starting salary is $5,000 in year 1973
Step 1: Enter your earnings in Column B, but not more than the amount shown in Column A. If you have no earnings, enter"0." Step 2: Multiply the amounts in Column B by the index factors in Column C, and enter the results in Column D. This gives you your indexed earnings, or the estimated value of your earnings in current dollars. Step 3: Choose from Column D the 35 years with the highest amounts. Add these amounts. $ Step 4: Divide the result from Step 3 by 420 (the number of months in 35 years). Round down to the next lowest dollar. This will give you your average indexed monthly earnings. $ Step 5: a. Multiply the first $885 in Step 4 by 90%. $_ b. Multiply the amount in Step 4 over $885, and less than or equal to $5,336, by 32%. $_ c. Multiply the amount in Step 4 over $5,336 by 15%. $ Step 6: Add a, b, and c from Step 5. Round down to the next lowest dollar. This is your estimated monthly retirement benefit at age 66 and 2 months, your full retirement age. $_ Step 7: Multiply the amount in Step 6 by 74.167%. This is your estimated monthly retirement benefit if you retire at age 62. $ D. Indexed earnings D. Indexed earnings 2.78 A. B. C. Year Maximum Actual Index earnings earnings factor 1956 $4,200 13.62 1957 $4,200 13.21 1958 $4,200 13.09 1959 $4,800 12.47 1960 $4,800 12.00 1961 $4,800 11.77 1962 $4,800 11.21 1963 $4,800 10.94 1964 $4,800 10.51 1965 $4,800 10.32 1966 $6,600 9.74 1967 $6,600 9.23 1968 $7,800 8.63 1969 $7,800 8.16 1970 $7,800 7.78 1971 $7,800 7.40 1972 $9,000 6.74 1973 $10,800 6.35 1974 $13,200 5.99 1975 $14,100 1976 $15,300 5.21 1977 $16,500 4.92 1978 $17,700 4.56 1979 $22,900 4.19 1980 $25,900 3.84 1981 $29,700 3.49 1982 $32,400 3.31 1983 $35,700 3.16 1984 $37,800 2.98 1985 $39,600 2.86 A. B. C. Year Maximum Actual Index earnings earnings factor 1986 $42,000 1987 $43,800 2.61 1988 $45,000 2.49 1989 $48,000 2.39 1990 $51,300 2.29 1991 $53,400 2.21 1992 $55,500 2.10 1993 $57,600 2.08 1994 $60,600 2.02 1995 $61,200 1.95 1996 $62,700 1.86 1997 $65,400 1.75 1998 $68,400 1.67 1999 $72,600 1.58 2000 $76,200 1.50 2001 $80,400 1.46 2002 $84,900 1.45 2003 $87,000 1.41 2004 $87,900 1.35 2005 $90,000 1.30 2006 $94,200 1.24 2007 $97,500 1.19 2008 $102,000 1.16 2009 $106,800 1.18 $106,800 1.15 2011 $ 106,800 1.12 2012 $110,100 1.09 2013 $113,700 1.07 2014 $117.000 1.03 2015 $118,500 1.00 2016 $118,500 1.00 5.57 2010 Step 1: Enter your earnings in Column B, but not more than the amount shown in Column A. If you have no earnings, enter"0." Step 2: Multiply the amounts in Column B by the index factors in Column C, and enter the results in Column D. This gives you your indexed earnings, or the estimated value of your earnings in current dollars. Step 3: Choose from Column D the 35 years with the highest amounts. Add these amounts. $ Step 4: Divide the result from Step 3 by 420 (the number of months in 35 years). Round down to the next lowest dollar. This will give you your average indexed monthly earnings. $ Step 5: a. Multiply the first $885 in Step 4 by 90%. $_ b. Multiply the amount in Step 4 over $885, and less than or equal to $5,336, by 32%. $_ c. Multiply the amount in Step 4 over $5,336 by 15%. $ Step 6: Add a, b, and c from Step 5. Round down to the next lowest dollar. This is your estimated monthly retirement benefit at age 66 and 2 months, your full retirement age. $_ Step 7: Multiply the amount in Step 6 by 74.167%. This is your estimated monthly retirement benefit if you retire at age 62. $ D. Indexed earnings D. Indexed earnings 2.78 A. B. C. Year Maximum Actual Index earnings earnings factor 1956 $4,200 13.62 1957 $4,200 13.21 1958 $4,200 13.09 1959 $4,800 12.47 1960 $4,800 12.00 1961 $4,800 11.77 1962 $4,800 11.21 1963 $4,800 10.94 1964 $4,800 10.51 1965 $4,800 10.32 1966 $6,600 9.74 1967 $6,600 9.23 1968 $7,800 8.63 1969 $7,800 8.16 1970 $7,800 7.78 1971 $7,800 7.40 1972 $9,000 6.74 1973 $10,800 6.35 1974 $13,200 5.99 1975 $14,100 1976 $15,300 5.21 1977 $16,500 4.92 1978 $17,700 4.56 1979 $22,900 4.19 1980 $25,900 3.84 1981 $29,700 3.49 1982 $32,400 3.31 1983 $35,700 3.16 1984 $37,800 2.98 1985 $39,600 2.86 A. B. C. Year Maximum Actual Index earnings earnings factor 1986 $42,000 1987 $43,800 2.61 1988 $45,000 2.49 1989 $48,000 2.39 1990 $51,300 2.29 1991 $53,400 2.21 1992 $55,500 2.10 1993 $57,600 2.08 1994 $60,600 2.02 1995 $61,200 1.95 1996 $62,700 1.86 1997 $65,400 1.75 1998 $68,400 1.67 1999 $72,600 1.58 2000 $76,200 1.50 2001 $80,400 1.46 2002 $84,900 1.45 2003 $87,000 1.41 2004 $87,900 1.35 2005 $90,000 1.30 2006 $94,200 1.24 2007 $97,500 1.19 2008 $102,000 1.16 2009 $106,800 1.18 $106,800 1.15 2011 $ 106,800 1.12 2012 $110,100 1.09 2013 $113,700 1.07 2014 $117.000 1.03 2015 $118,500 1.00 2016 $118,500 1.00 5.57 2010
