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Old 11-14-2007, 11:30 PM   #21
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Just found this on a ssa page...
still confused

link

"As the Social Security system has matured, more years of a
worker’s earnings are used to compute retirement
For
people reaching age 62 in 1981, benefits are based on their average
earnings over their highest 25 years. Those reaching age 62 in 1991
or later will have their retirement benefits based on their highest 35
years of earnings. Thus, as the average period lengthens, more women
will have childcare years included in the period over which earnings are
averaged to compute retirement benefits.
Earnings are averaged over a number of years determined from the
years between January 1, 1951 and the year the worker reaches age 62.
If he or she reached 21 after 1950, the period for averaging begins with
the year age 22 was reached."
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Old 11-14-2007, 11:49 PM   #22
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Why are you looking in the section on SS history? That's hundreds of pages of proposals, recommendations, etc., regarding SS made over the years.

Go look in the main area under how your SS benefits are calculated.
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Old 11-15-2007, 09:24 AM   #23
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I agree with EngineeringMyFinances, the age 22 rule you keep running into appears to be an artifact of a change in the rules as to how your benefits are calculated and only applied to people born in certain years.
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Old 11-15-2007, 07:36 PM   #24
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Went to the online calculator and entered all my earnings records
assumed I was retiring at 62 and 0 income from 2007 on and
got $1525.00 for a monthly benefit.

Went back into the form and deleted all my years before I was 22
and recalculated and got $1501.00 benefit.

So it is using those years in the calculation but it only adds $24 /month.
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Old 11-15-2007, 08:37 PM   #25
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Quote:
Originally Posted by homestead View Post
So it is using those years in the calculation but it only adds $24 /month.
That makes sense and is congruent with the trial runs I have done with the online calculator. I didn't specifically omit the years prior to the age of 22, however, so glad to hear you did and that that is cleared up.

Thanks for following up!
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Old 11-15-2007, 09:20 PM   #26
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Quote:
Originally Posted by travelover View Post
You don't need to apologize. Some of the posters here are over 60 and grumpy.
And, some of the posters are under 50 and grumpy. Maybe even under 40 and grumpy.

Ha
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Old 11-15-2007, 09:50 PM   #27
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And, some of the posters are under 50 and grumpy. Maybe even under 40 and grumpy.

Ha
I'm not sure about this Ha. It seems like if you're 60 or better, you can be grumpy. But, if you're under 60 and act that same way, you're just being a butthead.

So, I'd say "some of the posters are under 50 and are buttheads. Maybe even under 40 and are buttheads."

Just a point of view I'm trying out............

grumpy youbet
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