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Old 06-08-2009, 10:13 AM
Janke Janke is offline
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Join Date: Sep 2008
Posts: 686
15 yr Member
Janke Janke is offline
Member
 
Join Date: Sep 2008
Posts: 686
15 yr Member
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Do you get a Social Security Statement each year? Since you had a prior claim, you might not, but you can ask SSA to send you an estimate. Or you can try to compute it yourself, but that is EXTREMELY complicated. Here is the Wiki link on computation of the Primary Insurance Amount (PIA).
http://en.wikipedia.org/wiki/Primary_Insurance_Amount

The PIA is the basis for all benefit computations. Also, the Disability Family Maximum (DFMAX) may also come into play for the children's benefits because you are young and do not have a large number of lifetime credits. The children may not get as much as they would if you were 62 and retiring.

Whatever the amount, remember that Social Security was designed to be only a 1/3 part of retirement income and you will absolutely have significantly less income on Social Security than when working. Also, there are diminishing returns on increased wages since the replacement rates in the PIA comp are a smaller percentage as you earn more money. This is the tier system, like a wedding cake.

Call SSA. 1-800-772-1213. Ask for a benefit estimate. Now, generally the employees who answer the phone are the lower level service reps who do not process claims and don't know all the nuances of complicated computations.
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