Ask Larry

Are Social Security's Online Estimates Incorrect?

I am very very much a numbers guy and think I have uncovered a SERIOUS flaw in the social security calculator on MY My numbers prior to full retirement look correct, FRA looks correct, age 70 looks correct, but the numbers it is projecting for age 67, 68, 69 are flat wrong. If you go into system and key in something like age 66 and 6 months and then 67 and 1 month, it projects the same amount. It is not changing on a monthly basis. this can impact peoples decisions.

Hi. I have no way of knowing if your benefit estimates on Social Security's website are accurate, but what you should know is that if a person claims benefits between their full retirement age (FRA) and age 70, their benefit rate is initially only credited with the delayed retirement credits (DRC) they accrued through December of the year prior to the year they claim benefits (

So, for example, say that a person claims benefits at age 68 in April 2023. That person's initial benefit rate would only include the DRCs they had accrued through December 2022. The DRCs they earned for January through March of 2023 couldn't be used to increase their benefit rate until effective with their benefit payment for the month of January 2024. Thus, this person's benefit rate would initially be the same regardless of whether they claimed benefits effective with January 2023, December 2023, or any month in between because they couldn't be credited with the DRCs earned in 2023 until their benefit payment for January 2024.

It sounds like you may want to strongly consider using our software ( to get accurate benefit estimates and to fully compare and analyze all of your options so that you can determine your best strategy for maximizing your benefits.

Best, Jerry

Apr 29 2023 - 9:29pm
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