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When are SS statements updated ?
Old 02-13-2018, 08:35 AM   #1
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When are SS statements updated ?

I've checked my SS statements for the last four years around mid April. Each year the estimated payout increases - which I assume is the COLA adjustment. I assume if I checked again in Sept of the same year it would show the same amount. So the question is "When is the best time of year to check your SS statement to get the most updated payout info ?)

(Yearly income doesn't matter now as I've not paid FICA since retiring)

Thanks


ETA - I'm still in my 50's so am not receiving any benefits yet
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Old 02-13-2018, 08:53 AM   #2
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Because you are under 62 number you're looking for is your initial Primary Insurance Amount. It is calculated by indexing your earnings record by the "Average Wage Index", not the CPI-W. The CPI is used after you turn 62.

According to this page,https://www.ssa.gov/oact/cola/index.html all the indexed amounts are published in the Federal Register in October.

The most recent change in the AWI was 1.13%. So, if I understand the rules and your situation, you should see an increase in your calculated PIA of 1.13%. https://www.ssa.gov/oact/cola/awidevelop.html
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Old 02-13-2018, 09:08 AM   #3
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SomedaySoon it also will depend on whether you are still working and earning amounts that will displace any of the previous 35 years "adjusted" earnings amounts. If not, then the projected monthly payment will only be adjusted based on the COLA adjustment if my thinking is correct.
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