shoop - 3/18/2024 13:19

How long do they keep telling up how much you’re going to get??  In my case, once I signed up to start collecting benefits, estimated amount(s) disappeared.  SS will recalculate each year going forward IF you continue to pay into (if you have W2 wages or Self Employment tax, as an example). If a more recent AIME is greater than another previously used year (you will hear they use the highest 35), then a previously used year will be dropped for the most recent higher number.  Which in turn they will re-calculate your benefit. 

AIME = Average Indexed Monthy Earnings, used to calculate your PIA (Primary Insurance Amount), that is used for your FRA (Full Retirement Age) benefit.  PIA, is what spousal benefits are calculated off, too. 

Here's an example:  if your PIA is $2000 and full retirement age is 67, @ age 62 your SSB (Social Security Benefit) would be reduced by 30% ($1400 a month), @ age 65 reduced by 10% ($1800 a month), @ age 67 $2000 a month and @ 70 delayed collection 124% of PIA ($2480 a month).  Spousal benefit would start 1/2 of PIA, with reduction for early collecting BUT no increases for delayed collecting. Spouse gets bigger of their own SSB or 1/2 of spouse.