Ask Larry

Should My Benefit Amount Be Recalculated After Each Additional Year I Work?

My full retirement age was 66. I have been collecting SS since my full retirement for 2 yrs. I am now 68 and never stopped working and have continued to put into SS about $350.00 a month for the last 2 years. Should my SS be recalculated for each additional years I work since I continue to put back into SS?

Hi. Social Security retirement benefits are based on an average of a person's highest 35 years of Social Security covered wage-indexed earnings, so your earnings since claiming benefits would only increase your benefit rate if you've earned more than you did in one of your previous highest 35 years of wage-indexed earnings.

Social Security should automatically recalculate your benefit amount if you have a high enough year of earnings to increase your benefit rate, but if you think that you're due an increase and haven't received one you can submit a written and signed request to Social Security asking for a manual recomputation.

Best, Jerry

Category: 
Posted: 
Aug 1 2022 - 5:51pm
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.