Page 20 - Book12E

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Estimating Your Social Security Retirement Benefit
Step 1: Enter your actual earnings in Column B, but do not enter more than the amount shown in Column A. If you have no earnings enter “0”.
Step 2: Multiply the amounts in Column B by the index factors in Column C, and enter the results in Column D. This gives you your indexed earnings or the approximate value of your earnings in current dollars.
Step 3: Choose from Column D the 35 years with the highest amounts. Add these amounts. $_________
Step 4: Divide the result from Step 3 by 420 (the number of months in 35 years). Round down to the next lowest dollar. This will give you your average indexed monthly earnings. $_________
Step 5a: Multiply the first $791 in Step 4 by 90%. $_________ Step 5b: Multiply the amount in Step 4 over $791 and less than or
equal to $4,768 by 32%. $_________
Step 5c: Multiply the amount in Step 4 over $4,768 by 15%. $__________
Step 6: Add a, b, and c from Step 5. Round down to the next lowest dollar. This is your estimated monthly retirement benefit at age 66, your full retirement age. $_________
Step 7: Multiply the amount in Step 6 by 75%. This is your estimated monthly retirement benefit if you retire at age 62. $_________
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