Social Security: Benefit Calculation

January 19, 2021 – November 17, 2022 R46658

Social Security: Benefit Calculation
November 17, 2022
Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI), commonly referred to
on a combined basis as OASDI, are social insurance programs that protect insured workers and
Barry F. Huston
their family members against loss of income due to old age, disability, or death. These programs
Analyst Social Policy
are often referred to as Social Security. Monthly Social Security benefit amounts are determined

by federal law. Most Social Security beneficiaries are retired or disabled workers whose monthly
benefits depend on their past earnings, the age at which they claimed benefits, and other factors.

Benefits are also paid to workers’ dependents and survivors based on the earnings of the insured
workers.
The computation process involves three main steps:
1. First, a summarized measure of lifetime Social Security–covered earnings is computed. That measure is called the
average indexed monthly earnings (AIME).
2. Second, a progressive benefit formula is applied to the AIME to compute the primary insurance amount (PIA). The
benefit formula is progressive. As a result, workers with higher AIMEs receive higher Social Security benefits, with
benefits received by people with lower earnings replacing a larger share of career-average earnings.
3. Third, an adjustment may be made based on the age at which a beneficiary chooses to begin receiving benefits. For
retired workers who claim benefits at the full retirement age (FRA) and for disabled workers, the monthly benefit
equals the PIA. Retired workers who claim earlier than the FRA receive monthly benefits lower than the PIA (i.e.,
an actuarial reduction), and those who claim later than the FRA receive benefits higher than the PIA (i.e., a delayed
retirement credit).
Retired-worker benefits can be affected by other adjustments. For example, the windfall elimination provision can reduce
benefits for individuals who receive a pension based on employment not covered by Social Security, and benefits can be
temporarily withheld under the retirement earnings test if a beneficiary under the FRA continues to work and earns above a
certain amount. Although not an adjustment, income tax can affect Social Security benefits and thus the beneficiary’s net
income.
Benefits for eligible dependents and survivors are based on the worker’s PIA. For example, a dependent spouse can receive a
benefit equal to 50% of the worker’s PIA, and a widow(er) can receive a benefit equal to 100% of the worker’s PIA.
Dependent benefits may also be adjusted based on the age at which they are claimed and other factors.
In September 2022, there were approximately 65.8 million Social Security beneficiaries collecting an average monthly
benefit of $1,548. Retired-worker and disabled-worker beneficiaries accounted for 85.1% of the beneficiary population. The
largest single category of beneficiaries was retired workers (73.4%), with an average monthly benefit of $1,674. The second-
largest category was disabled workers (11.7%), with an average monthly benefit of $1,363. Family members of retired,
disabled, or deceased workers accounted for the remainder of the beneficiary population (14.9%). The Social Security
Administration’s Office of the Chief Actuary estimates that about 94% of workers, about 182 million, are covered under the
OASDI programs. Because of the number of people receiving benefits, the number of people expected to receive benefits,
and the program’s projected long-term financial imbalance, there has been some congressional interest in making changes to
the benefit formula.

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Introduction
Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI), commonly referred to on
a combined basis as OASDI, are social insurance programs that protect insured workers and their
family members against loss of income due to old age, disability, or death. These programs are
often referred to as Social Security. Most Social Security beneficiaries are retired or disabled
workers whose monthly benefits depend on their past earnings, their age, and other factors.
Benefits are also paid to workers’ dependents and survivors based on the earnings of the insured
workers.
Social Security has a significant impact on beneficiaries, both young and old, in terms of income
support and poverty reduction.1 Under current law, Social Security’s revenues are projected to be
insufficient to pay full scheduled benefits after 2035.2 For both of those reasons, Social Security
is of ongoing interest to policymakers. Most proposals to change Social Security would change
the benefit computation rules. Evaluating such proposals requires an understanding of how
benefits are computed under current law.
This report provides several examples of how benefits are computed under current law. To help
illustrate the benefit formula, this report makes use of hypothetical earners. Wages for
hypothetical earners are expressed at each age as a percent of the Social Security Administration’s
(SSA’s) Average Wage Index (AWI).3 Hypothetical workers are assumed to work continuously
from age 21 through 61 (i.e., 40 years of covered employment). Throughout this report, examples
of benefit calculations are shown for very low, low, medium, and high lifetime hypothetical
earners as well as maximum earners.4 This technique demonstrates how Social Security benefits
are computed under current law, how career earnings affect benefit levels, and how program
changes may affect beneficiaries. In addition, this technique illustrates how indexed parameters
that change year to year affect benefit amounts. Appendix A provides more details, including

1 Research suggests that Social Security benefits accounted for most of the decline in poverty from 1967 through 2000.
For more information, see CRS Report R45791, Poverty Among the Population Aged 65 and Older.
2 Social Security Administration (SSA), Office of the Chief Actuary (OCACT), The 2022 Annual Report of the Board
of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds, June 2,
2022, https://www.ssa.gov/OACT/TR/2022/tr2022.pdf (hereinafter cited as “2022 Annual Report”). Under current law,
the OASI and DI trust funds are distinct entities and cannot borrow from each other when faced with a funding
shortfall. The shifting of funds between OASI and DI can be done only with authorization from Congress. In the past,
Congress has authorized temporary interfund borrowing among the OASI, DI, and Medicare Hospital Insurance trust
funds, as well as temporary payroll tax reallocations between OASI and DI, to deal with funding shortfalls. Most
recently, under the Bipartisan Budget Act of 2015 (P.L. 114-74), Congress authorized a temporary reallocation of
payroll taxes from the OASI fund to the DI fund for calendar years 2016-2018. Because of such actions, the OASI and
DI trust funds are discussed on a combined basis. Separately, the OASI fund is projected to have asset reserves until
2034, at which point continuing income to the fund would be sufficient to pay 77% of OASI scheduled benefits. The DI
fund is projected to have asset reserves throughout the 75-year projection period (2022 Annual Report, p. 6). The 2022
intermediate assumptions reflect the trustees’ understanding of the status of the Social Security trust funds at the start of
2022. Like the previous year’s report, the 2022 estimates include potential effects of Coronavirus Disease 2019
(COVID-19). Although the report includes impacts from COVID-19, the impacts are confined to the near term. The
trustees acknowledge that effects from the pandemic, especially in the long term, are subject to a high level of
uncertainty.
3 SSA, OCACT, Scaled Factors for Hypothetical Earnings Examples Under the 2022 Trustees Report Assumptions,
June 2022, at https://www.ssa.gov/OACT/NOTES/ran3/an2022-3.pdf.
4 A maximum earner is a worker who has earnings at or above the contribution and benefit base for each year starting at
age 22 through the year prior to retirement (2022 Annual Report, p. 154). The contribution and benefit base for 2023 is
$160,200 (see SSA, 2023 Social Security Changes, https://www.ssa.gov/news/press/factsheets/colafacts2023.pdf).
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distributional information, on wages of hypothetical earners born in 1953. This year is chosen
simply because it is the youngest cohort of workers and beneficiaries for which complete
information on indexed earnings and program-specific factors are known.
Eligibility and Insured Status
Workers become eligible for Social Security benefits for themselves and for their family members
by working in Social Security–covered employment.5 Generally speaking, about 94% of workers
earn wages or self-employment income in Social Security–covered employment.6 While working
in covered employment, workers earn quarters of coverage (QCs), or credits. The amount needed
for a QC increases annually with growth in average earnings in the national economy as
measured by the AWI (see Table B-1).7 In 2023, a worker will earn one credit or QC for every
$1,640 of earnings, up to four per year. Therefore, a worker earning $6,560 in covered
employment at any point in the calendar year would be credited with the maximum number (i.e.,
four) of QCs for that year.
Insured Status
To be eligible for most benefits, workers must be fully insured, which requires one QC for each
year elapsed after the worker turns 21 years old—with a minimum of six QCs and a maximum of
40 QCs—and the year before the worker attains age 62, the year before the worker dies, or the
year before the worker becomes disabled. A worker is first eligible for Social Security retirement
benefits at 62, so to be eligible for retirement benefits, a worker must generally have worked for
10 years. Workers are permanently insured when they are fully insured and will not lose fully
insured status when they stop working under covered employment, for example, if a worker has
the maximum 40 QCs.
Benefits may be paid to eligible survivors of a worker who was fully insured at the time of death.8
Some dependents are also eligible for survivors benefits if the deceased worker was currently
insured, which requires earning six QCs in the 13 quarters ending with the quarter of death.
To be eligible for disability benefits, workers must also satisfy a recency of work requirement.
Workers aged 31 or older must have earned 20 QCs in the 10 years before becoming disabled.
Fewer QCs are required for younger workers.9
In the case of workers having work history in multiple countries, international totalization
agreements allow workers who divide their careers between the United States and certain

5 A list of eligibility requirements for family members is covered in Appendix C. Covered employment is employment
for which earnings are creditable for Social Security purposes (2022 Annual Report, p. 243). The roughly 6% of
workers who are not covered by Social Security are state and local government workers, certain workers employed by
religious groups, and certain noncitizen workers.
6 OCACT, “Social Security Program Fact Sheet,” June 2022, https://www.ssa.gov/oact/FACTS/index.html.
7 The AWI is the average of all workers’ wages subject to federal income taxes and contributions to deferred
compensation plans. It is calculated using some wages that are not subject to the Social Security payroll tax. For more
information on AWI, see CRS In Focus IF11931, Social Security: The Average Wage Index.
8 For more information on survivors benefits, see CRS Report RS22294, Social Security Survivors Benefits.
9 To be eligible for disability benefits, workers must also be found unable to engage in substantial gainful activity. See
CRS Report R44948, Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI): Eligibility,
Benefits, and Financing.
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Social Security: Benefit Calculation

countries to fill gaps in Social Security coverage by combining work credits under each country’s
system to qualify for benefits under one or both systems.10
Amount Needed to Earn Credits
As discussed, in 2023, a worker will earn one QC for each $1,640 of covered earnings.11
Therefore, a worker earning $6,560 in covered employment at any point in the calendar year
would be credited with the maximum number (i.e., four) of QCs for that year. Alternatively, if a
worker earned $4,920 in covered employment in 2023, he or she would be credited with three
QCs for that year ($4,920 divided by $1,650 equals three).
Average Index Monthly Earnings
The first step of computing a Social Security benefit is determining a worker’s average indexed
monthly earnings (AIME), a measure of a worker’s past earnings.
A worker’s Social Security benefit is based on his or her earnings during covered employment.
That is, only earnings from years of covered employment are included in the calculation.
Earnings that were not covered (i.e., not subject to the Social Security payroll tax) are not
included in the calculation.
Under current law, the Social Security payroll tax is applied to covered earnings up to an annual
limit, or taxable maximum. The taxable maximum is indexed to national average wage growth for
years in which a cost-of-living adjustment (COLA) is payable. The taxable maximum will
increase from $147,000 in 2022 to $160,200 in 2023. This level of earnings is both the
contribution base (i.e., amount of covered earnings subject to the Social Security payroll tax) and
the benefit base (i.e., amount of covered earnings used to determine benefits). Earnings in excess
of the taxable maximum are not subject to the Social Security payroll tax and are not factored into
benefit calculations.
Wage Indexing
Rather than using the amounts earned in past years directly, the AIME computation process first
updates past earnings to account for the growth in overall economy-wide earnings. That is done
by increasing each year of a worker’s taxable earnings after 1950 by the growth in average
earnings in the economy, as measured by the AWI, from the year of work until two years prior to
eligibility for benefits, which for retired workers is at age 60. (Workers are first eligible for
benefits at age 62.12) For example, the national average wage grew from $32,155 in 2000 to
$41,674 in 2010. So if a worker earned $20,000 in 2000 and turned 60 in 2010, the indexed wage
for 2000 would be $20,000 × ($41,674/$32,155), or $25,921. Earnings from later years—for
retired workers at ages 60 and above—are not indexed.

10 See CRS Report RL32004, Social Security Benefits for Noncitizens.
11 Since 1978, the amount needed to earn a QC has been indexed to changes in the AWI. See OCACT, “Quarter of
Coverage,” https://www.ssa.gov/OACT/COLA/QC.html. Under current law, the amount needed to earn a QC cannot
decrease. That is, the amount required is the higher of (1) the amount in effect for the calendar year a determination is
made or (2) the product of that calendar year’s amount and the change in the AWI (42 U.S.C. §413(a)).
12 SSA uses the national average wage indexing series to ensure that future benefits reflect the general rise in the
standard of living over the course of a worker’s earning history. For details, see “Index earnings used to compute initial
benefits” in OCACT, “National Average Wage Index,” https://www.ssa.gov/oact/COLA/AWI.html.
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Number of Years
For retired workers, the AIME equals the average of the highest 35 years of indexed earnings
divided by 12 (to change the benefit from an annual to a monthly measure). Those years of
earnings are known as computation years. If the person worked fewer than 35 years in
employment subject to Social Security payroll taxes, the computation includes some years of zero
earnings.
In the case of workers who die before turning 62 years old, the number of computation years is
generally reduced below 35 by the number of years until he or she would have reached 62. For
example, the AIME for a worker who died at 61 is based on 34 computation years.
For disabled workers, the number of computation years depends primarily on the age at which
they become disabled, increasing from two years for those aged 24 or younger to 35 years for
those aged 62 or older.13
AIME for Hypothetical Workers Born in 1953
Table 1 shows the AIME for the four hypothetical scaled earners and maximum earner for the
1953 birth cohort. (Nominal annual earnings for this cohort are shown in Table A-2, and wage-
indexed earnings for this cohort are shown in Table A-3.) These workers, born in 1953, are
assumed to have entered the labor force in 1974 (i.e., age 21) and worked continually until 2015
(i.e., age 62). As discussed and shown in Table A-3, annual earnings until age 60 are wage-
indexed using the AWI, whereas earnings for later years are kept at nominal values (reflected by
an index factor of 1.00 in Table A-3). The AIME is calculated by taking the total of the highest 35
years of earnings and dividing by 420 (the number of months in 35 years).
Table 1. Total Wage-Indexed Earnings and Average Indexed Monthly Earnings (AIME)
for Hypothetical Workers Born in 1953, by Earnings Level
Very Low
Low
Medium
Higher
Maximum

Earner
Earner
Earner
Earner
Earner
Total Earnings from Highest
35 Years of Wage-Indexed
$391,406.63
$704,280.24
$1,565,493.44
$2,504,787.60
$3,807,774.57
Earnings
AIME
931.00
1,676.00
3,727.00
5,963.00
9,066.00
Source: CRS.
Note: Wage-indexed earnings are rounded to the nearest cent, and AIMEs are rounded down to the nearest
dollar (see 20 C.F.R. §404.211).

13 The number of computation years equals the number of “elapsed years” minus any “dropout years.” The number of
elapsed years equals the calendar years after an individual turns 21 years old through the year before the individual first
becomes eligible for disability benefits with a minimum of two. For every five elapsed years, there is one disability
dropout year up to a maximum of five. In addition, people with fewer than three disability dropout years may be
credited with up to two additional dropout years based on the care of a child for up to a total of three dropout years. See
CRS Report R43370, Social Security Disability Insurance (SSDI): Becoming Insured, Calculating Benefit Payments,
and the Effect of Dropout Year Provisions.
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Primary Insurance Amount
The next step in determining a benefit is to compute the primary insurance amount (PIA) by
applying a benefit formula to the AIME.
First, the AIME is sectioned into three brackets (or segments) of earnings by two dollar amounts
known as bend points. In 2023, the bend points will be $1,115 and $6,721.14 Those amounts are
indexed to the AWI, so they generally increase each year.15
Three factors—fixed by law at 90%, 32%, and 15%—are applied to the three brackets of AIME
to allow for a progressive benefit formula. For workers with AIMEs of $1,115 or less in 2023, the
PIA is 90% of the AIME. Because the other two factors are lower, the share of earnings that is
replaced by the Social Security benefit declines as AIMEs increase. For workers who become
eligible for retirement benefits, become disabled, or die in 2023, the PIA is determined as shown
in the examples in Table 2. Benefits are based on covered earnings. Earnings up to the maximum
taxable amount ($160,200 in 2023) are subject to the Social Security payroll tax. If a worker
earns the maximum taxable amount in every year of a full work history, becomes eligible in 2023,
and claims benefits at the full retirement age (FRA), the maximum PIA is $3,627.16
PIA for Hypothetical Workers Born in 1953
Table 2 shows how to calculate the PIAs for the four hypothetical scaled earners and the
maximum earner for the 1953 birth cohort (who reached age 62 in 2015). This table highlights
several features of the benefit formula. First, the formula results in a progressive replacement
rate—measured as the percent of AIME that the PIA replaces. That is, the replacement rate is
higher for lower earners (i.e., 83% for very low earners) than for higher earners (i.e., 37% for
high earners). Second, the benefit formula results in individual equity. Specifically, the more a
worker earns (and pays in payroll tax), up to the taxable maximum, the higher the PIA. For
instance, a hypothetical low earner born in 1953 had monthly wage-indexed earnings of about
$1,676, resulting in a PIA of $1,015.40, whereas a maximum earner born in the same year had
wage-indexed earnings of about $9,066 and thus a PIA of $2,685.50. The maximum earner paid
the largest possible amount in payroll tax in each year of employment, while the low earner paid
considerably less.17 His or her PIA is close to three times that of the low earner.

14 The bend points used in the PIA formula are rounded to the nearest dollar (42 U.S.C. §415(a)(1)(B)(iii)).
15 Bend points are indexed to the AWI and can decrease when AWI decreases (42 U.S.C. §415(a)(1)(B)). See Table B-
1 for a list of historical bend point values. For more information on effects of wage indexing and price indexing on
benefits, see CRS Report R46819, Social Security: The Effects of Wage and Price Indexing on Benefits.
16 SSA, “2023 Social Security Changes.”
17 For the 1953 birth cohort, a hypothetical low earner would have paid a lifetime total of $28,559.31 in Social Security
payroll taxes on total nominal earnings of $468,574.69, whereas a hypothetical maximum earner would have paid a
lifetime total of $154,842.89 in payroll taxes on total nominal earnings of $2,549,600.00. Both workers would have
been subject to the same employee payroll tax rate. The hypothetical maximum earner would have received larger
benefits based on higher earnings subject to the payroll tax. Social Security benefits themselves may also be subject to
federal income tax. For more information, see CRS Report RL32552, Social Security: Taxation of Benefits.
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Table 2. Computation of Primary Insurance Amounts (PIAs) for Hypothetical
Workers Born in 1953, by Earnings Levels
PIAs for Hypothetical Workers
Three Brackets
of Average
Indexed
Very Low
Medium
High
Maximum
Factors
Monthly
Earner
Low Earner
Earner
Earner
Earner
Earnings
(AIME) in 2015
AIME of
AIME of
AIME of
AIME of
AIME of
$920.00
$1,656.00
$3,680.00
$5,888.00
$8,890.00
first $826 of
90%
$743.40
$743.40
$743.40
$743.40
$743.40
AIME, plus
AIME over $826
32%
and through
33.60
272.00
928.32
1,329.28
1,329.28
$4,980, plus
15%
AIME over $4,980
0.00
0.00
0.00
147.45
612.90
Total: Worker’s PIA (by
law, rounded down to nearest
777.00
1,015.40
1,671.70
2,220.10
2,685.50
10 cents)
PIA as Percent of AIME
83%
61%
45%
37%
30%
Source: CRS.
Notes: The bend points shown in the table apply to workers who first become eligible in 2015. See Table B-1
for historical values of bend points. Under current law, PIA is rounded down to the nearest dime (42 U.S.C.
§415(a)(1)(A)).
Benefit Amounts
The PIA calculated in the previous section may not be the benefit amount a worker will receive at
retirement. The PIA is further adjusted for age at benefit claiming and COLAs to determine the
benefit amount. Also, PIAs may be recomputed to capture additional covered earnings.18
Age
The earliest eligibility age is the age at which a retired worker can first claim benefits. The full
retirement age (FRA, also called the normal retirement age) is the age at which a worker can
receive the full PIA, increased by any COLAs. The FRA was 65 for people born before 1938, but
the Social Security Amendments of 1983 (P.L. 98-21) raised the FRA for those born later, as
shown in Table 3.
Table 3. Full Retirement Age (FRA) by Year of Birth
Year of Earliest Eligibility
Year of Birth
Age
FRA
1937 or earlier
1999 or earlier
65
1938
2000
65 and 2 months
1939
2001
65 and 4 months

18 20 C.F.R. §404.281.
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Year of Earliest Eligibility
Year of Birth
Age
FRA
1940
2002
65 and 6 months
1941
2003
65 and 8 months
1942
2004
65 and 10 months
1943-1954
2005-2016
66
1955
2017
66 and 2 months
1956
2018
66 and 4 months
1957
2019
66 and 6 months
1958
2020
66 and 8 months
1959
2021
66 and 10 months
1960 or later
2022 or later
67
Source: Social Security Administration, Office of the Chief Actuary, “Normal Retirement Age,”
http://www.ssa.gov/OACT/progdata/nra.html.
Adjustments for Early and Late Benefit Claim
Retired workers may claim benefits when they turn 62 years old, but the longer that they wait, the
higher their monthly benefit. The higher monthly benefit is intended to offset the fewer number of
payments that people who delay claiming will receive over their lifetimes so that the total value
of lifetime benefits is approximately the same based on average life expectancy, regardless of
when they claim.19
The permanent reduction in monthly benefits that applies to people who claim before the FRA is
an actuarial reduction. It equals five-ninths of 1% for each month (6⅔% per year) for the first
three years of early claim and five-twelfths of 1% for each month (5% per year) beyond 36
months.
The permanent increase in monthly benefits that applies to those who claim after the FRA is
called the delayed retirement credit (DRC). For people born in 1943 and later, that credit is 8%
for each year of delayed claim after the FRA up to age 70.20
For people with an FRA of 66, therefore, monthly benefits are 75% of the PIA for those who
claim benefits at the age of 62 and 132% of the PIA for people who wait until the age of 70 to
claim (see Table B-2). Because people who claim earlier receive more payments over a lifetime,
all else equal, the overall effect of claiming at different ages depends on how long the beneficiary
lives.
Workers with a higher FRA may receive relatively lower benefits for two reasons. First, monthly
benefits will be different for individuals who have identical work histories and the same age of
claiming benefits but different FRAs. For example, someone with an FRA of 66 who claims at

19 Said differently, adjustments for early or late benefit claiming are intended to be actuarially equivalent. Under
average life expectancies, early claimants receive smaller benefits but over a longer period of time, whereas late
claimants receive higher benefits for a shorter period of time. Average life expectancies vary across demographic
groups such as age, race, and sex. For more information, see CRS Report R44846, The Growing Gap in Life
Expectancy by Income: Recent Evidence and Implications for the Social Security Retirement Age.
20 For people born before 1943, the DRC varies from 3.0% to 7.5% depending on the year of birth. See “Delayed
Retirement Credit” in OCACT, “Early or Late Retirement?,” http://www.ssa.gov/OACT/quickcalc/early_late.html#late.
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age 62 will receive a monthly benefit equal to 75% of the PIA. For someone with an FRA of 67,
claiming at 62 will result in a monthly benefit that is 70% of the PIA. Depending on the claiming
age, the scheduled increase in the FRA from 66 to 67 will reduce monthly benefits for workers
with similar earnings by between 6.1% and 7.7%. Second, lifetime benefits will be different for
workers who have identical work histories and identical age of death but different FRAs. For
example, consider two workers who have FRAs of 65 and 67, respectively, both of whom claim
at their FRA and thus receive identical monthly benefits. If both workers die at age 75, the worker
with an FRA of 65 will have received monthly benefits for 10 years, compared with the worker
with an FRA of 67, who will have received monthly benefits for eight years.
Cost-of-Living Adjustments
A COLA is applied to the benefit beginning in the second year of eligibility, which for retired
workers is age 63. The COLA applies even if a worker has not yet begun to receive benefits. The
COLA usually equals the growth in the Consumer Price Index for Urban Wage Earners and
Clerical Workers (CPI-W) from the third quarter of one calendar year to the third quarter of the
next calendar year. The COLA becomes effective in December of the current year and is payable
in January of the following year.21 Beneficiaries will receive a COLA of 8.7% for benefits paid in
January 2023.22
Benefit Amounts for Hypothetical Workers Born in 1953
As discussed, the PIA is not the benefit amount a worker receives. Adjustments to the PIA for
early or late claiming (relative to a worker’s FRA) interact with COLAs to produce the actual
benefit amount. These two factors affect all claimants, while other adjustments may affect only
some claimants (see “Other Adjustments to Benefits”). Table 4 shows how claiming age—and
the associated actuarial reduction or DRC—works with COLAs to produce benefit amounts
before other adjustments. Specifically, Table 4 shows first how the PIA is adjusted for the
claimant’s age. For instance, a worker born in 1953 (FRA of 66) claiming at age 62 (48 months
before FRA) would receive 75% of his or her PIA. This reduction represents five-ninths of 1%
reduction for 36 months and five-twelfths of 1% reduction for 12 months. Table 4 also shows
how COLAs begin to affect benefit amounts beginning at age 63. For instance, a worker born in
1953 claiming at age 66 (i.e., FRA) would receive 100% of his or her PIA plus COLAs for 2017,
2018, and 2019. (There was no COLA payable for 2016; see Table B-1.) Additionally, since the
COLAs represent a percentage change in benefit amounts that increase the base benefit, benefits
demonstrate cumulative growth with each COLA increase. Lastly, workers claiming benefits after
FRA receive DRCs. For instance, a worker born in 1953 claiming at age 70 would receive 132%
of his or her PIA plus all of the payable COLAs from 2016 through 2023.
Adjustments for early or late claiming and COLAs can have significant effects on a worker’s
benefit amount. For instance, a medium earner born in 1953 and claiming benefits at age 62, the
earliest eligibility age, would receive initial monthly benefits of $1,253.00. Those benefits would
increase by annual COLAs: monthly benefits of $1,253 at age 62 would grow to $1,561 at age 70.

21 Social Security payments always reflect the benefits due for the preceding month.
22 SSA, 2023 Social Security Changes, https://www.ssa.gov/news/press/factsheets/colafacts2023.pdf. If the CPI-W
does not increase over the relevant period, no COLA is payable. No COLA was payable in January 2010 or January
2011, because the CPI-W for the third quarter of 2009 and for the third quarter of 2010 were both lower than the CPI-
W for the third quarter of 2008. No COLA was payable in January 2016 because the CPI-W for the third quarter of
2015 was lower than the CPI-W for the third quarter of 2014. For details, see CRS Report 94-803, Social Security:
Cost-of-Living Adjustments.
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(This amount reflects 24.60% in cumulative COLAs.23) In comparison, a medium earner born in
1953 claiming benefits at age 70, thereby taking advantage of all possible DRCs, would receive
initial monthly benefits of $2,749. (This amount reflects a 32% increase from DRCs and a
24.60% increase from the compounding of COLAs.)
Table 4. Initial Monthly Benefit Amounts for Hypothetical Workers Born in 1953, by
Earnings Level and Claiming Age
Primary insurance amounts (PIAs) adjusted for claiming age relative to full retirement age (FRA) and cost-
of-living adjustments (COLAs)
Year/
Percent
Very Low
Low
Medium
High
Maximum
Claiming
of PIA
COLA
Earner
Earner
Earner
Earner
Earner
Age

Hypothetical Worker PIAs from Table 2.

$777.00
$1,015.40
$1,671.70
$2,220.10
$2,685.50

Benefit Amounts
2015/62
75.0%
-
582.00
761.00
1,253.00
1,665.00
2,014.00
2016/63
80.0%
0.0%
621.00
812.00
1,337.00
1,776.00
2,148.00
2017/64
86.6%
0.3%
675.00
882.00
1,453.00
1,929.00
2,334.00
2018/65
93.3%
2.0%
741.00
969.00
1,596.00
2,119.00
2,564.00
2019/66
100.0%
2.8%
817.00
1,067.00
1,758.00
2,334.00
2,824.00
2020/67
108.0%
1.6%
896.00
1,171.00
1,929.00
2,562.00
3,099.00
2021/68
116.0%
1.3%
975.00
1,274.00
2,099.00
2,787.00
3,371.00
2022/69
124.0%
5.9%
1,014.00
1,443.00
2,376.00
3,155.00
3,817.00
2023/70
132.0%
8.7%
1,277.00
1,670.00
2,749.00
3,651.00
4,416.00
Source: CRS.
Notes: Under current law, monthly benefit amounts are rounded down to the nearest dollar (42 U.S.C.
§415(g)).
Features of the Benefit Formula
In the AIME computation, earnings are indexed to the AWI, and the bend points in the benefit
formula are also indexed to growth in the AWI. As a result, replacement rates—the portion of
earnings that benefits replace—remain generally stable. That is, from year to year, the average
benefits that new beneficiaries receive increase at approximately the same rate as average
earnings in the economy.
As demonstrated in Table 2, the benefit formula is generally considered to be progressive. In this
context, progressive means that a higher share of earnings is replaced for career low earners than
for career higher earners. However, although low lifetime earners have a higher replacement rate,
they do not receive higher benefits compared to relatively higher lifetime earners. This feature is
often referred to as individual equity. That is, higher lifetime earners receive higher benefits.
Additionally, as shown in Table 4, a worker who claimed benefits early—before reaching FRA—
would receive lower monthly benefits than if he or she claimed at FRA. Furthermore, a worker

23 The cumulative effect of the COLAs shown in Table 4 is 24.60%.
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who claimed benefits late—after reaching FRA—would receive higher monthly benefits than if
he or she claimed at FRA. This feature is known as actuarial equivalence, because the intent is to
provide the same amount of lifetime benefits regardless of when a worker claims benefits.24
Lastly, all things being equal, the more years a worker is able to work, the higher dollar amount
he or she may receive in benefits. Said differently, years of zero earnings will generally result in
lower lifetime earnings in the Social Security benefit computation. Consider the hypothetical
earners born in 1953 who are assumed to have worked continuously from age 21 through 61,
inclusive (i.e., 41 years of covered employment). If each scaled earner’s highest year of earnings
was replaced with a zero (representing a year out of the workforce, for example, for education,
caregiving or any other reason), his or her highest 35 years of wage-indexed earnings, the amount
used to compute AIME, and PIA would all decrease. (See Scenario B in Table 5). Scenario A
reproduces information for hypothetical earners from previous sections.) The replacement rate—
measured as percent of AIME replaced by PIA—increases for some earners. In Scenario B, the
highest year of earnings (occurring in the hypothetical worker’s late 40s) was replaced by a year
of lower earnings. Because the hypothetical workers are assumed to have worked continuously,
this has the effect of essentially taking the second- through 36th-highest years of earnings from
Table A-3.
Scenario C demonstrates how a worker can benefit from more work. That is, since the highest 35
years of earnings are used in the benefit formula, the hypothetical earners still had 35 years of
earnings. However, if a worker does not have 35 years of earnings, the benefit formula will
impute years of zero earnings. Consider the same hypothetical earners born in 1953 but with a
longer break in employment (for example, representing years out of the workforce for education,
caregiving, or unemployment) of seven years. In this example, Scenario C, the hypothetical
workers would not have years of extra earnings beyond 35, and one year of zero earnings would
be used in their benefit calculations. Table 5 shows how their highest 35 years of wage-indexed
earnings, AIME, and PIA would decrease. As in the previous example, as a result of a decrease in
cumulative lifetime earnings, some replacement rates increase. This has the effect of essentially
taking the eighth- through 41st-highest years of earnings from Table A-3. Since the hypothetical
earners had 41 years (from age 21 through age 61, inclusive) of earnings, the highest 35 years of
earnings would now include one year of zero earnings.
Table 5. Wage-Indexed Earnings, Average Indexed Monthly Earnings (AIMEs), and
Primary Insurance Amounts (PIAs) for Hypothetical Earners Born in 1953, by
Earnings Level and Years of Earnings
Very Low
Low
Medium
Maximum

High Earner
Earner
Earner
Earner
Earner
Scenario A (from Table 1 and Table 2)
Workers in Scenario A have 41 years of covered employment (ages 21 through 61, inclusive), and the highest 35
years of covered employment are used to calculate benefits.
Total Earnings from
Highest 35 Years of
$391,406.63
$704,280.24
$1,565,493.44
$2,504,787.60
$3,807,774.57
Waged Indexed Earnings
AIME
931.00
1,676.00
3,727.00
5,963.00
9,066.00
PIA
777.00
1,015.40
1,671.70
2,220.10
2,685.50
PIA as Percent of AIME
83%
61%
45%
37%
30%

24 Actuarial equivalence is dependent on life expectancies, which are known to vary by demographic group. See
footnote 19.
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Scenario B (Scenario A with highest year of indexed earnings removed)
Workers in Scenario B have 40 years of covered employment, and the highest 35 years of covered employment
are used to calculate benefits.
Total Earnings from
Highest 35 Years of
$386,468.93
$695,392.38
$1,545,742.65
$2,473,231.22
$3,779,564.02
Waged Indexed Earnings
AIME
920.00
1,655.00
3,680.00
5,888.00
8,998.00
PIA
773.40
1,008.60
1,656.60
2,208.80
2,675.30
PIA as Percent of AIME
84%
61%
45%
38%
30%
Percent Reduction in PIA
0.5%
0.7%
0.9%
0.5%
0.4%
from Scenario A
Scenario C (Scenario A with highest seven years of indexed earnings removed)
Workers in Scenario C have 34 years of covered employment. Their benefit calculations include one year of zero
earnings.
Total Earnings from
Highest 35 Years of
$337,630.61
$607,636.03
$1,350,748.49
$2,161,168.73
$3,462,609.85
Waged Indexed Earnings
AIME
803.00
1,446.00
3,216.00
5,145.00
8,244.00
PIA
722.70
941.80
1,508.20
2,097.40
2,562.20
PIA as Percent of AIME
90%
65%
47%
41%
31%
Percent Reduction in PIA
7.0%
7.2%
9.8%
5.5%
4.6%
from Scenario A
Source: CRS.
Note: Wage-indexed earnings are rounded to the nearest cent, and AIMEs are rounded down to the nearest
dollar (see 20 C.F.R. §404.211). Under current law, PIA is rounded down to the nearest dime (42 U.S.C.
§415(a)(1)(A)).
Auxiliary Benefits
Although the majority of Social Security benefits are paid to retired or disabled workers, many
family members of workers are eligible to receive auxiliary benefits based on the workers’
earnings. In September 2022, 9.8 million family members of retired, disabled, or deceased
workers received Social Security auxiliary benefits (about 14.9% of the beneficiary population).25
Social Security auxiliary benefits are payable to the spouse, divorced spouse, or dependent child
of a retired or disabled worker and to the widow(er), divorced widow(er), dependent child, or
parent of a deceased worker.26 When dependent beneficiaries also earned worker benefits, they
receive the larger of the worker or the auxiliary benefit.27

25 SSA, “Monthly Statistical Snapshot, September 2022,” Table 2. See the latest edition of the Monthly Statistical
Snapshot at https://www.ssa.gov/policy/docs/quickfacts/stat_snapshot/.
26 The computation of dependent benefits may be quite complex. For additional details and information on other
dependent benefits, see “Benefits for the Worker’s Family Members” in CRS Report R42035, Social Security Primer.
27 Someone with an auxiliary benefit higher than his or her retired-worker benefit is referred to as dually entitled and
receives his or her retired-worker benefit plus a reduced auxiliary benefit amount equal to the full auxiliary benefit
minus the retired-worker benefit, in essence receiving the higher auxiliary benefit amount. For more information on
dual entitlement, see CRS In Focus IF10738, Social Security Dual Entitlement.
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Benefits payable to family members are equal to a specified percentage of the worker’s PIA,
subject to a maximum family benefit. A spouse’s base benefit (that is, before any adjustments)
equals 50% of the worker’s PIA. A widow(er)’s base benefit is 100% of the worker’s PIA. The
base benefit for children of a retired or disabled worker is 50% of the worker’s PIA, and the base
benefit for children of deceased workers is 75% of the worker’s PIA. Benefits payable to family
members may be subject to adjustments based on the family member’s age at entitlement, receipt
of a Social Security benefit based on his or her own work record, and other factors.28
Table C-1 provides a summary of Social Security benefits payable to the family members of a
retired, disabled, or deceased worker. It includes the basic eligibility requirements and basic
benefit amounts before any applicable adjustments (such as for the maximum family benefit).
Maximum Family Benefits
The total amount of Social Security benefits payable to a family based on a retired, disabled, or
deceased worker’s record is capped by the maximum family benefit. The family maximum cannot
be exceeded regardless of the number of beneficiaries entitled to benefits on the worker’s
record.29 If the sum of all benefits payable on the worker’s record exceeds the family maximum,
the benefit payable to each dependent or survivor is reduced in equal proportion to bring the total
amount of benefits payable to the family within the limit. In the case of a retired or deceased
worker, the maximum family benefit is determined by a formula and varies from 150% to 188%
of the worker’s PIA. For the family of a worker who attains the age of 62 in 2023 or dies in 2023
before attaining the age of 62, the total amount of benefits payable to the family is limited to
 150% of the first $1,425 of the worker’s PIA, plus
 272% of the worker’s PIA over $1,425 and through $2,056, plus
 134% of the worker’s PIA over $2,056 and through $2,682, plus
 175% of the worker’s PIA over $2,682.30
The dollar amounts in the maximum family benefit formula ($1,425, $2,056, and $2,682 in 2023)
are indexed to the AWI, just as the bend points in the regular benefit formula. In the case of a
disabled worker, the maximum family benefit is equal to 85% of the worker’s AIME. However,
the family maximum cannot be less than 100% or more than 150% of the worker’s PIA.31
Other Adjustments to Benefits
Other benefit adjustments apply in certain situations, including
 the windfall elimination provision, which reduces benefits for worker
beneficiaries who have pensions from employment that was not subject to Social
Security payroll taxes;32

28 Similar to a worker’s benefit, auxiliary benefits paid to family members may also be subject to adjustment based on
age. For more information, see CRS Report R41479, Social Security: Revisiting Benefits for Spouses and Survivors.
29 Social Security Act, Title II, §203.
30 SSA, “Formula for Family Maximum Benefit,” https://www.socialsecurity.gov/OACT/COLA/familymax.html.
31 Benefits for a divorced beneficiary are not taken into account for purposes of the family maximum. See SSA,
“Family Benefits Where a Divorced Spouse or a Surviving Divorced Spouse is Entitled,” https://secure.ssa.gov/apps10/
poms.nsf/lnx/0300615682.
32 See CRS Report 98-35, Social Security: The Windfall Elimination Provision (WEP).
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 the government pension offset, which reduces Social Security spousal benefits
paid to people who have pensions from employment that was not subject to
Social Security payroll taxes;33 and
 the retirement earnings test, which results in a temporary withholding of monthly
Social Security benefits paid to beneficiaries who are younger than FRA and
have earnings above a certain level.34

33 See CRS Report RL32453, Social Security: The Government Pension Offset (GPO).
34 See CRS Report R41242, Social Security Retirement Earnings Test: How Earnings Affect Benefits.
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Appendix A. Hypothetical Workers, Wages, and
Indexed Wages
SSA’s Office of the Chief Actuary (OCACT) uses hypothetical earnings patterns to evaluate the
program under current law and to illustrate how program changes may affect beneficiaries.35
OCACT publishes scaled factors for very low, low, medium, and high earners as a percent of
AWI. Hypothetical workers are assumed to have long and consistent earnings at their respective
levels. At these levels, hypothetical workers have earnings from ages 21 to 64, with peak earnings
in their late 40s. For instance, a hypothetical medium earner’s work history would begin at age 21
with relatively medium wages and gradually increase until age 50, remaining relatively medium,
and then begin to decrease until age 64. The scaled factors (i.e., percent of AWI) for different
hypothetical earnings groups are shown in Figure A-1.
Figure A-1. Scaled Factors by Hypothetical Earnings Level and Age
Percent of Average Wage Index (AWI)

Source: OCACT, Scaled Factors for Hypothetical Earnings Examples Under the 2022 Trustees Report
Assumptions, June 2022, Table 6, https://www.ssa.gov/OACT/NOTES/ran3/an2022-3.pdf.
Notes: There is no scaled factor for a maximum earner.
Table A-1 shows how actual workers are distributed relative to the hypothetical scaled workers.
As an example, Table A-1 shows that a hypothetical medium-scaled worker retiring at age 62 in
2021 had career average earnings of $55,381 (in 2020 dollars). For actual workers retiring in
years 2016-2021, 56.1% had an AIME less than the hypothetical medium earner with $55,381 in
career-average earnings. During the same 2016-2021 period, 70.2% of female workers had an
AIME less than this hypothetical medium earner, whereas 42.3% of males had an AIME less than
the hypothetical medium earner. Table A-1 also shows the percent of workers with AIMEs closest

35 OCACT, Scaled Factors for Hypothetical Earnings Examples Under the 2022 Trustees Report Assumptions. See
https://www.ssa.gov/OACT/NOTES/ran3/an2022-3.pdf.
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to hypothetical scaled workers. For instance, 30.3% of workers retiring in 2016-2021 have
AIMEs closest to that of a hypothetical medium-scaled worker.
Table A-1. Distribution of Average-Indexed Monthly Earnings (AIMEs) of Actual
Workers Retiring in Years 2016-2021, Relative to AIMEs for Hypothetical Workers
Retiring in 2021

Percent with AIME Less Than
Percent with AIME Closest
AIME for Hypothetical Case
to AIME for Hypothetical
Casea
Hypothetical Workerb
All
All
All
All
All
All
(Career-Average Earnings)
Males
Females
Workers Males
Females
Workers
c
Very Low
7.7%
15.3%
11.5%
12.1%
23.3%
17.7%
($13,845)
Low
16.2
31.4
23.7
15.9
29.3
22.5
($24,922)
Medium
42.3
70.2
56.1
30.0
30.7
30.3
($55,381)
High
71.3
91.1
81.1
27.0
13.5
20.3
($88,610)
Maximum
100.0
100.0
100.0
15.0
3.1
9.1
($136,833)
Source: OCACT, Scaled Factors for Hypothetical Earnings Examples Under the 2022 Trustees Report Assumptions,
Actuarial Note Number 2022.3, June 2022, Table 1, https://www.ssa.gov/OACT/NOTES/ran3/an2022-3.pdf.
Notes: Worker distributions include individuals who are dually entitled or may become dually entitled to a
higher benefit in the future based on another worker’s earnings record. If dually entitled workers were excluded
from the above distribution, a higher percentage of the remaining workers would have earnings closer to the
higher-level hypothetical workers. For more information on dual entitlement, see CRS In Focus IF10738, Social
Security Dual Entitlement.
a. Rounded values do not necessarily sum to 100%. The percentage of workers with AIME values closest to
that of the hypothetical maximum worker is expected to decline in future years. This is due to a significant
increase in the OASDI maximum taxable earnings, relative to the AWI, in 1981 and a smaller increase in
1990.
b. A hypothetical worker is assumed to have a long and consistent career with earnings at each age from 21
through 64.
c. Career-average earnings of hypothetical scaled workers retiring at age 62 in 2021. Earnings are wage-
indexed to 2020 in this calculation.
Figure A-1 showed the scaled factors for each hypothetical earning level. Table A-1 showed who
in the actual workforce is similar and closest to the hypothetical earnings groups. To determine
what hypothetical workers earned, the scaled factor for each age is multiplied by a year’s AWI.
This analysis selected the 1953 birth cohort, the youngest birth cohort for which all information
on wage-indexed and price-indexed parameters are known. The hypothetical worker for this birth
cohort began work at age 21 in 1974 and reached peak earnings sometime in the late 1990s or
early 2000s. These workers reached early eligibility age (i.e., 62) in 2015, full retirement age (i.e.,
66) in 2019, and age 70 in 2023. The hypothetical earnings for each earnings level are shown in
Table A-2. Also, wages for a maximum earner—a worker who earned at or above the
contributions base in each year—is shown.
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Table A-2. Hypothetical Wages for 1953 Birth Cohort by Earnings Level
Very Low
Low
Medium
High
Maximum
Year
Age
Earner
Earner
Earner
Earner
Earner
1974
21
578.21
1,035.97
2,304.83
3,686.12
13,200.00
1975
22
759.52
1,363.69
3,038.08
4,850.58
14,100.00
1976
23
1,024.14
1,845.30
4,105.78
6,569.25
15,300.00
1977
24
1,290.89
2,327.51
5,183.10
8,283.19
16,500.00
1978
25
1,572.85
2,839.57
6,301.95
10,081.01
17,700.00
1979
26
1,882.63
3,386.44
7,530.53
12,053.43
22,900.00
1980
27
2,214.88
3,991.79
8,884.56
14,215.29
25,900.00
1981
28
2,616.89
4,710.40
10,467.56
16,748.09
29,700.00
1982
29
2,920.80
5,260.35
11,683.20
18,701.83
32,400.00
1983
30
3,215.48
5,775.67
12,846.68
20,542.50
35,700.00
1984
31
3,533.58
6,373.35
14,150.46
22,637.50
37,800.00
1985
32
3,818.71
6,863.58
15,241.19
24,392.64
39,600.00
1986
33
4,035.98
7,257.84
16,143.94
25,826.83
42,000.00
1987
34
4,403.94
7,923.40
17,597.32
28,174.13
43,800.00
1988
35
4,717.51
8,487.64
18,870.02
30,180.44
45,000.00
1989
36
4,984.69
8,984.50
19,958.85
31,938.18
48,000.00
1990
37
5,299.05
9,546.70
21,217.23
33,960.19
51,300.00
1991
38
5,583.77
10,033.34
22,313.27
35,705.59
53,400.00
1992
39
5,940.27
10,687.91
23,761.10
38,026.93
55,500.00
1993
40
6,060.76
10,895.49
24,219.91
38,770.35
57,600.00
1994
41
6,270.93
11,306.68
25,107.48
40,190.97
60,600.00
1995
42
6,571.71
11,858.72
26,336.23
42,123.15
61,200.00
1996
43
6,944.93
12,516.41
27,831.53
44,520.08
62,700.00
1997
44
7,405.02
13,329.04
29,647.51
47,446.98
65,400.00
1998
45
7,850.31
14,113.24
31,372.39
50,190.04
68,400.00
1999
46
8,318.27
14,960.69
33,273.07
53,230.81
72,600.00
2000
47
8,810.42
15,852.33
35,209.53
56,303.09
76,200.00
2001
48
9,020.61
16,230.51
36,082.42
57,712.13
80,400.00
2002
49
9,111.07
16,393.28
36,411.04
58,224.41
84,900.00
2003
50
9,333.80
16,759.96
37,267.06
59,647.73
87,000.00
2004
51
9,732.05
17,503.44
38,928.22
62,278.02
87,900.00
2005
52
10,051.20
18,069.99
40,167.85
64,298.12
90,000.00
2006
53
10,435.88
18,784.59
41,782.17
66,828.29
94,200.00
2007
54
10,828.67
19,475.44
43,274.27
69,254.99
97,500.00
2008
55
10,953.77
19,675.45
43,773.73
70,021.44
102,000.00
2009
56
10,544.31
18,971.61
42,177.23
67,499.85
106,800.00
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Very Low
Low
Medium
High
Maximum
Year
Age
Earner
Earner
Earner
Earner
Earner
2010
57
10,543.48
18,961.59
42,132.24
67,386.58
106,800.00
2011
58
10,572.98
18,996.99
42,248.96
67,606.93
106,800.00
2012
59
10,548.56
18,969.67
42,149.91
67,457.58
110,100.00
2013
60
10,189.61
18,359.26
40,803.34
65,312.27
113,700.00
2014
61
9,947.05
17,895.39
39,834.66
63,679.68
117,000.00
2015
62
9,956.42
17,892.69
39,777.57
63,634.49
118,500.00
2016
63
9,728.43
17,462.53
38,865.08
62,164.67
118,500.00
2017
64
9,712.12
17,461.70
38,798.18
62,097.21
127,200.00
Source: CRS.
Notes: Very low, low, medium, and high earners are assumed to work at specified ages with earnings equivalent
to the respective scaled earners as shown in OCACT, Scaled Factors for Hypothetical Earnings Examples Under the
2022 Trustees Report Assumptions, June 2022, Table 6, https://www.ssa.gov/OACT/NOTES/ran3/an2022-3.pdf. All
dollar values are shown in nominal terms (i.e., not indexed). Maximum earners are assumed to have earned at or
above the contribution base in each respective year (see Table B-1).
As discussed, the first step in determining benefit amounts is to index a worker’s nominal
earnings to SSA’s AWI (see Table B-1). Earnings up to age 60 are wage-indexed, and earnings
after age 60 are kept in nominal terms. The wage-indexed earnings for scaled hypothetical
workers born in 1953 are shown in Table A-3.
Table A-3. Wage-Indexed Hypothetical Wages for 1953 Birth Cohort by Earnings
Level
Highest 35 Years of Wage-Indexed Earnings Are in Bold
Index
Very Low
Low
Medium
High
Maximum
Year Age
Factora
Earner
Earner
Earner
Earner
Earner
1974
21
5.590
3,231.95
5,790.57
12,882.90
20,603.67
73,781.77
1975
22
5.201
3,950.16
7,092.33
15,800.63
25,227.15
73,332.05
1976
23
4.865
4,982.59
8,977.63
19,975.23
31,960.37
74,436.71
1977
24
4.590
5,925.24
10,683.38
23,790.72
38,020.27
75,735.89
1978
25
4.252
6,688.34
12,074.92
26,798.23
42,868.19
75,266.97
1979
26
3.910
7,361.66
13,242.01
29,446.63
47,132.57
89,545.92
1980
27
3.587
7,945.20
14,319.32
31,870.59
50,992.95
92,908.22
1981
28
3.259
8,528.75
15,351.75
34,115.00
54,584.00
96,795.81
1982
29
3.089
9,022.52
16,249.51
36,090.08
57,771.06
100,085.50
1983
30
2.946
9,471.40
17,012.61
37,840.72
60,509.24
105,156.64
1984
31
2.782
9,830.51
17,730.82
39,366.92
62,978.09
105,160.53
1985
32
2.668
10,189.61
18,314.37
40,668.67
65,087.83
105,666.23
1986
33
2.591
10,458.94
18,808.14
41,835.77
66,928.25
108,839.76
1987
34
2.436
10,728.27
19,301.91
42,868.19
68,634.00
106,699.61
1988
35
2.322
10,952.71
19,705.90
43,810.84
70,070.42
104,477.24
1989
36
2.233
11,132.26
20,065.01
44,573.94
71,327.29
107,198.01
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Index
Very Low
Low
Medium
High
Maximum
Year Age
Factora
Earner
Earner
Earner
Earner
Earner
1990
37
2.135
11,311.82
20,379.22
45,292.15
72,494.38
109,509.45
1991
38
2.058
11,491.37
20,648.55
45,920.59
73,481.92
109,896.92
1992
39
1.957
11,626.03
20,917.88
46,504.13
74,424.57
108,622.07
1993
40
1.940
11,760.70
21,142.32
46,997.90
75,232.56
111,770.84
1994
41
1.890
11,850.47
21,366.76
47,446.79
75,950.77
114,518.66b
1995
42
1.817
11,940.25
21,546.32
47,850.78
76,534.31
111,195.39
1996
43
1.732
12,030.03
21,680.98
48,209.88
77,117.86
108,609.19
1997
44
1.637
12,119.80
21,815.65
48,524.10
77,656.52
107,040.24
1998
45
1.555
12,209.58b
21,950.31
48,793.43b
78,060.51
106,382.43
1999
46
1.473
12,254.47b
22,040.09b
49,017.87b
78,419.62b
106,954.30
2000
47
1.396
12,299.36c
22,129.86c
49,152.54b
78,599.17b
106,375.27
2001
48
1.363
12,299.36b
22,129.86b
49,197.42c
78,688.94c
109,623.26
2002
49
1.350
12,299.36b
22,129.86b
49,152.54b
78,599.17b
114,609.48b
2003
50
1.318
12,299.36b
22,084.97b
49,107.65b
78,599.17b
114,641.88b
2004
51
1.259
12,254.47b
22,040.09b
49,017.87b
78,419.62b
110,682.46
2005
52
1.215
12,209.58
21,950.31b
48,793.43
78,105.40b
109,326.47
2006
53
1.161
12,119.80
21,815.65
48,524.10
77,611.63
109,400.01
2007
54
1.111
12,030.03
21,636.09
48,075.22
76,938.31
108,316.88
2008
55
1.086
11,895.36
21,366.76
47,536.56
76,040.54
110,768.01
2009
56
1.103
11,626.03
20,917.88
46,504.13
74,424.57
117,756.47c
2010
57
1.077
11,356.70
20,424.11
45,381.93
72,584.15
115,037.55b
2011
58
1.044
11,042.49
19,840.57
44,125.06
70,609.08
111,542.55
2012
59
1.013
10,683.38
19,212.13
42,688.64
68,319.78
111,507.22
2013
60
1.000
10,189.61
18,359.26
40,803.34
65,312.27
113,700.00b
2014
61
1.000
9,947.05
17,895.39
39,834.66
63,679.68
117,000.00b
Total Indexed Earnings
423,546.55
762,141.08
1,694,187.80
2,710,599.81
4,269,873.90
Highest 35 Years’ Indexed
Earnings
391,406.63
704,280.24
1,565,493.44
2,504,787.60
3,807,774.57
Average Indexed Monthly
Earning’s (AIME)
931.00
1,676.00
3,727.00
5,963.00
9,066.00
Source: CRS.
Note: Figures in bold indicate the highest 35 years of wage-indexed earnings.
a. The index factor is computed by dividing the Social Security Administration’s (SSA’s) Average Wage Index
(AWI) in the year a worker turns 60 by the AWI for each year of earnings. For instance, the index factor
for 2010 is computed by dividing the AWI from 2013—the year in which the workers turned 60—by the
AWI from year 2010 (i.e., $44,888.16/$41,673.83 or 1.077). Results are displayed to three decimals. See
Table B-1 for AWI values.
b. Removed for Scenario C (see “Features of the Benefit Formula”).
c. Removed for Scenarios B and C (see “Features of the Benefit Formula”).
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Appendix B. Social Security Program Information
Table B-1. Parameters Used to Calculate Social Security Eligibility and Benefits,
Select Years
Amount
Contribution First Primary
Average
Cost-of-
Second
Needed to
Annual
and Benefit
Insurance
Wage
Living
PIA
Earn One
Year
Change
Base
Amount
Index
Adjustment
Bend
Quarter of
(AWI)
(Taxable
(PIA) Bend
(AWI)
(COLA)a
Pointb
Coverage
Maximum)
Pointb
(Credit)c
1951
$2,799.16
—
—
$3,600
—
—
$50
1952
2,973.32
6.22%
—
3,600
—
—
$50
1953
3,139.44
5.59%
—
3,600
—
—
$50
1954
3,155.64
0.52%
—
3,600
—
—
$50
1955
3,301.44
4.62%
—
4,200
—
—
$50
1956
3,532.36
6.99%
—
4,200
—
—
$50
1957
3,641.72
3.10%
—
4,200
—
—
$50
1958
3,673.80
0.88%
—
4,200
—
—
$50
1959
3,855.80
4.95%
—
4,800
—
—
$50
1960
4,007.12
3.92%
—
4,800
—
—
$50
1961
4,086.76
1.99%
—
4,800
—
—
$50
1962
4,291.40
5.01%
—
4,800
—
—
$50
1963
4,396.64
2.45%
—
4,800
—
—
$50
1964
4,576.32
4.09%
—
4,800
—
—
$50
1965
4,658.72
1.80%
—
4,800
—
—
$50
1966
4,938.36
6.00%
—
6,600
—
—
$50
1967
5,213.44
5.57%
—
6,600
—
—
$50
1968
5,571.76
6.87%
—
7,800
—
—
$50
1969
5,893.76
5.78%
—
7,800
—
—
$50
1970
6,186.24
4.96%
—
7,800
—
—
$50
1971
6,497.08
5.02%
—
7,800
—
—
$50
1972
7,133.80
9.80%
—
9,000
—
—
$50
1973
7,580.16
6.26%
—
10,800
—
—
$50
1974
8,030.76
5.94%
—
13,200
—
—
$50
1975
8,630.92
7.47%
—
14,100
—
—
$50
1976
9,226.48
6.90%
8.0%
15,300
—
—
$50
1977
9,779.44
5.99%
6.4%
16,500
—
—
$50
1978b 10,556.03
7.94%
5.9%
17,700
—
—
250
1979
11,479.46
8.75%
6.5%
22,900
$180
$1,085
260
1980
12,513.46
9.01%
9.9%
25,900
194
1,171
290
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Amount
Contribution First Primary
Average
Cost-of-
Second
Needed to
Annual
and Benefit
Insurance
Wage
Living
PIA
Earn One
Year
Change
Base
Amount
Index
Adjustment
Bend
Quarter of
(AWI)
(Taxable
(PIA) Bend
(AWI)
(COLA)a
Pointb
Coverage
Maximum)
Pointb
(Credit)c
1981
13,773.10
10.07%
14.3%
29,700
211
1,274
310
1982
14,531.34
5.51%
11.2%
32,400
230
1,388
340
1983
15,239.24
4.87%
7.4%
35,700
254
1,528
370
1984
16,135.07
5.88%
3.5%
37,800
267
1,612
390
1985
16,822.51
4.26%
3.5%
39,600
280
1,691
410
1986
17,321.82
2.97%
3.1%
42,000
297
1,790
440
1987
18,426.51
6.38%
1.3%
43,800
310
1,866
460
1988
19,334.04
4.93%
4.2%
45,000
319
1,922
470
1989
20,099.55
3.96%
4.0%
48,000
339
2,044
500
1990
21,027.98
4.62%
4.7%
51,300
356
2,145
520
1991
21,811.60
3.73%
5.4%
53,400
370
2,230
540
1992
22,935.42
5.15%
3.7%
55,500
387
2,333
570
1993
23,132.67
0.86%
3.0%
57,600
401
2,420
590
1994
23,753.53
2.68%
2.6%
60,600
422
2,545
620
1995
24,705.66
4.01%
2.8%
61,200
426
2,567
630
1996
25,913.90
4.89%
2.6%
62,700
437
2,635
640
1997
27,426.00
5.84%
2.9%
65,400
455
2,741
670
1998
28,861.44
5.23%
2.1%
68,400
477
2,875
700
1999
30,469.84
5.57%
1.3%
72,600
505
3,043
740
2000
32,154.82
5.53%
2.5%
76,200
531
3,202
780
2001
32,921.92
2.39%
3.5%
80,400
561
3,381
830
2002
33,252.09
1.00%
2.6%
84,900
592
3,567
870
2003
34,064.95
2.44%
1.4%
87,000
606
3,653
890
2004
35,648.55
4.65%
2.1%
87,900
612
3,689
900
2005
36,952.94
3.66%
2.7%
90,000
627
3,779
920
2006
38,651.41
4.60%
4.1%
94,200
656
3,955
970
2007
40,405.48
4.54%
3.3%
97,500
680
4,100
1,000
2008
41,334.97
2.30%
2.3%
102,000
711
4,288
1,050
2009
40,711.61
-1.51%
5.8%
106,800
744
4,483
1,090
2010
41,673.83
2.36%
0.0%
106,800
761
4,586
1,120
2011
42,979.61
3.13%
0.0%
106,800
749
4,517
1,120
2012
44,321.67
3.12%
3.6%
110,100
767
4,624
1,130
2013
44,888.16
1.28%
1.7%
113,700
791
4,768
1,160
2014
46,481.52
3.55%
1.5%
117,000
816
4,917
1,200
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Amount
Contribution First Primary
Average
Cost-of-
Second
Needed to
Annual
and Benefit
Insurance
Wage
Living
PIA
Earn One
Year
Change
Base
Amount
Index
Adjustment
Bend
Quarter of
(AWI)
(Taxable
(PIA) Bend
(AWI)
(COLA)a
Pointb
Coverage
Maximum)
Pointb
(Credit)c
2015
48,098.63
3.48%
1.7%
118,500
826
4,980
1,220
2016
48,642.15
1.13%
0.0%
118,500
856
5,157
1,260
2017
50,321.89
3.45%
0.3%
127,200
885
5,336
1,300
2018
52,145.80
3.62%
2.0%
128,400
895
5,397
1,320
2019
54,099.99
3.75%
2.8%
132,900
926
5,583
1,360
2020
55,628.60
2.83%
1.6%
137,700
960
5,785
1,410
2021
60,575.07
8.89%
1.3%
142,800
996
6,002
1,470
2022

5.9%
147,000
1,024
6,172
1,510
2023

8.7%
160,200
1,115
6,721
1,640
Source: CRS.
Notes: Dashes indicate data not available.
a. Automatic COLAs became effective in 1975 as part of P.L. 92-336. Prior to this, each COLA was approved
through legislation. For more information, see CRS Report 94-803, Social Security: Cost-of-Living Adjustments.
b. Prior to 1978, the Social Security benefit amounts were calculated using a process that coupled wage and
price inflation. P.L. 95-216 decoupled price and wage inflation in benefit calculations and instituted the
current-law benefit formula.
c. Prior to 1978, a worker earned a quarter of coverage for each quarter in which he or she earned $50 in
covered employment. P.L. 95-216 stipulated that a quarter of coverage for 1978 would be $250, and that
amount would be indexed annually to the average wage index.
Table B-2. Social Security Benefit Amounts, Full Retirement Age (FRA), and Delayed
Retirement Credits (DRCs) by Birth Year
As a Percentage of Primary Insurance Amount (PIA) at Ages 62-70
Year of
F
D
Birth/
R
R
62
63
64
65
66
67
68
69
70
Age 62
A
C
1924/1986
65
3%
80%
86 2⁄3%
93 1⁄3%
100%
103%
106%
109%
112%
115%
1925-1926/
65
3 1⁄
1987-1988
2
80
86 2⁄3
93 1⁄3
100
103 1⁄2
107
107 1⁄2
114
117 1⁄2
1927-1928/
65
4
80
86 2⁄
1989-1990
3
93 1⁄3
100
104
108
112
116
120
1929-1930/
65
4 1⁄
1991-1992
2
80
86 2⁄3
93 1⁄3
100
104 1⁄2
109
113 1⁄2
118
122 1⁄2
1931-1932/
65
5
80
86 2⁄
1993-1994
3
93 1⁄3
100
105
110
115
120
125
1933-1934/
65
5 1⁄
1995-1996
2
80
86 2⁄3
93 1⁄3
100
105 1⁄2
111
116 1⁄2
122
127 1⁄2
1935-1936/
65
6
80
86 2⁄
1997-1998
3
93 1⁄3
100
106
112
118
124
130
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Social Security: Benefit Calculation

Year of
F
D
Birth/
R
R
62
63
64
65
66
67
68
69
70
Age 62
A
C
1937/1999
65
6 1⁄2
80
86 2⁄3
93 1⁄3
100
106 1⁄2
113
119 1⁄2
126
132 1⁄2
1938/2000
65, 2
6 1⁄
mo.
2
79 1⁄6
85 5⁄9
92 2⁄9
98 8⁄9
105 5⁄12
111 11⁄12
118 5⁄12
124 11⁄12
131 5⁄12
65, 4
1939/2001
mo.
7
78 1⁄3
84 4⁄9
91 1⁄9
97 7⁄9
104 2⁄3
111 2⁄3
118 2⁄3
125 2⁄3
132 2⁄3
65, 6
1940/2002
mo.
7
77 1⁄2
83 1⁄3
90
96 2⁄3
103 1⁄2
110 1⁄2
117 1⁄2
124 1⁄2
131 1⁄2
65, 8
1941/2003
mo.
7 1⁄2
76 2⁄3
82 2⁄9
88 8⁄9
95 5⁄9
102 1⁄2
110
117 1⁄2
125
132 1⁄2
65,
1942/2004
10
7 1⁄2
75 5⁄6
81 1⁄9
87 7⁄9
94 4⁄9
101 1⁄4
108 3⁄4
116 1⁄4
123 3⁄4
131 1⁄4
mo.
1943-1954/
66
8
75
80
86 2⁄
2005-2016
3
93 1⁄3
100
108
116
124
132
1955/2017
66, 2
8
74 1⁄
mo.
6
79 1⁄6
85 5⁄9
92 2⁄9
98 8⁄9
106 2⁄3
114 2⁄3
122 2⁄3
130 2⁄3
66, 4
1956/2018
mo.
8
73 1⁄3
78 1⁄3
84 4⁄9
91 1⁄9
97 7⁄9
105 1⁄3
113 1⁄3
121 1⁄3
129 1⁄3
66, 6
1957/2019
mo.
8
72 1⁄2
77 1⁄2
83 1⁄3
90
96 2⁄3
104
112
120
128
66, 8
1958/2020
mo.
8
71 2⁄3
76 2⁄3
82 2⁄9
88 8⁄9
95 5⁄9
102 2⁄3
110 2⁄3
118 2⁄3
126 2⁄3
66,
1959/2021
10
8
70 5⁄6
75 5⁄6
81 1⁄9
87 7⁄9
94 4⁄9
101 1⁄3
109 1⁄3
117 1⁄3
125 1⁄3
mo.
1960 and
later
67
8
70
75
80
86 2⁄
/2022 or
3
93 1⁄3
100
116
124
124
later
Source: CRS.
Notes: If benefits are claimed before reaching FRA (i.e., early retirement), the PIA is reduced five-ninths of 1%
for each month before FRA, up to 36 months. If the number of months is greater than 36, then the PIA is further
reduced five-twelfths of 1% for each month. The DRC is two-thirds of 1% per month for persons born in 1943
or later. DRCs cannot be earned after attaining age 70.
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Appendix C. Auxiliary Benefits
Table C-1. Social Security Benefits for the Worker’s Family Members
Basic Benefit Amount
Basis for
Before Any Applicable
Entitlement
Basic Eligibility Requirements
Adjustments
Spouse
At least age 62, or
50% of worker’s PIA
Any age if caring for the child of a retired or
disabled worker. The child must be under the age
of 16 or disabled, and the child must be entitled to
benefits.
Divorced Spouse
At least age 62.
50% of worker’s PIA
(The divorced individual Must be unmarried.
must have been
Note: A divorced spouse who is under the age of
married to the worker
62 is not eligible for spousal benefits even if he or
for at least 10 years
she is caring for the child of a retired or disabled
before the divorce
worker.
became final.)
Aged Widow(er)
At least age 60.
100% of worker’s PIAa
and
Must be unmarried (unless the marriage occurred
Divorced Aged
after attainment of age 60).
Widow(er)
(The divorced individual
must have been
married to the worker
for at least 10 years
before the divorce
became final.)
Disabled Widow(er)
At least age 50 (ages 50-59).
71.5% of worker’s PIAa
and
Must be unmarried (unless the marriage occurred
Disabled widow(er)s and
Divorced Disabled
after attainment of age 50).
divorced disabled
Widow(er)
The qualifying disability must have occurred:
widow(er)s ages 50-59
(The divorced individual
receive the same rate of
(1) before or within seven years of the worker’s
must have been
reduction set for
death;
married to the worker
widow(er)s at age 60
for at least 10 years
(2) within seven years of having been previously
(28.5% of the worker’s
before the divorce
entitled to benefits on the worker’s record as a
PIA) regardless of their age
became final.)
widow(er) with a child in his or her care; or
at the time of entitlement
(3) within seven years of having been previously
entitled to benefits as a disabled widow(er) that
ended because the qualifying disability ended
(whichever is later).
Congressional Research Service
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Social Security: Benefit Calculation

Basic Benefit Amount
Basis for
Before Any Applicable
Entitlement
Basic Eligibility Requirements
Adjustments
Widowed Mother or
Surviving spouse of any age who is caring for the
75% of deceased worker’s
Father
deceased worker’s child. The child must be under
PIA
(Young Widow(er)
the age of 16 or disabled, and the child must be
with Child)
entitled to benefits.
Must be unmarried.
Must not be entitled to widow(er)’s benefits.
Note: In the case of a surviving divorced parent, the
child must be his or her natural or legally adopted
child. The 10-year marriage requirement that
applies to divorced spouses under other
circumstances does not apply.
Child
A dependent, unmarried child of a retired, disabled,
50% of worker’s PIA for
or deceased worker.
child of a retired or
The child must be:
disabled worker
(1) under the age of 18,
75% of deceased worker’s
PIA for child of a deceased
(2) a full-time elementary or secondary student
worker
under the age of 19, or
(3) a disabled person aged 18 or older whose
disability began before age 22.
The term child refers to a biological child, adopted
child, stepchild, or, in some cases, grandchild of the
worker.
Dependent Parent
At least age 62.
82.5% of deceased
of a Deceased
Must not have married since the worker’s death.
worker’s PIA if one parent
Worker
is entitled to benefits
Must have been receiving at least one-half of his or
her support from the worker at the time of the
75% of deceased worker’s
worker’s death (or, if the worker had a period of
PIA (for each parent) if two
disability that continued until death, at the beginning parents are entitled to
of the period of disability).
benefits
Source: CRS. For more information on auxiliary benefits, see CRS Report R41479, Social Security: Revisiting
Benefits for Spouses and Survivors.
Notes: The family relationship requirement for entitlement to benefits based on the worker’s record may be
met in alternative ways. For example, the relationship requirement can be met if, under state law as interpreted
by the courts of the state, the applicant would be able to inherit a share of the worker’s personal property if the
worker were to die without leaving a will. The table shows the minimum eligibility age for each type of benefit
(i.e., the age at which benefits are first payable on a reduced basis). The maximum family benefit may apply,
reducing the benefit payable to each family member (excluding the worker) on a proportional basis. In the case
of a retired or deceased worker, the maximum family benefit varies from 150% to 188% of the worker’s PIA. In
the case of a disabled worker, the maximum family benefit is equal to the lesser of 85% of the worker’s AIME or
150% of the worker’s PIA but no less than 100% of the worker’s PIA. Other benefit adjustments may apply.
a. A worker’s claiming age affects the widow(er) benefit. If a worker was receiving a reduced benefit due to
claiming benefits before the full retirement age, the widow(er) benefit cannot exceed the worker’s reduced
benefit amount. Alternatively, if a worker was entitled (or would have been entitled) to a higher benefit due
to claiming benefits after the full retirement age, the worker’s PIA—adjusted to take into account the
delayed retirement credit—is used to compute the widow(er) benefit, thereby increasing the benefit.

Congressional Research Service
24

Social Security: Benefit Calculation

Author Information

Barry F. Huston

Analyst Social Policy

Disclaimer
This document was prepared by the Congressional Research Service (CRS). CRS serves as nonpartisan
shared staff to congressional committees and Members of Congress. It operates solely at the behest of and
under the direction of Congress. Information in a CRS Report should not be relied upon for purposes other
than public understanding of information that has been provided by CRS to Members of Congress in
connection with CRS’s institutional role. CRS Reports, as a work of the United States Government, are not
subject to copyright protection in the United States. Any CRS Report may be reproduced and distributed in
its entirety without permission from CRS. However, as a CRS Report may include copyrighted images or
material from a third party, you may need to obtain the permission of the copyright holder if you wish to
copy or otherwise use copyrighted material.

Congressional Research Service
R46658 · VERSION 4 · UPDATED
25

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