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Knowing How Benefits are Calculated is Important…Here’s Why!

 Anyone looking ahead to claiming their Social Security retirement benefits should have a clear understanding of the math behind that monthly payment. If their work record does not contain a full 35 years of income on which FICA tax has been assessed, the calculation process will arbitrarily add zeros to get to the full 35. A post by The Motley Fool’s Maurie Backman on their website explains how this situation can affect the claimant, and offers thoughts on what to do about it. Check her post out here. Also, for a complete explanation on the calculation process, check out this post from yesterday on this site. Also, for a complete explanation on the calculation process, check out this post from yesterday on this site.
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