?? Work at Pickup Points � Flexible schedule

Former SSA Insider EXPLAINS: How YOUR Social Security benefits are CALCULATED

Dr. Ed Weir, PhD, Former Social Security Manager 32 views

Download Video

Comments

what was you income from managers position
Comment from : @frankbetterton

Again, this whole apparatus should be common knowledge As well as most civic methods for determining preparedness Thanks for dedication and service
Comment from : @TheWorldBelow360

Inflation doesn't discriminate COLA Social Security Benefits increase based on a percentage of inflationbrbrThis compensates the wealthier wage earners with more money than the poor against inflation Because prices increase the same for everything While the poor; receiving the same percentage of increase Actually receive less money against inflation than the wealthiest person doesbrbrTherefore it is discriminatory
Comment from : @victorwitness7414

I read you have 3 years 3 months and 15 days to correct your work record on any given year! brBecause I have a zero for 2023, I need to prove income that year! With 1099 It’s early 2025 so still time brShould I fix this now or closer to 70 ? brOr ??? ❤
Comment from : @robinsmith8846

Thanks Dr Ed I'm figuring out so much for a widow
Comment from : @Pennyminatures

What a scam!
Comment from : @zrtwooo

Good afternoon I do not know how they calculate my ssdi benefit ?brMy income was over $50000 a year
Comment from : @goitomabay2211

I am retired (6 months ago) and only receive $1,077 a month Can I pay into SS to increase my monthly benefit?
Comment from : @kevinkoestler

What inflation adjuster do the use for your 35??? I made 480 in 1988 what cpi do they use is it the national which is 267( I used what one dollar in 1988 is worth in 2024)???
Comment from : @brucedavis3816

started my ss benefits at 62 /71 now receiving 518 sound correct ?
Comment from : @dennismcglathery1671

I served over 6 years active duty in the military, any added benefits ? I have already filed for retirement as I turn 62 in 3 months Thanks
Comment from : @4700_Dk

How do I know if SS calculated my AIME and bend points correctly? I don't see that in the SS website
Comment from : @andrewm7706

Do they base your benefits on your last year of income? 😢
Comment from : @karlbryant5706

social security just last week told me it’s top br30 years now not top 35?
Comment from : @PaulsPatio

I’m weird too I just manually computed my AIME, as well I know Goofy
Comment from : @TedWesterfield

So if I claim at 68 ,and keep working for same wages,would my benefit keep increasing as if l hadn't claimed till I was 70 ?
Comment from : @ralphbischoff6979

I received an overpayment notice I just got one of those letters yesterday They said since I made so much in 2023, I need to repay all of the payments from may-december My question is, The money I made in 2023 was PRIOR to me applying for and receiving my ssa benefit I thought it would not count since I made that money before I even applied for ssa? Am I wrong? Even on my 1099k form, it shows my income from may -december at $0
Comment from : @Squddle

Not really interested in this topic, but found you to ask about how Earned Income is deducted while you’re taking social security benefits I’m thinking about retiring March 2026 What if I took SSB January 2026 I KNOW I won’t make the Earned Income limit of about $24K in 3 months However, if the Administration pro rates my earnings monthly, I would definitely have to give a few sheckels back Any thoughts?
Comment from : @fuz4623

I only have 28 years of work How bad is the 7 non working years going to hurt me?
Comment from : @gilllawson2214

Sounds like a silly question When I look my social security Earnings Record there are two columns Taxed Social Security Earning and Taxed Medicare Earnings When I compare those numbers for a specific year (2010 for example), they do not match what's on my tax return (or W2) So how do I know if the SS office has my correct earnings AND more importantly, what number on my W2 or tax return should I use to compare to what I see on the ssagov website and if it's correct?
Comment from : @TheK9Shepherd

Does AIME calculation start at age 22? This would exclude military service and paying into SSA starting age 18 in 1989 Otherwise, SSDI would be less than 35
Comment from : @aconsideredmoment

What if someone only worked 20yrs? Ex: stay at home mom or trophy wife
Comment from : @jonathancrocker3579

What if you only have 25 years of earnings because you retired to South America at the age of 47? Would you have 10 years of zeroes averaged in to get to the 35 years?
Comment from : @GOA-tani

High 35, but how are those years indexed - heard the most recent years don’t get indexed?
Comment from : @Dave--gp1qx

Since someone not born in us, only work 10yrs, why 35vyrs for this person?
Comment from : @nisaryousafi5122

Didn’t they change the law at one time so you could only correct the most recent 10 years of earnings?
Comment from : @Dave--gp1qx

I wish the SS statement would show your calculated AIME Is that available at the SS web site?
Comment from : @ItsEverythingElse

I manually inputted all my income for the past 50 years into the MY Social Security online calculator using the income from their website will the results be accurate?
Comment from : @miketony8152

AIME and the Bend Points Not just a long-hair band from the 80's ! Ha ha Ciao
Comment from : @ButcherBird-FW190D

Good video, lots of good information
Comment from : @joeo8396

Great video!!
Comment from : @UsualSuspect404

Thank Ed , for all the outstanding advice and informative information , You are truly appreciated for helping the American People , God bless You and your YouTube Channel 🙏
Comment from : @samuelcabrera5758

👍
Comment from : @dongkwon1242

Dementia Alzheimer's is Not a disability or is it a case by case basis We never applied
Comment from : @victorialarkin5802

how can I tell what my earnings were 40-50 years ago, I have no records I toss out my tax records, every 3-4 years I never saved any W-2s or 1099s
Comment from : @kennethflood2849

Dr Ed: Curious on what you think of using the software that you can download from the SSA of which you can input your earnings over the years and use it as "predictor" tool as my Bend Point is Year 2029 (turn 62 in 2029) I downloaded the 2023 SSA Trustee Report - which provided the "out-year" tables (high/low/intermediate earnings limits and bend points) and that matches into the software as Alt 1 Alt 2, and Alt 3 I also mixed and matched their predicted COLA's in the software (alt 1, alt 2, alt 3) What you haven't said is that when you call SS Admin - their numbers for keep working assumes "zero" COLA and "zero" increase in the earning limit above the current year - it cuts off at $162,200 You can say you make $162,300 and the "dial" doesn't move as to any more increase in your PIA (Thereby saying the earn limit and your max salary for that limit is at $162,200 forever and the bend points for 2023 are also forever!!) That is so false, in my opinion and after I used this software with my own earnings , I will never call them up again - as I matched their numbers with the SSA downloaded software And the software does have the 4th option - no COLA/no increase in earnings limit- which is the match to what the SSA will tell you I used Excel after understanding how the software works and ran my future calculations using the correct wage index number for the year of interest and getting all my 37 years of earnings inflation adjusted and got my best 35 average (AIME) My excel calculations match the software exactly It is interesting to see how the max person can get $4555 this year monthly I even did that by Excel and thru the downloaded SSA software That would be a good video , by the way, for you to show people !!
Comment from : @nicholasrunowich371

Xlnt commentary and knowledge and informative Thanks🇺🇲🗽⚖️
Comment from : @glrespicefinem3759

Is there a doctor in the house? I had a question, oh, wise one Is there any benefit to working to 70 for the widow's benefit? I just heard that the widow only gets to FRA of the spouse's amount Is this true? Of course theirs is adjusted for their age when they draw up to 100 So why draw at 70 when married except to boost your account while alive
Comment from : @edhettwer7920

Thank you for all your great videos I'm looking for a calculation for spousal benefits with the low earner taking their benefits at 62 and the higher earner waiting until 67 Is the reduced amount on total Spousal benefit or just the lower earner's portion of the spousal benefit?
Comment from : @Kelly-is5rd

I read that i could claim offy EX HUSBAND SOCIAL SECURITY WHO PASSED AWAY THIS YR MAY BUT WE BOTH HAVE BEEN REMARRIED IS THAT TRUE
Comment from : @julieo6266

I took retirement at 68 When pa😮nde,ic hit they called to Seeif I would come back working with mental health I went back to work and they ytax my ss and I ended up owing 150000 I only receive 1400 a month
Comment from : @karenalley2882

I’m 60, I am married to a 34 year old and have a son that will be 6 three days after my 62 birthday When I go into my SSA account and use the calculator my benefits do not change between 62 and 67 I earn enough to pay the maximum into SSA I am guessing the benefits don’t change because of the family maximum Would you agree or is there some glitch in the calculator?
Comment from : @papalolo3769

Are the index factors based on the year you turn 60 years old? Meaning are they locked in at 60 based on the year you turn 62? My index factors have changed a few times in my 50's and I'm currently 59 years old I turn 62 in the year 2026
Comment from : @hardcor1313

If you work past your full retirement age (FRA), say to age 70 and you max out on your salary each year, is your PIA updated until you file or are you locked in?
Comment from : @jimcatpsu

Great video thank you for everything can you say what the minimum Social Security you can receive that with the maximum Social Security you can receive
Comment from : @willygriffith838