- How It Works
- ServicesServicesOverviewChoose the right level of support for your plan and needsExpert ReviewA comprehensive review of inputs and reports to get you on the right pathFiling AssistanceLet our experts deal with Social Security for youClawback AssistanceFor those who need help fighting a Social Security benefit clawback
.png)
- Why Choose Us
- ResourcesResourcesBooksFrom the world-renowned economist behind Maximize My Social SecurityWebinars & PodcastsExpert tips and guides to help you get the maximum from Maximize My Social SecurtyArticlesIn-depth commentary on Social Security from our founderAsk LarryThousands of questions answered by our Social Security expertsBlogSocial Security insights to help you maximize your lifetime benefitsFAQYour most pressing questions answered
- Pricing
Ask Larry
Experts at Maximize My Social Security have answered more than 10,000 questions about Social Security over many years. Search for your questions and answers here.
Will The $40,000 I Earned Last Year Increase My Benefit Rate?
I AM 69 AND WORKING. I COLLECT SOCIAL SECURITY SINCE THREE YEARS. IN 2016 I MADE $40000.OO WAGES. WILL IT INCREASE MY BENEFITS?
Hi,
Maybe, and maybe not. Your Social Security retirement benefit rate is based on your highest 35 years of wage-indexed earnings (https://www.ssa.gov/pubs/EN-05-10070.pdf). If the $40K you earned last year is higher than one of your previous highest 35 years of indexed earnings, then your rate should go up. Social Security should automatically increase your rate if an adjustment is due, but you can request a manual recalculation by contacting Social Security and submitting proof of your 2016 earnings (e.g. W-2 form).
Best, Jerry
Category:
Posted:
September 10, 2017