How do I find out my Social Security benefit amount?
Most people can receive an estimate of their benefit based on their actual Social Security earnings record by going to www.socialsecurity.gov/estimator. You also can calculate future retirement benefits by using the Social Security Benefit Calculators at www.socialsecurity.gov.
How many years does Social Security count for benefits?
35 years
Social Security benefits are based on your lifetime earnings. Your actual earnings are adjusted or “indexed” to account for changes in average wages since the year the earnings were received. Then Social Security calculates your average indexed monthly earnings during the 35 years in which you earned the most.
How can I check my Social Security benefits online?
Your Social Security Statement (Statement) is available to view online by opening a my Social Security account. It is useful for people of all ages who want to learn about their future Social Security benefits and current earnings history.
Can you retire from a company after 20 years?
If you are offered early retirement by your agency under the Voluntary Early Retirement Authority (VERA), you can retire at age 50 with 20 years of service or at any age with 25. Like a CSRS employee, you can retire at age 62 with 5 years of service and age 60 with 20.
What was the Social Security rate in 2013?
6.2 percent
In 2013, with the higher income ceiling and the return to the 6.2 percent withholding rate, the maximum yearly Social Security tax withholding rises from $4,624.20 (4.2 percent on income up to $110,100) to $7,049.40 (6.2 percent on income up to $113,700).
How much will my Social Security be if I make $70000 a year?
Initial Social Security retirement benefits by age and income level
| Annual Income (Inflation-Adjusted) | Age 62 | 66 Years, 4 Months (FRA) |
|---|---|---|
| $70,000 | $1,695 | $2,312 |
| $80,000 | $1,787 | $2,437 |
| $90,000 | $1,879 | $2,562 |
| $100,000 | $1,970 | $2,687 |
When did Social Security raise the retirement age?
In 1983, Congress passed a law to gradually raise the age because people are living longer and are generally healthier in older age. The law raised the full retirement age beginning with people born in 1938 or later.
Can a lack of earnings affect Social Security benefits?
Lack of a substantial earnings history will cause retirement benefit estimates to be unreliable. Your annual earnings must be earnings covered by Social Security. If you entered 0, we assume you are now retired.
How does the Social Security quick calculator work?
Benefit estimates depend on your date of birth and on your earnings history. For security, the “Quick Calculator” does not access your earnings record; instead, it will estimate your earnings based on information you provide. So benefit estimates made by the Quick Calculator are rough.
What can I do with my social security account?
A free and secure my Social Security account provides personalized tools for everyone, whether you receive benefits or not. You can use your account to request a replacement Social Security card, check the status of an application, estimate future benefits, or manage the benefits you already receive.
