Social Security Benefits
Calculating Your Monthly Benefit
To estimate the monthly benefit you'll receive at full retirement age, the Social Security Administration (SSA) uses your earnings history to calculate an average indexed monthly earnings (AIME). This is a measure of your lifetime earnings, adjusted for inflation. The SSA then applies a formula to your AIME to determine your primary insurance amount (PIA). Your PIA is the basis for your monthly benefit.
Factors That Affect Your Benefit
Several factors can affect the amount of your Social Security benefit, including:
- Your age at retirement
- The number of years you've worked and paid Social Security taxes
- Your average indexed monthly earnings
- Whether you're eligible for any special benefits, such as survivor benefits or disability benefits
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