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If You Worked 30 Years: Social Security will add five zero-income years to reach the 35-year mark. Those zeros lower your average, meaning you'll have a smaller benefit than if you'd had a full 35 ...
Each calendar year, the wages of each covered worker [a] up to the Social Security Wage Base (SSWB) are recorded along with the calendar by the Social Security Administration. If a worker has 35 or fewer years of earnings, then the Average Indexed Monthly Earnings is the numerical average of those 35 years of covered wages; with zeros used to ...
The Social Security Administration averages what you earned during your 35 highest-earning working years. A benefits calculator can give you a rough idea of how much you may get.
It then selects the 35 highest years and calculates your average monthly earnings. ... The average Social Security retirement benefit in November was $1,925.46. But those who do everything they ...
It shows the average monthly Social Security benefit for retired workers at different ages. ... A formula is applied to the inflation-adjusted earnings from the 35 highest-paid years of a worker's ...
The basic idea behind the Social Security formula is that your 35 highest-earning years are indexed for inflation and averaged, and your monthly average earnings is applied to a formula with three ...
If you don't have 35 years' worth of earnings, Social Security will use zeros for the missing years to calculate your average. Lastly, Social Security will apply a formula using bend points to ...
The formula for calculating your PIA is based on the average indexed monthly earnings, or AIME, in your 35 highest-earning years after age 21, up to the Social Security wage base.