I understand that SS will recalculate my benefit due to additional wages reported. I reached full retirement age January 1, 2022 (my DOB is 11/24/1955) and so applied for those benefits to start at that time. I retired 12/31/2021 and so had wages from all of 2021. Those 2021 wages were not used in the calculation for my benefit since they were not reported at that time. My question is when SS does finally conduct a recalculation that will include my additional 2021 wages, will my increased benefit be retroactive back to 01/01/2022? I have read that annual recalculations are done in July or August so it seems that the new benefit should include any back amount due that would have been paid had those wages been reported in time for them to be included in the original calculation.
Thank you.
Hi. Yes, your benefit rate should be automatically recalculated to credit you with your 2021 earnings, and Social Security usually does those recalculations in August or September of the following year. And, yes, when the recomputation is processed you'll be paid any back pay that you are due retroactive to January 2022.
Best, Jerry