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So I was looking at my SS statement from January 2023 after reading the latest SS survivor thread.
I was surprised to that my wife's survivor benefit was showing less than my FRA amount. Initially I thought it was because I'm only 59 and I figured there was some reduction for age and/or not collecting yet.
Imagine my surprise when I looked at my current statement and the estimates were different (lower than January's statement). Both statements have the correct 2022 earnings. The age 62 amount is the same but the rest are not. Any ideas why the change?
January 23, 2023
Personalized Monthly Retirement Benefit Estimates
(Depending on the Age You Start) Age Retirement Benefits Start
Monthly Benefit Amount 62 $2,206
67 $3,237
70 $4,065
October 16, 2023
Personalized Monthly Retirement Benefit Estimates
(Depending on the Age You Start) Age Retirement Benefits Start
Monthly Benefit Amount 62 $2,206
67 $3,134
70 $3,886
Guess. Your 2022 data was not added to your account until after Jan 2022.
Your earnings for 2022 were lower than one of the prior years.
The calculation uses 35(?) years of wages if you have them so if you do not your benefit would have been reduced if the 2022 earnings were lower
Guess. Your 2022 data was not added to your account until after Jan 2022.
Your earnings for 2022 were lower than one of the prior years.
The calculation uses 35(?) years of wages if you have them so if you do not your benefit would have been reduced if the 2022 earnings were lower
My earnings record and taxes paid are exactly the same on both statements. I have well over 35 years wages. My 2022 earnings were the sixth highest.
I guess I'll have to call SS to see if they can explain it.
Apparently SS is too busy to answer the phone. I guess I'll try again later in the week.
In order to estimate your future benefit the SSA makes assumptions about the increases in the wage cap. If those assumptions changed your estimated benefit might change.
Our records show you viewed future benefit estimates in your online Social Security Statement, between September 23, 2023, and October 27, 2023. We determined that the monthly estimates presented to you in the bar chart, for ages 63 and older, may have been lower than what they should have been. We have fixed this issue and invite you to sign in to your personal “my Social Security” account to view your correct benefit estimates that are now available.
So I was looking at my SS statement from January 2023 after reading the latest SS survivor thread.
I was surprised to that my wife's survivor benefit was showing less than my FRA amount. Initially I thought it was because I'm only 59 and I figured there was some reduction for age and/or not collecting yet.
Imagine my surprise when I looked at my current statement and the estimates were different (lower than January's statement). Both statements have the correct 2022 earnings. The age 62 amount is the same but the rest are not. Any ideas why the change?
January 23, 2023
Personalized Monthly Retirement Benefit Estimates
(Depending on the Age You Start) Age Retirement Benefits Start
Monthly Benefit Amount 62 $2,206
67 $3,237
70 $4,065
October 16, 2023
Personalized Monthly Retirement Benefit Estimates
(Depending on the Age You Start) Age Retirement Benefits Start
Monthly Benefit Amount 62 $2,206
67 $3,134
70 $3,886
We're about your age. I think this is our cue to start taking it at 62.
Our records show you viewed future benefit estimates in your online Social Security Statement, between September 23, 2023, and October 27, 2023. We determined that the monthly estimates presented to you in the bar chart, for ages 63 and older, may have been lower than what they should have been. We have fixed this issue and invite you to sign in to your personal “my Social Security” account to view your correct benefit estimates that are now available.
We're about your age. I think this is our cue to start taking it at 62.
I'm planning to wait until 67 or 70, mainly for survivor benefits for my spouse. She's 4 years younger than I am and even though we both have a variety of issues, statistically she should out live me.
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