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Max Social Security Monthly Benefit

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Photo_user_blank_big

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Posted 11 months ago

 

Does anyone know what this limit is and in simple terms how is is determine? Thanks

Runningcam_max50

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Rate This | Posted 11 months ago

 

Here is the table for each year since 1937 that shows what the maximum earnings was (2007 was $97,500) http://www.socialsecurity.gov/OACT/COLA/cbb.html. Now that you know the maximum earnings, you can use the quick calculater to see an estimate of the payment (if you made the maximum all the time, then you would max out at $1,657 per month) http://www.socialsecurity.gov/OACT/quickcalc/index.html. Of course, if you are married and your wifes social security payment is not at least half of yours, then your payment will be reduced the exact amount that brings her payment to half of yours. Example: You get $1,000, your wife gets $300. Now, your payment would drop to $800 and your wifes would be brought up to $500. But, if her payment is at least $500, then nothing changes.

Ladyliberty_max50

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Rate This | Posted 11 months ago

 

I think the payment may also be adjusted if one or both of you are a federal employee. My grandmother worked for SSA, and her larger federal pension increased her monthly cap and did not affect my grandfather's SSA payment.

Large-jay-and-silent-bob_max50

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Rate This | Posted 11 months ago