In this blog post, we take a trip down memory lane to review the history of automatic increases in primary insurance amounts for Social Security beneficiaries since 1978. The primary insurance amount (PIA) is the foundation upon which Social Security benefits are calculated, and it plays a vital role in ensuring that recipients receive the …
The primary insurance amount (PIA) is a crucial component in determining Social Security benefits. In some cases, the PIA may be recomputed to include additional earnings or due to changes in computation methods. This blog post highlights the reasons for recomputing the primary insurance amount, as outlined in § 404.281. Earnings Not Included in Earlier Computation …
Reasons for Recomputing Your Primary Insurance Amount, § 404.281 Read More »
One of these methods is the guaranteed alternative, which applies to those who reached age 62 after 1978 but before 1984. https://www.ssa.gov/OP_Home/cfr20/404/404-0230.htm In this post, we’ll explain what the guaranteed alternative method is and who qualifies for it. The guaranteed alternative is a modified average-monthly-wage method used to compute a person’s primary insurance amount. This …
It is important to understand how the Social Security Administration (SSA) calculates your primary insurance amount (PIA) and how it affects your monthly benefit amount. According to § 404.201 of the SSA guidelines, the PIA is the basic figure used to determine your monthly benefit amount. https://www.ssa.gov/OP_Home/cfr20/404/404-0201.htm In this article, we will explain what is …
If you reached age 62, became disabled, or died before 1979, the Social Security Administration (SSA) may calculate your primary insurance amount (PIA) using the average-monthly-wage method. https://www.ssa.gov/OP_Home/cfr20/404/404-0220.htm This method can also apply under certain conditions if you reached age 62 between 1979 and 1984. In this blog post, we’ll break down the average-monthly-wage method …