Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Any Pia V. 2011.2-My benefit decreased slightl...
Old 07-23-2011, 11:46 PM   #1
Full time employment: Posting here.
 
Join Date: Mar 2004
Location: No Where for Very Long
Posts: 769
Any Pia V. 2011.2-My benefit decreased slightl...

Here is a question for all of you SS experts

I was Using Any Pia V. 2010.1, to estimate my monthly benefit. Today I down loaded the latest version Any Pia 2011.2, from the SS website, and guess what? My monthly benefit at age 62 decreased by $24.

I know the COLA increase in the historical data is 0 for for 2009 and 2010 so I was not expecting an increase.

Could it be due to a decrease in the Average Wage? AW for 2009 is $41,334.97; for 2010 it is $40,711.61. (Recession impact?)

I know just enough about the PIA calculation to be dangerous, so thanks in advance for any help
__________________

Lancelot is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-24-2011, 04:47 AM   #2
Thinks s/he gets paid by the post
Tadpole's Avatar
 
Join Date: Jul 2004
Posts: 1,428
I have 2011.1. It has 2008 $41,334.97 and $40,711.61 for both 2009 and 2010. Are your assumptions the same as before?
Tadpole is offline   Reply With Quote
Old 07-24-2011, 05:08 AM   #3
Full time employment: Posting here.
 
Join Date: Mar 2004
Location: No Where for Very Long
Posts: 769
Tadpole my assumptions are the same, the only difference being "No increase begining with 2011 benefit increase statement" instead of 2010 for the older version.

Just curious but: 1. did your benefit increas? and 2. are you retired now or still adding income. I've entered big fat 0s for the past 9 years...
__________________

Lancelot is offline   Reply With Quote
Old 07-24-2011, 09:24 AM   #4
Thinks s/he gets paid by the post
Tadpole's Avatar
 
Join Date: Jul 2004
Posts: 1,428
I haven't downloaded the .2 version so I don't know how it would change. I retired 31 Dec 2010 but didn't apply for SS. I project for 2014 using the same "...(Statement)" options you do. I use zeroes for 2011 through 2014 taxable wage. I see that the output shows no CPI increases for those years are used.

The .1 version says "No increase...2011...statement" too. Are you sure you didn't upgrade from the 2010 version?
Tadpole is offline   Reply With Quote
Old 07-24-2011, 09:32 AM   #5
Thinks s/he gets paid by the post
teejayevans's Avatar
 
Join Date: Sep 2006
Posts: 1,691
Quote:
Originally Posted by Lancelot View Post
Could it be due to a decrease in the Average Wage? AW for 2009 is $41,334.97; for 2010 it is $40,711.61. (Recession impact?)
Exactly, your history of earning is affect by this, lower AWI, lower your "index" wages are, lower your SS.
All your past wages are adjusted based on the AWI, (not directly related to inflation), lower AWI, the lower SS. I could go into more detail, but would end up boring you.
FYI, since 1970, the AWI has never dropped before.
TJ
teejayevans is online now   Reply With Quote
Old 07-24-2011, 10:28 PM   #6
Full time employment: Posting here.
 
Join Date: Mar 2004
Location: No Where for Very Long
Posts: 769
Quote:
Originally Posted by teejayevans View Post
Exactly, your history of earning is affect by this, lower AWI, lower your "index" wages are, lower your SS.
All your past wages are adjusted based on the AWI, (not directly related to inflation), lower AWI, the lower SS. I could go into more detail, but would end up boring you.
FYI, since 1970, the AWI has never dropped before.
TJ
Thanks TJ!

The positive thing is that seeing a lower benefit has proded me to learn more about the way my SS check is calculated. In a way, this was The Perfct Storm in that, 1. The annual CPI increase was 0 for 2 years and, 2. the indexed wage base decreased.

I have learned a lot from this site

http://www.fairmark.com/retirement/socsec/pia.htm

Your detail doesn't bore me good buddy
__________________

Lancelot is offline   Reply With Quote
Old 07-25-2011, 08:56 AM   #7
Thinks s/he gets paid by the post
teejayevans's Avatar
 
Join Date: Sep 2006
Posts: 1,691
Quote:
Originally Posted by Lancelot View Post
Your detail doesn't bore me good buddy
Ok, then for your amusement: I appended a spreadsheet to do you own calculations in another thread, but it doesn't work if born <1960 because of special adjustments to retirement age.
See thread: http://www.early-retirement.org/foru...a-53862-2.html
TJ
teejayevans is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


» Quick Links

 
All times are GMT -6. The time now is 06:32 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.