How does Social Security calculate the amount of my benefits?

The amount of monthly Social Security disability benefits for individuals in Washington is determined by several factors. Social Security uses a formula called the Primary Insurance Amount based on a person’s average lifetime earnings. This formula considers the amount of a person’s work history and earnings over their working career to determine the amount of benefits that person can receive. Generally, people who have worked and paid Social Security taxes for a longer period of time will receive a higher monthly benefit. Other factors may also affect the amount of a person’s benefits. These can include different types of income the individual and/or their family receive, the number of dependents the individual has, and any other government programs the individual may be eligible for. The Social Security Administration (SSA) also takes into consideration any cost of living increases that may have occurred since a person first started receiving benefits. If an individual is entitled to higher benefits due to inflation, they may receive a Cost-of-Living Adjustment (COLA) every year. Finally, Social Security may add a marriage bonus to a person’s benefits if they are married. This bonus may be added to the primary insurance amount and can make the total amount of benefits the couple receives higher than what the individual would receive alone. The Social Security Administration uses all of these factors to determine a person’s final monthly benefit amount. It is important to note that the amount of disability benefits a person receives can change depending on their work history and other income.

How does Social Security calculate the amount of my benefits?

Related FAQs

Related Blog Posts