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2. 3 Things All Retirees Need to Know About Social Security COLAs

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   Here are three things all retirees need to know. Two Social Security cards laying on top of a pile of cash. Image source: Getty Images. 1. How the government calculates the COLA. A basic ...

3. Here Are the Average Social Security Benefits at Ages 62, 67 ...

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   70. $1,963. $2,180. $1,744. Data source: Social Security Administration. Benefits rounded to the nearest whole dollar. Again, these amounts will likely change because of COLAs, but it gives ...

4. Here's the Average Social Security Benefit at Ages 62 and 67

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   Based on data from the SSA's Office of the Actuary, a little over 590,000 aged 62 retired-worker beneficiaries took home an average check of $1,298.26 in December 2023. Comparatively, the nearly 2 ...

5. Average Indexed Monthly Earnings - Wikipedia

   en.wikipedia.org/wiki/Average_Indexed_Monthly...

   The Average Indexed Monthly Earnings (AIME) is used in the United States ' Social Security system to calculate the Primary Insurance Amount which decides the value of benefits paid under Title II of the Social Security Act under the 1978 New Start Method. Specifically, Average Indexed Monthly Earnings is an average of monthly income received by ...

6. Social Security Administration - Wikipedia

   en.wikipedia.org/wiki/Social_Security_Administration

   The United States Social Security Administration (SSA) [2] is an independent agency of the U.S. federal government that administers Social Security, a social insurance program consisting of retirement, disability and survivor benefits. To qualify for most of these benefits, most workers pay Social Security taxes on their earnings; the claimant ...

7. Employee Retirement Income Security Act of 1974 - Wikipedia

   en.wikipedia.org/wiki/Employee_Retirement_Income...

   The Employee Retirement Income Security Act of 1974 (ERISA) (Pub. L. 93–406, 88 Stat. 829, enacted September 2, 1974, codified in part at 29 U.S.C. ch. 18) is a U.S. federal tax and labor law that establishes minimum standards for pension plans in private industry. It contains rules on the federal income tax effects of transactions associated ...