Ben is age 64 in 2018. He began receiving Social Security payments of $18,000 at age 63 and continues receive that amount in 2018. His normal retirement age is 67. Ben has been working part time as a consultant and earned $20,000 in 2018. What, if any, reduction will be applied to his 2018 annual Social Security benefits?

$1,480

$1,108

No adjustment

$1,250