How Is Social Security Calculated

Grundig Serial Number Code Calculator V1.00 Download. Fabric Of The Cosmos Epub Downloader. The Social Security calculator is great for giving you a chance to help you make sense of the amount of retirement wage you’ll get at various ages so you can decide when you ought to claim Social Security. You may be thinking that you would like to retire early at the age of 62 and the social security calculator will allow you to determine if that is feasible or if you are better off waiting until you reach age 65 or even if would you be able to hold up until age 70 with a specific end goal to get the biggest conceivable month to month benefit.

We base Social Security benefits on your lifetime earnings. We adjust or “index” your actual earnings to account for changes in average wages since the year the earnings were received. Then Social Security calculates your average indexed monthly earnings during the 35 years in which you earned the most. In order to understand how Social Security benefits are calculated, you need to be familiar with two terms: “full retirement age” (FRA), and; “primary insurance amount” (PIA). Your full retirement age depends on the year in which you were born (see table below). Your primary insurance amount is the amount.