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How the government calculates your Social Security benefits - The Motley Fool
Your Social Security benefit is calculated based on your highest 35 years of earnings, adjusted for wage growth, and then applied to a formula that determines your Primary Insurance Amount (PIA). However, this amount can be adjusted based on specific factors. Kailey Hagen, writing for The Motley Fool, explains how your Social Security check is determined; also, what you can do to boost your future benefits. Read Ms. Hagen’s article here…
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If the federal government did not get contributions from emploooyers but took money out of. you check is that recorded?
Patricia:
Thank you for the question. I will assume you are describing a situation where earnings information is not showing up on your SSA earnings record. If you have proof that an employer has withheld taxes from your earnings (e.g., pay stubs, a W2 showing tax withholding, direct deposit statements, etc.) that have not been reflected in your SSA record, you will need to address this via IRS form 3949-A, Information Referral. The IRS will follow up with the employer involved for an explanation. Meanwhile, you should forward your proof of unrecorded tax withholdings to the Social Security Administration and request consideration for an earnings record adjustment.
If you have any further questions, please contact our AMAC Foundation Social Security Advisory Service at 888-750-2622, or via email at SSAdvisor@AmacFoundation.org.
Gerry Hafer, AMAC Social Security Advisor
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