If you are unable to work due to a physical or mental impairment, you may be entitled to receive disability benefits from the Social Security Administration (SSA). However, it’s important to understand how the amount of your disability benefit is calculated. Let’s take a closer look at the key details outlined in § 404.317 of the …
How is the Amount of Your Disability Benefit Calculated? § 404.317 Read More »
In this blog post, we will discuss the minimum Social Security earnings required to qualify for a year of coverage after 1950. The table provided highlights the earnings thresholds for both special minimum primary insurance amounts and benefit computations described in section 404.213(d) 2. Key Points: Earnings Thresholds: The table lists the minimum Social Security earnings …
If you have been paying into the Social Security system for a while, you may be wondering how your benefits will be calculated. One important thing to know is that your benefits are based on your average earnings over your working life. However, if you reach age 62, become disabled, or pass away before age …
Social Security benefits can be confusing, and understanding the various methods for calculating benefits can be overwhelming. One method that you may come across is the old-start method, which was used to calculate benefits for individuals who reached age 62, became disabled, or died after 1977. In this blog post, we’ll break down the requirements …
Understanding the Old-Start Computation Method for Social Security Benefits, § 404.241 Read More »
In § 404.221, the Social Security Administration (SSA) outlines the process of computing your average monthly wage, a crucial factor in determining your primary insurance amount (PIA) for disability benefits. https://www.ssa.gov/OP_Home/cfr20/404/404-0221.htm Here’s a step-by-step overview of the average monthly wage computation: Determine your creditable earnings: Your average monthly wage is based on your wages, compensation, self-employment …
Calculating Your Average Monthly Wage: A Guide to § 404.221 Read More »