Ask Larry

Will My Benefit Amount Be Reevaluated Annually To Include My New Salary?

I start ed taking my SS benefits at full retirement age. But i started a new position with a salary increase. Will my SS benefits amount be reevaluated up annually to include my new salary?

Hi,

Yes, your Social Security retirement benefit rate can be recomputed following any year in which you have Social Security covered earnings. Your earnings would have to be higher than in one of your previous 35 highest wage- indexed earnings years in order to result in a benefit increase, however.

Social Security automatically recomputes benefit rates on an annual basis, but you may be able to speed up the process by submitting proof of your earnings (e.g. W-2 form) and requesting a manual recomputation.

Best, Jerry

Posted: 
Nov 1 2019 - 9:31am
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