When does SS Admin change your benefits?

[sanfanciscotreat]

I am 66 now. The SS website shows that my current benefit is $2570/month and shows $2570/month when I turn 67 in a couple of months. At what point between my 66th and 67th birthday does the benefit change from age 66 to age 67? Will my benefit increase to the age 68 level before I actually turn 68?

 

[haha]

I am 66 now. The SS website shows that my current benefit is $2570/month and shows $2570/month when I turn 67 in a couple of months. At what point between my 66th and 67th birthday does the benefit change from age 66 to age 67? Will my benefit increase to the age 68 level before I actually turn 68?

It happens month by month. And, if you re still working, there are lags before the recent year's earnings get credited, but they do catch up.

Ha

 

[sanfanciscotreat]

It is not changing month by month. I have been retired for more than three years and have had no earned income this year.

 

[haha]

It is not changing month by month. I have been retired for more than three years and have had no earned income this year.

I do not know on what you base your idea, or what your circumstances are. But you can easily look up what happens to expected benefits when you are past 62 but not yet 70. I am not saying that some website updates monthly, just that what most of us are interested in, the reality of what we can expect, increases every month that one does not draw benefits between 62 and 70.

Difficult as this is, one just sometimes has to go to the sources.

Ha

 

[W2R]

Here is an example provided by SS, showing how the starting benefits increase for each month you wait before claiming SS, if you were born between 1943 and 1954:

Full Retirement Age: If You Were Born Between 1943 And 1954

The example on this webpage just shows the increases for months between age 62 and 66.

 

[sanfanciscotreat]

Apparently the information posted on the SS website does not precisely line up with reality. No surprise considering the ACA website mess.

 

[target2019]

I found this information about Social Security computers.

While the establishment of Social Security predated the invention of the modern digital computer, punched card data processing was a mature technology, and the Social Security system made extensive use of automated unit record equipment from the program's inception. This allowed the Social Security Administration to achieve a high level of efficiency. SSA expenses have always been a small fraction of benefits paid. As a percentage of assets, the administration costs are 0.39%.

This article, Social Security Data Center Approaching Collapse, is far more interesting. It says they are just now converting from COBOL, to be completed in 2015. Perhaps the 500M upgrade is causing some disparity in the results.

 

[lemming]

I am 66 now. The SS website shows that my current benefit is $2570/month and shows $2570/month when I turn 67 in a couple of months. At what point between my 66th and 67th birthday does the benefit change from age 66 to age 67? Will my benefit increase to the age 68 level before I actually turn 68?[/QUOTE

Are you already collecting benefits? Are you looking for the time they adjust for COLA increases?

 

[jwkde]

Are you already drawing SS?

I am 66 now. The SS website shows that my current benefit is $2570/month and shows $2570/month when I turn 67 in a couple of months. At what point between my 66th and 67th birthday does the benefit change from age 66 to age 67? Will my benefit increase to the age 68 level before I actually turn 68?

 

[rescueme]

DW/I are both 65, both retired, and neither are drawing SS at this time.

I run the SS estimator ( Retirement Estimator ) on the first of each month, since the update is run the evening of the last day of the month. It shows an increase each month on the "At your current age" line of the report.

IOW, it's updated monthly (assuming you are past the age of 62). The age 66/70 benefit remains the same each month, with the exception of the COLA which gets posted in the Nov/Dec timeframe.

I turn 66 in January (FRA for me). Since I'm not claiming SS till age 70, I'll assume the report will show only two line items at that time - age 70 and current age benefit.

FWIW...

 

[Rustward]

I found this information about Social Security computers.



This article, Social Security Data Center Approaching Collapse, is far more interesting. It says they are just now converting from COBOL, to be completed in 2015. Perhaps the 500M upgrade is causing some disparity in the results.

I wouldn't poo-poo something just because it is written in Cobol. Most people would be shocked to know how much of their day-to-day lives touch Cobol code.

 

[rescueme]

I wouldn't poo-poo something just because it is written in Cobol. Most people would be shocked to know how much of their day-to-day lives touch Cobol code.

I would agree.

Perform statements and do loops will be executing somewhere in this world in a back-office support function well after most/all of us on this board have turned to dust...

http://en.wikipedia.org/wiki/Grace_Hopper legacy runs on!

 

[MRG]

I found this information about Social Security computers.



This article, Social Security Data Center Approaching Collapse, is far more interesting. It says they are just now converting from COBOL, to be completed in 2015. Perhaps the 500M upgrade is causing some disparity in the results.

Not to disagree, but I don't read the article as if their converting away from COBOL.

"Another IT management challenge the agency faces is application modernization -- specifically, the existence of critical business applications written in COBOL, which the IG calls a "dead or dying language."
Replacing these applications has been deemed "too risky" by analyst firm Gartner Group, according to the report, so the SSA must figure out a way to restructure them to modernize the applications. "

I'd read that as the COBOL lives on and new interfaces to the legacy will be put in place to modernize. The technology to interface with legacy COBOL (from "modern applications") has existed for many years.

Yes, COBOL is still performing so much heavy lifting of applications we all probably use very often. In a few years it will be the have to have skill for those still consulting. Y2K all over.

Last thing I want to see is some bright contractors fixing SSA like they fixed healthcare.gov


MRG