butterfly234 asked:
what determines your social security monthly benefits when you retire. is it the accumulation of all the years you have workedand contributed to social security, or is the most important time period the last 15 years leading up to your retirement.
what determines your social security monthly benefits when you retire. is it the accumulation of all the years you have workedand contributed to social security, or is the most important time period the last 15 years leading up to your retirement.
You would be able to find out more information concerning this from the Social Security Administrations website.
Comment by Rob — February 7, 2010 @ 2:06 am
Your benefits are calculated by using the top thirty five years of your earnings. When you receive your yearly statement that is an estimate assuming you earn the same as the last year shown on your statement.
Comment by Bo — February 7, 2010 @ 5:01 am
it is the accumulation of all the years you have workedand contributed to social security.
Comment by emulwa — February 10, 2010 @ 9:42 am
The computation is based on the 35 years of highest earnings, with earlier years assigned a multiplier based on cost of living. So wages earned long ago are adjusted to today’s dollars.
It is not necessarily true that the last years you work have the most impact on your benefits.
Comment by ninasgramma — February 13, 2010 @ 7:07 am