Hi Larry.. i am 67 (born in 1953) I have applied for spousal benefits. I am currently working at the highest pay ever. I have past quarters that are 0. Does social security fill in those 0 quarters with what im currently making/contributing now even tho i am of full retirement age?
Hi,
Yes. Your Social Security retirement benefit rate is based on an average of your highest 35 years of wage-indexed earnings. If you continue working and paying Social Security taxes you can potentially increase your Social Security retirement benefit rate by replacing lower earnings years with higher earnings years. It doesn't matter how old you are when you produce the earnings, nor whether or not you're already drawing benefits. Your Social Security retirement benefit rate will only increase, though, if you earn more in a year than you did in one of your previous highest 35 years of wage-indexed earnings.
Best, Jerry