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Calculating Retirement Benefits

Will My PIA Be Increased By The 8.7% COLA Even If I Only Earned $3K In 2022?

Hello Larry thanks for what you do!
Question 1: I am now 62 years old and will turn 63 in January 2023, will my PIA amount be increased by COLA 8.7 % plus 5 % = 13.7 % total even though I have only earned 3 K dollars in 2022? I have not applied for benefits yet. Question 2: what does the sentence on social security statement mean "if you continue to work and earn X amount of dollars your benefit will be " does that mean I lose benefits by not working beyond 62 ? Does my current PIA get reduced? I already have my high 35 years worked .

Friday, November 18, 2022 - 12:27

Is My Understanding Correct?

I think I understand the following:
At age 70, take my fra pia and multiply by last 4 colas.
Multiply that number by 1.32 to apply drc for 4 yrs.
The result should be my benefit if I didn't work after fra.(66)
Is it possible to get rule citations in case I need to educate ss ?

Thursday, November 3, 2022 - 17:17

Will The Contributions From My Part Time Work Increase My Benefit Rate When My SSDI Turns Into Retirement?

Started receiving SSDI in my late 30s. I did a trial work period and then kept a part time, 12 hrs a wk, job while collecting benefits. Social Security taxes were deducted from pay for 5yrs. What happens to those contributions? Will they be included in my Social Security benefits when SSDI turns into retirement Soc Sec.? Will it increase the amount of my retirement Social Security?

Sunday, October 23, 2022 - 12:45

Will Social Security Recalculate My Benefit Rate Since I'm Earning More Now Than I Did In In Some Of The Years They Used To Calculate My Current Rate?

I delayed drawing my SS until age 70. I have continued to work an would like to know if they will recalculate my 35 years to include my wages now. I earn. much more than some of the years they calculated my rate on. Hope you can help with this as I get different answers from SS. Thanks, Carol

Sunday, August 7, 2022 - 13:57

Will My Current Earnings Replace Lower Years And Increase My Benefit Amount?

Hello Larry, I have several years of $0 to $3,000 of earnings within my 35 year base period. I have started drawing my benefits last year at 681/2. I continue to work part time earning approximately $12,000+ annually. Will my current earnings offset those years of low income and readjust my monthly benefits?
Thanks, Mark

Friday, August 5, 2022 - 11:54

Should Social Security Recalculate My Benefit Rate If I Earn More Than I Did In One Of My Previous Highest 35 Years Of Earnings?


I have a question regarding working after reaching FRA while collecting social security benefits regarding whether benefits increase due to higher current earnings than in the 35 best years used to calculate benefits in 2020.

Thursday, June 23, 2022 - 14:10

Can I Improve My Situation By Giving Myself A Salary?

I am 74 ( born 1947) and have not contributed certain years therefore have gaps, maybe 7 or 8 years where i made no contribution to social security
i am still working part time and can give myself a salary and pay into social security
My understanding is that i still can improve my situation ( i get only $1370 a month ) by filling the years of no contribution.
My accountant doesn't think so, thinks it is a waste to contribute after 70.
What is your understanding?

Friday, June 17, 2022 - 13:04
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