How is it determined what my monthly SS amount will be when I retire
2007-04-28 01:43:31 · 3 answers · asked by bstnrs 1 in Business & Finance ➔ Taxes ➔ United States
Visit the Social Security Website and you can request a statement to be sent to you, there is a spot on the site that explains how they come up with the formula
http://www.socialsecurity.gov/
2007-04-28 02:22:41 · answer #1 · answered by Anonymous · 0⤊ 0⤋
by the amount of money you earn each year ... you should get a yearly statement from the government detailing how much you earned (reported to the IRS, that's why that box is on the tax forms) ... and then after working a certain amount of time, they calculate your potential benefit amounts
2007-04-28 08:47:20 · answer #2 · answered by ? 4 · 1⤊ 1⤋
You have to contact social security and ask them. They keep altering and changing the formula and it is different now from last year and the year before. They can give you a projected idea of your benefits, too.
2007-04-28 12:26:01 · answer #3 · answered by acmeraven 7 · 0⤊ 1⤋