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How much is Mike and Maria's Social Security benefits worth today? RETIREMENT INFORMATION Mike would like to retire at age 60 and quit working. Mike

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How much is Mike and Maria's Social Security benefits worth today?

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RETIREMENT INFORMATION Mike would like to retire at age 60 and quit working. Mike met the requirements for the MLB minimum pension of $34,000 per year, which is what he expects to receive. This pension begins at age 62 and the amount is fixed for life (both his and his spouse's life). It is not inflation adjusted from today or during retirement. Mike expects his Social Security benefits will equal $30,000 in today's dollars at full retirement age, which is age 67. Maria does not have 40 quarters of Social Security coverage

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