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RS 01402: Wage Exclusions

Effective Dates: 11/18/2009 - Present

TN 10 (09-90)

Citations:

Act, Sec. 209(a)(4) .

A. BACKGROUND

The Social Security Amendments of 1983 removed the exclusions in sec. 209(b)(1) and (c) of the act of 1982 for payments made “on account of retirement” . However, they were added to sec. 203(f) of the act as a wage exclusion for purposes of the annual earnings test (RS 02505.240B.55).

B. POLICY

1. Effect on Coverage and Benefit Computation

The wage exclusion “on account of retirement” no longer applies for coverage and benefit computation purposes effective with payments made after December 31, 1983.

2. Wage Exclusion Status

Retirement payments are wages unless they can be excluded under sec. 209(a)(4) of the act as payments from tax-exempt trusts or from a qualified deferred compensation plan.

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RS 01401: Wages
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RS 014: Wages
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RS 01403: Wage Evidence
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