the previous highest 35 years of wage-indexed earnings on which your current benefit rate is based. Those automated recomputations are normally done annually in the fall, so you likely won't actually see the increase until the latter part of next year. However, Social Security would pay you any back pay that you're due retroactive to January 2021. Alternatively, you could submit proof of your 2020 earnings (i.e. W-2 for wages or Schedule SE for self-employment) to Social Security along with a written request for a manual recomputation.

Best, Jerry