Social Security Calculator
Calculate your Social Security retirement benefits based on your earnings history, retirement age, and benefit type. Includes full retirement age calculations and early/late retirement adjustments.
Benefit Summary
Benefit Comparison
Benefit Details
Understanding Social Security Benefits
Social Security provides retirement, disability, and survivor benefits to millions of Americans. Your benefit amount depends on your earnings history, retirement age, and benefit type. Understanding how the system works can help you maximize your benefits.
Full Retirement Age (FRA)
| Year of Birth | Full Retirement Age | Months |
|---|---|---|
| 1943-1954 | 66 | 0 |
| 1955 | 66 | 2 |
| 1956 | 66 | 4 |
| 1957 | 66 | 6 |
| 1958 | 66 | 8 |
| 1959 | 66 | 10 |
| 1960+ | 67 | 0 |
Early Retirement Reductions
If you retire before your full retirement age, your benefits are permanently reduced. The reduction is 5/9% per month for the first 36 months and 5/12% per month thereafter.
Early Retirement Reduction Example
For someone with FRA of 67 retiring at 62:
60 months early × 5/9% = 33.3% reduction
Monthly benefit would be 66.7% of FRA amount
Delayed Retirement Credits
Delaying retirement past your full retirement age increases your monthly benefit. You earn 8% per year (2/3% per month) until age 70, when increases stop.
Delayed Retirement Example
Delaying from FRA 67 to age 70:
36 months × 2/3% = 24% increase
Monthly benefit would be 124% of FRA amount
Benefit Calculation Formula
Primary Insurance Amount (PIA)
Your monthly benefit at full retirement age
- 90% of first $1,174 of AIME
- 32% of AIME from $1,175-$7,078
- 15% of AIME over $7,078
- Adjusted annually for inflation
Average Indexed Monthly Earnings (AIME)
Your average monthly earnings, indexed for inflation
- Based on 35 highest-earning years
- Earnings indexed to age 60
- Zero years count as zero
- Capped at Social Security wage base
Spousal and Survivor Benefits
Spouse Benefits
- 50% of spouse's PIA
- Available at FRA
- Can switch to own benefit
- Reduced if spouse claims early
Survivor Benefits
- 100% of deceased's benefit
- Available at any age if caring for child
- Reduced if survivor is FRA or older
- Can be higher than own benefit
Benefit Adjustments
| Situation | Adjustment | Notes |
|---|---|---|
| Government Pension | Windfall Elimination Provision | Reduces Social Security benefit |
| Workers' Comp | Offset by workers' comp payments | Reduces disability benefits |
| Taxes | Up to 85% taxable | Depends on other income |
| Cost of Living | COLA adjustments | Annual increases |
Planning Strategies
Maximize Earnings
Work longer to increase AIME
35 highest years count
Delay claiming if possible
Spousal Coordination
Higher earner delays claiming
Lower earner claims early
Optimize survivor benefits
Tax Planning
Consider tax implications
Plan withdrawals strategically
Use tax-advantaged accounts
Key Takeaways
- Social Security benefits are based on your 35 highest-earning years
- Full retirement age ranges from 66 to 67 depending on birth year
- Early retirement reduces benefits permanently (up to 30% at age 62)
- Delayed retirement increases benefits (up to 8% per year until age 70)
- Spouse and survivor benefits can provide additional income
- Benefits are adjusted annually for cost of living
- Up to 85% of benefits may be taxable depending on income
- Planning your claiming strategy is crucial for maximizing benefits