We recently decided to eliminate our current procedures for questioning corporate officers’ and self-employed individuals’ allegations of retirement. We have found that, over the long term, questioning retirement allegations has made no significant difference in Trust Fund outlays. By eliminating our questionable retirement procedures, we will reduce the public burden, save our scarce administrative resources, and increase the efficiency of the retirement determination process.
Since we are eliminating our current procedures for questioning corporate officers’ and self-employed individuals’ retirement allegations, the SSRs that relate to those procedures are no longer needed. Therefore, we are rescinding SSR 66-18c and SSR 91-1c as obsolete.
This is an open invitation to fraud. Self employed individuals between 62 and full retirement age can make completely transparent arrangements to pretend to be retired while continuing to work full time. Social Security will give them early retirement benefits without any questions. However, if you are an employee, forget it. You either retire for real or suffer major reductions in any early retirement benefits. I know it's been almost impossible to police this but completely giving up!