WebFeb 9, 2024 · 15% of $79 (the difference between $6,721 and $6,800) = $11.85, rounded down to $11.80. This worker would earn a monthly Social Security benefit of $2,808.60 ($1003.50 + $1,793.90 + $11.80). When ... WebThe first bend point of the AIME is $1,115. Therefore all earnings up to this amount are multiplied by 90%. The second bend point represents AIME between $1,115 and $6,721 which is multiplied by 32%. While any remaining AIME above $6,721 is multiplied by 15%. The total of all three amounts equals the PIA value. PIA Recomputation

Social Security Bend Points Explained - Getting Your Financial Ducks In

WebJun 3, 2024 · The impact of bend points. On average, Social Security replaces about 40% of the average workers pre-retirement income. However, the program is designed to … WebJun 4, 2024 · There is a three-step process used to calculate the amount of Social Security benefits you will receive. Step 1: Use your earnings history to calculate your Average Indexed Monthly Earnings (AIME). Step 2: Use … theaters lincoln nebraska

Social Security’s Bend Points: What Are They? The Motley Fool

WebJan 23, 2024 · Since the maximum earnings subject to Social Security payroll taxes is $137,700 in 2024, and over two-thirds of workers earn less than $100,000 per year, the income requirement is a hurdle few ... WebMar 9, 2012 · Our first retiree is age 62 in 2016, and is hoping to begin taking Social Security benefits immediately upon eligibility – to get what’s coming to her. Her AIME has been calculated as $6,500. Applying the formula, we get the following: first bend point: $770.40 ($856 * 90%) The second example retiree also is age 62 in 2016. WebFeb 17, 2024 · In my 24 years of “work” (16 in my career and 8 during high school/college) I’ve earned more than the first Social Security bend point (~$360k) and less than the 2nd. At best, every $420 of additional income will earn $0.32 in monthly Social Security income… someday. Most Early Retirees will be in a similar boat. the good doctor sezon 4 odcinek 2