Like most other people, I'm trying to determine the right time to claim my Social Security benefit. At the end of 2022, I will have 29 years of substantial earnings for WEP calculation purposes. Based on my current income, I think I will have earned enough to qualify for the 30th year at the end of May 2023. My questions... Where can I find the amount that will qualify for substantial earnings for 2023? (the chart on the SS sight only goes up though 2022). And if I apply for benefits in June 2023 (assuming the my earning will have passed the threshold), will the partial earnings for 2023 count as the 30th year or will I have to wait until the end of the year to apply? Thanks in advance for your response.

Hi. The substantial earnings amount, also known as a YOC (year of coverage), for purposes of the Windfall Elimination Provision (WEP) in 2023 is $29,700. That amount can be found in the following section of Social Security's operations manual: https://secure.ssa.gov/apps10/poms.nsf/lnx/0300605362.

You can apply for benefits effective with any month that you're eligible, but you can't be credited with a YOC for the year 2023 until effective with January 2024. If you claim benefits in 2023, your initial benefit rate would be calculated using the number of YOCs you've earned through 2022. Your benefit rate could then be recomputed effective with January 2024 to credit you with a YOC for 2023.

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Best, Jerry