Ask Larry

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

Hi Mark. Yes. Your current and future earnings would definitely replace any zero earnings years that are included in your 35 year average, which will increase your Social Security retirement benefit rate at least somewhat. However, your earnings in the years prior to the year you turned age 60 are wage-indexed, so your current and future earnings would only replace those years if your new earnings are higher than the indexed earnings amounts (

The benefit calculator included in our software ( handles wage indexing, so you may want to consider using the software to calculate how much, if any, your current and future earnings would increase your benefit rate.

Best, Jerry

Aug 5 2022 - 11:54am
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