how is your social security benefit amount calculated at retirement ?

Public Comments

1. If you go to www.ssa.gov, there is a paragraph on that page that will tell you how your benefits are calculated.
2. you can find in on the web at the ssi site. think it is sa.org or something. lol
3. You can find the exact calculation at ssa.gov. Your retirement benefits are figured using highest 35 years of earnings. A weighted average is figured, where old earnings are converted to today's dollars. Depending on that average, you get a percentage of that as your benefit. If you have relatively low earnings, you get a higher percentage. There is an upper limit on the benefit, so high income earners get a lower percentage of their average earnings as a benefit. The benefit also depends on when the person starts getting his checks. Benefits are discounted if the person starts his checks before full retirement age (now between 65 and 67 depending on when you were born). If you are eligible to receive benefits, you can have the SSA compute your benefit before you actually apply for it.